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Changing wills/executors when your DC become adults?

1 reply

CornflakeMum · 04/08/2020 12:22

Our youngest child recently turned 18. The eldest is 21.

I suddenly realised that DH's and my wills include things like guardians for the children, and also specify executors who are friends (who perhaps we're not so close to now, or whose own circumstances have changed).

Should we make our own DCs executors now (with a solicitor)? Or is that too big a responsibility at such a young age?

OP posts:
Mumblechum0 · 04/08/2020 19:01

I’m a willwriter and suggest that you appoint your children, but subject to the 17 year old having reached 21 when the second of you has died (because if they don’t receive their share of the estate until the standard age of 21, they can’t be a trustee.

Your will should then go on to say that if the younger child is under 21, then someone else should act.

Don’t appoint a solicitor as an executor, they’ll potentially charge a percentage of the estate. Appoint a friend or sibling, and if they get stuck they can always hire a solicitor on an hourly rate to help with the tax forms/estate account.

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