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If you’re child free, who are you planning to leave everything to?

154 replies

TeapotCollection · 17/02/2023 14:04

We’re early 50s and think we should write our Wills. We’ve got family but, to put it bluntly, no one who we want to have everything we’re working hard for. There probably won’t be a lot of cash because we’re going to spend it 😃 but very likely to be a property worth at least 200k (todays prices). We did think about selling our property to one those equity release companies but I was strongly advised against this on here

If we divide it between charities will the cost of processing the Will be horrendous?

Another thing is that we know certain family members will be expecting us to split everything between our nieces and nephews. Tough shit?

Going away for a couple of nights in a few hours so apologies in advance for being quiet over the weekend

OP posts:
whumpthereitis · 20/02/2023 15:45

I have no problem with larger charities, and I’m well aware they have operating costs, but I’m leaving to the small ones I’m directly involved with through volunteering.

MrsBennetsPoorNerves · 20/02/2023 17:17

PauliesWalnuts · 20/02/2023 14:59

I don’t have a problem with funding larger charities operating costs, but I do have a problem with the way they go about things in such a cut-throat manner when included in badly drafted wills. I remember one case when an older woman had been left a specific amount by her parents (the value of their house) with “the rest to go to” whatever charity it was. The Will was drafted in 1980 and the house had significantly increased in value. If I remember correctly the charity got over a million quid and the daughter was left her original amount, which, due to inflation was now only a pittance.

That sounds like the result of a poorly drafted will, rather than any wrongdoing on the part of the charity. Even if they recognised that the donor might not have intended for the split to be that uneven, they wouldn't necessarily be at liberty to just hand some of the money over as they might be legally obliged to spend the funds on their charitable purpose.

MrsBennetsPoorNerves · 20/02/2023 17:19

whumpthereitis · 20/02/2023 15:45

I have no problem with larger charities, and I’m well aware they have operating costs, but I’m leaving to the small ones I’m directly involved with through volunteering.

Totally fair enough, I would do the same. Smaller charities are more likely to feel the benefits of relatively modest legacies in any case, as they represent a more significant contribution to a smaller overall pot.

VictoriaBun · 20/02/2023 17:27

Try and spend it all and have the time of your life !
When you reach mid 60s , sell your house and move into a flat . Go on lots of holidays whilst you have your health , even if they end up as uk based coach ones.

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