Making a will

[DistingusedSocialCommentator]

Have you used a solicitor or online free wills?
We used an online, free wills outfit - but thinking of updating it.

What is the point of using a solictor other than ensuring its watertight?

Ours is straightforward, ie 30% of the estate to one of our children. The other two get nothing and we will write this in the Will to ensure clarity

Our 6 GC, all three siblings have 2 children each and all sub 10 yrs of age will have an equal split of the remaining estate. We have cash and 3 properties all paid for.

IMO it is a simple and straightforward Will.

We are worried if we are lucky enough to leave most of the estate behind, the GC will be able to access their share at 18 and in our judgment there is always a big risk they could be easily led by a GF/BG/OH or a small chance just blowing it away.

All help is greatly appreciated.

Btw - the Will must be easy to revise as we may do that. Please, I do not want anything re how we are splitting etc but advice/help on as above and the bit about access at 18.

Thanks - posted in AIBU for traffic.

In your case I’d use a solicitor. They’ll be able to make sure that the decision to disinherit two children is legally watertight and also be able to discuss options for trusts which prevent your grandchildren accessing the money until 21/25/30 or whereby the trustees can allow them to access it earlier in particular circumstances.

For goodness sake, we do have a Legal Matters forum on Mumsnet. Plenty of ‘traffic’ there too @DistingusedSocialCommentator

And you could have even looked up previous threads, seeing as this topic comes up like once every 10 days..

https://www.mumsnet.com/talk/legal_matters/4282871-making-a-will

https://www.mumsnet.com/talk/_chat/4628435-does-anyone-know-anything-about-wills

YABU.

For anything other than a straightforward will, I would take the financial hit and use a solicitor. Every time.

I don't think yours is straightforward actually.

It is sensible to revisit your wills every so often, e.g. when minors reach 18.

The grandchildren's money can be held on trust for as long as you like (we've done them up to age 30. 25 is quite common) but you'd need to consider who the trustees would be etc.

A solicitor can advise you on all this and how to deal with cutting people out.

I suggest you post on legal. Advice on AIBU is likely to be terrible.

We used a will.writer who was legally qualified to do wills and powers of attorney. She was cheaper than a solicitor but knew her stuff. We didn't have complicated wills but did want life interest trusts so not completely straight forward.

She came to our house and cost us 110 per will and 120 per POA (and then there's the POA fees).

Looking at them after the fact, we could have done our own POAs, but I wouldn't have be confident with the wills.

I wouldn't call that straight forward. Straight forward would be mirror wills (husband and wife) with estate split equally between offspring on 2nd death.

I would use a solicitor in your situation as they would also be able to advise on trusts if DGC are under 18/21 (or whatever age you want them to have they money) if you die before they've reached that age.

When we re did our wills, the solicitor gave advice re our Inheritance tax position and also how to ensure our DS definitely inherited something even if on 1st death the surviving partner remarried/changed their will.

I don't call that straight forward either.

I would 100% use a solicitor.

But I agree AIBU is not the best place to ask for legal advice.

if your estate is large enough to include cash and three properties, then why on earth would you not spend a couple of hundred pounds on a solicitor to draw up your wills? Of all the things that you might choose to scrimp on, sorting out your estate is not one I would choose.

Disinheriting is not a straight forward will and you need a decent will writer or solicitor to advise you.

I'm booked in with Soteria Planning tomorrow (uses before) and they are excellent and not overly expensive.

I used a solicitor. Glad to read you are making one. I think you should as it will make it less likely that those receiving nothing in your will (your reasons, none of our business at all) challenge it.

Perhaps read a few threads like this about what can happen after one of you dies, if you don't plan carefully when writing yours wills.

Hi
Thank you. I have to disagree that "trusts" work like you posted. Is there a link to a credible source for that, please?

The reason I am doubting you, my OH spend days reading about this stuff on legal websites etc - when i say "days" on and off and I've found the same answers that is 18 at which the benefactor of any Will can access, demand access to their money unless there were serious or legal concerns

I work in wills (for a solicitor).

Your will is not straightforward. Disinheriting children is not straightforward and open to all sorts of future issues. You need proper advice.

