AIBU to not want 18 year old dd to make a will yet?

[IslaLucy]

Dd1 is 18 and in her second term at university. She received a very large amount of money for her 18th birthday (about £50,000) as savings schemes that we and her grandparents had been keeping for her since she was born matured. She is very sensible with this money - she has about half of it in an ISA and half in a regular savings account.

Over Christmas, she told us that she wanted to make a will leaving all this money to her sister, our dd2, who is 14 (and who will, of course, receive a similar amount when she turns 18). She thinks that if she was to die ‘intestate’ then the money would go to us (her parents) and it would be taxed as part of our estate when we eventually left it to her sister, but if she leaves it to her sister directly, as part of an estate worth less than £100,000, then her sister wouldn’t have to pay any inheritance tax.

I know I’m being silly and she’s being very practical, but I just hate the idea of her making a will - it seems so morbid. Does she need a will at 18? Are there any legal downsides?

Anyone with considerable assets should make a will, and anyone of any age can die. That's not morbid, it's reality. Don't let your silly hang-ups prevent your sensible daughter, who is an adult by the way, from doing the responsible thing.

FGS your daughter has far more sense than you. Thankfully.

She’s an adult. Adults need to have a will to stop a lot of hassle for those left behind should they die.

Writing a Will doesn’t create some bad vibe causing death.

The money should definitely not be available to DD2 before she’s at least 25 and if it were me, I’d prefer her not to even know about it. She already knows she has a lot coming to her at 18, I wouldn’t want to risk her thinking she doesn’t need to work hard at school and get a good job etc.

Winebottle a Will does not need to cost anything like £500, especially for an 18 YO without any complicated issues.

When circumstances change as hers have then a will or codicil to an existing will is in order regardless of age or whether or not it feels morbid.

She is right, and as for morbid, who knows what is round the next corner?

The downside is that it costs money to make a Will. The upside is that the money will definitely go to her sister. With regard to inheritance tax, it wouldn't be taxed if passed on straight to her sister but maybe she doesn't trust you to do that and understandably doesn't want to say so (sorry!)

Ds 18 has a will.
Very sensible.

Dungeondragon15
The downside is that it costs money to make a Will.

It doesn't have to cost a penny. You can write it yourself on loo paper so long as it's witnessed and dated.

It doesn't have to cost a penny. You can write it yourself on loo paper so long as it's witnessed and dated.

That is risky though as easy to get the wording wrong with unintended consequences.

Um, yep, loo paper wills generally not a great idea. Wills do need to be correctly worded, and a will writer or other qualified lawyer will also get the client to think of several “What If”s.

Fee for a single, very simple will should only be around the £150 mark.

Planning her own funeral would be morbid. Making a will is sensible. Congratulations, many people would love to have a teenaged like yours.

Making plans for what will happen after she dies would worry me a little bit - is there any chance she’s been feeling depressed? Most likely everything is fine, but just keep an eye on her.

I can see why you might think that, but I honestly think it’s just her personality.

She was always the child who wanted to do her homework the moment she got through the door, before she did anything else.

Everything she ever does is meticulously planned, with all eventualities carefully researched and considered.

I don’t think it’s out of character for her.

Making a will doesn't make her any more or less likely to die than if there is no will. It's just a sensible legal bit of paper to have when you have assets of a reasonable value. Most 18 year olds don't have a will because they haven't accumulated any money or assets yet.
Her plans seem very sensible. You should be proud of her and help her to arrange what she needs to.

Very sensible, but maybe best to leave it in trust to DD2.

She’s completely sensible in my opinion.

There are people in my family who are retired former professionals aged 60+ who own properties etc, but who still do not have wills. Why? Well because they can’t stand to think or talk about ‘morbid matters,’ as they call them. I think it’s very selfish, as those who are left behind will be left picking up the pieces, and at a highly emotional time.

I think everyone should have to write one as soon as they turn 18.

A trust could be quite expensive to set up. A basic will is good planning and low cost. Adding in a trust could be a lot more expensive and actually in reality the chances of her dying and leaving her assets to her sister before she turns 18 are very very low. ( as you would hope!)

A will is definitely a good idea but I think at least 50% of the 50k might go towards her tuition fees. So it might be a good idea for her to also research graduation opportunities etc as the degree needs to be in something that she not only finds interesting, but also something that will be useful for her in the future.

"My daughter is sensible and mature, AIBU ?"