Do we need a will? Is it worth getting professional help for it?

[fanjobiscuits]

I want to draw up a will and for my OH to as well but are a pretty straightforward case: married, one child (may be another at some point). Would want to leave most things to each other or our 1 year old.

OH doesn't think we need wills as things would automatically pass to each other/our child anyway.
I still think it's worth doing our wills and probably getting a professional to help draw it up, but OH is not convinced.

Any reason we should do a will? Any reason why a professional would be better than doing it ourselves?

I have a will, less for those things that you mention and more to cover worst case scenario type stuff. If I was to die, dp would get custody of children and would acquire everything. But what if both me and dp were killed? We set up wills to dictate what would happen in those circumstances. Who would get custody, what provisions were in place for currently 1 dd, but potentially more.

The reason for getting professional help is to avoid problems in the future. If you do it yourself, you may make mistakes that lead to the will not being valid, being challenged or not really doing what you intended.

Any of those problems would mean extra difficulties for you, dp or even for your children at what is by definition a difficult time. Bereavement is never easy. Why potentially make it more difficult for your family?

MNet has its very own in-house willwriter called mumbelchum1. Search for the ( very erudite) threads she has written on this very subject.

Scarlet is right though. What happens if you both die together ( classic RTA scenario) ? Who would act as trustee for your joint estates
and look after the funds for your children ?

And depending on the value of your estate it does not automatically all pass to the surviving spouse. Only the first £250k goes to the surviving spouse, so if you own a house in London you could easily be over that threshold already. Do you really want to have to sue your own children for a share of your deceased's husband's estate in that scenario because without a will that would happen. I am a probate lawyer and that is all too common in my world, sadly.

Writing a will yourself is a minefield. Would you draft your own mortgage deed or employment contract ? I can tell you for a fact that law firms make more money from estates where there is either an intestacy or a homemade will than with a professionally written will because there is so much more work involved. The last time I saw a homemade will we had to go to a barrister to get an opinion on interpretation because it was just so unclear. £3k fee just for that compared to £200 for a couple of properly written wills.

Thanks for the mention poshfrock

OP, just to repeat what others have said, and as I point out in the advert on Classifieds, the survivor of you does not automatically inherit all of the spouse's estate. For people who are unmarried, they don't automatically inherit anything (except for property held as joint tenants, not tenants in common).

Apart from that, it's important to think about what would happen to any minor children in the unlikely event that you both died, and to appoint executors and trustees to look after the financial aspect.

yes, you need wills, and more urgently you need a nominated guardian for your child. Hopefully you won't both die until he/she is much older but it can and does happen.

and especially if you aren't married, as pointed out, there is no automatic anything.

Yes you do. We did our first will when we were in a similar situation as you. The solicitor made us think of think of things we wouldn't have otherwise. Will cost about £100 six years ago and similar to amend it when dd was born nearly 3 years ago.

Yes, mumblechum did ours, it gave us the confidence that the will was rock solid and she asked quite a few questions that hadn't occurred to us. Really worthwhile IMO!

Thank you Bearsinmotion, glad you were happy.

I had my first aged 18. Get one done.