Look for the firms currently offering free wills under the Cancer Research scheme.

I’ve read that if you’re omitting relatives who will probably think themselves entitled to inherit, you need to give your reasons for doing so in the will. This will apparently make it considerably harder for them to challenge it.

Browsing the net is not the equivalent of studying law for many years and passing professional exams. If you go to a qualified solicitor you will have some protection if they give you rubbish advice. In your circumstances I really think that's essential. I am not a lawyer but I would be amazed if you are right that it's impossible to prevent your grandchildren from getting their inheritance at 18. It's been standard for hundreds of years to set a much higher age to ensure they're a bit more sensible when they get it. The trustees can be given the power to pay out for things like education at an earlier age, if you think that's appropriate.

Thanks, we touched on that and the two children are happy as its our money but a bit worried like us about children able to access the assets at 18. However, we will now write in the Wills that the 2 children were aware and happy with this and possibly get them to add stements or countersign

However, as quite a few here have mentioned "trusts" - we will further investigate.

We like to save money and have successfully gifted a property to one of our children - we did all of the paperwork for the leasehold apartment which was made easier as no loan on it and used a justice of the peace to witness our signatures. we saved about 1200 pounds. We did the tax returns ourselves as well for that so know a little about stuff like this

I will asl MNHQ to move this thread to the "legals" forums which I was not aware of.

Cheers - but the trusts as a few said - we will start looking into that and age kids can access

Disinheritance is a very common reason for people to contest a Will (using actual solicitors). Do not leave protecting your wishes to a WHSmith one size fits all £5.99 jobby.

@Gasp0deTheW0nderD0g

"I am not a lawyer but I would be amazed if you are right that it's impossible to prevent your grandchildren from getting their inheritance at 18."

You are quite right. It all depends on how the will is written.

For example, if the will says something like "I give to my granddaughter, A, the sum of £10,000 subject to her attaining the age of 25" then the gift only vests in her when she gets to 25.

If she dies before that age then the gift "fails" and goes back into the grandparent's estate and is distributed however the will is written.

There are different types of trust that allow for this to happen, however there can be capital gains tax (CGT) etc considerations.

So, if the gift is large enough that you might have concerns about CGT or if there is a large income attached with the gift (perhaps rental income or dividends from shares) then you really do need specific professional advice.

That isn’t a straightforward situation. In your case I would use a solicitor. They are not just there to draft the will but ensure your wishes are correctly represented on paper and offer advice.

Thank you, noted all comments
We will use a solicitor but need to decide on amounts/percentages.

I've been look at the agre restric wills ie GC to benefit from the age of ??
Looks like you guys were right. I found this, link below

NB MNHQ if link is not allowed, please remove

https://www.baker-law.co.uk/site/blog/baker-law-legal-blog/leaving-money-in-your-will-to-your-children-and-grandchildren#:~:text=Money%20gifted%20at%20a%20specified%20age%3A&text=You%20can%20choose%20the%20age,they%20reach%20the%20specified%20age.

Thanks all

Update

Reading about Trusts - read the link below and the bit about having access to money at 18 ^if they are competent to do so." Therefore, most 18 year olds will be considered competent.

There which trust applies if you dont want GC to access all/some assests at 18?

Who can become a trustee and what are the costs in setting up a Trust.
What happen is that Trustee passes away befor GC reaches age specified by us

I'm away re IHT

I know all solicotors are not experts in Wills - with a Will like ours and we will have written conform from 2 of our childern they will be written out of Will - so its ot compex - approx what price range are we looking at for some advice, setting up a trust. If we were to change the aounts, how easy is it to revise a Trust in the Will, cost wise etc

What is the point of using a solictor other than ensuring its watertight?

Well, being watertight is kind of a nice to have. In a Will.

And your will is absolute not simple or straightforward.

If you actually care about your family use a proper solicitor.

OP: Marlow Wills, much recommended by MNers and very good value, charge £150 to set up a trust.

It isnt straightforward

Do the children being cut from the will know?
Will you be expecting the 2 disinherited to hold an LPA, be executors, arrange your care or will that be solely the child who is inheriting?

Think very carefully about how alone you want to be in your old age.