Opinions on will-related options needed

[Executor]

I think I am asking for the advice about whether what I am planning is morally right, or not, as I have no idea and have not discussed this with family.

I need to make a will, pretty sharpish. I have a small property, with mortgage, that I am overpaying greatly on to clear it before the eventful day arrives. My savings are small, just enough to cover emergency house repairs if needed and other than that I have nothing of value.

I have adult children. Some live abroad, some fairly close geographically. I have one sister, who, after years of me trying for a meaningful relationship, I very rarely see or hear from, causing me great anguish at times. I don't see my mother (don't like her, definitely have no love for her) and after that, no other family. Also, my only friend is 180 miles away and has cancer. I have no other friends and no local contacts (can go weeks without seeing or speaking to anyone).

Now to my query. My children have all had difficulties and I don't want them to have to sort all my crap out once I'm dead. The thought of them having to deal with probate, closing accounts etc brings me to tears. Would it be morally wrong to make my sister the executor for my will? She'd probably hate me for it, but I just want to protect my children when things are so shit anyway. Otherwise, do any of you know how much a simple will would cost if I named a solicitor as executor? Thank you for reading, I hope someone can give me advice.

Hi OP I'm a will writer (and worked as a high street lawyer for many years), and don't recommend that you appoint a solicitor as executor. Usually they will take a percentage of your estate which can work out to be tens of thousands of pounds, when the work involved isn't generally very complicated.

I generally advise my clients to appoint their adult children so long as they all get on reasonably well and won't squabble.

The application for probate is a matter of downloading two forms, and swearing an oath. It really isn't rocket science.

The other reason that I recommend that you appoint the children is that, as beneficiaries, they obviously have an interest in making sure that everything goes smoothly without unnecessary delays. Your sister, on the other hand, has no real incentive to be efficient.

You mention that your children have had their own difficulties and some live a long way away. If they're really struggling, they could ask a solicitor to assist if they get stuck with anything, and in particular if your estate is likely to attract inheritance tax.

Your IHT threshold (tax free allowance) will be £450,000 as at today, rising to £500k in April 2020, assuming that your estate is going to your children. If you are widowed and your husband left everything to you when he died, your tax free allowance will increase, possibly by up to another £450k depending on the value of the estate.

@mumble thank you for yiur in depth response, it is much appreciated and makes a lot of sense. Think I need to just get on with it and make the will, thank you.

You're most welcome. Let me know if you need help!

Thank you, I will.

From my own experience, executing a will whilst dealing with the emotions of being bereaved is a good thing. It gives you something tangible to do for your loved one, far better than wallowing in the depths of misery feeling totally out of control because someone else is doing the admin.

In other words don't worry about the burden on your children. Just make sure everything is clear for them - list bank accounts, who utilities are with, who holds house deeds, your online passwords, your funeral plans, life insurance etc.

OP, @MumbleChum wrote my Will. She has a Will-writing company called Marlow Wills and she phoned and emailed and then she sent a draft Will for me to approve. It was a great price and she covered every question I had.

Thanks Hollow Talk 🌸🌸

OP, I recently helped my DH and ILs with admin for FILs will. It was all pretty simple, house, minimal savings, insurance policy.

I wouldn't nominate your sister as she has no interest in sorting things out, and she could refuse to act, causing further problems. Totally agree about not appointing solicitors or bank as executors, they charge hugely.

If you want to make things easy for your DC, I'd suggest you set up a little filing system, bank account(s), insurance details, council tax details, utility details, mortgage, where the original will is held, and anything else pertinent.

Plus a note telling them to get a good number of copies of the death certificate, we needed about 8 to sort stuff out, close accounts and claim insurance.

Another vote for Mumblechum, she sorted out our wills via Skype, very professional, and very reasonable price.

Thanks RamblinRosie !

Just because you are named executor doesn't force you to be it. Could make things more stressful.

Another vote for mumblechum
She did my parents wills and my lazy father loved the fact that he didn’t have to get out of his armchair to do anything to taxing 😂.

Glad to be of service MagpieMagpie !!!