Can a will leave an estate in percentage shares?

[CanadianJohn2]

I'm considering a will, but my death is not imminent (I hope), and I don't know how much money I will have when I die. Is it possible to specify bequests by percentages? 50% to this person, 25% to that person, etc?

Yes. DH inherited a percentage of his aunt's estate.

if you are considering leaving a percentage to a charity be aware that they will then have a reason and duty to query every action by the executors but a specific lump sum is one and done and easier for executors to manage

I’ve left 10% to each of three grandchildren. The remainder divided between DS and DD.

It makes more sense to leave percentages in case there’s not enough left to fill all bequests.

Yes, absolutley. You can leave percentages (50% to x, 10% each to a b c d e) , or a specific amount and then percentages (ie 1st £50000 to x, any remainder to be divided between a b and c), or a specific item first (ie house to x, rest of estate to a b and c) and so on.

Speak to a solicitor to make sure it's al properly done, and you've thought through any consequences - ie if leaving a specific house, what will happen if you've sold it at the time of your death. For example, my FIL wanted to leave his house to my DH, and any cash divided equally between the grandchildren, until a solicitor pointed out that if he had sold the house to pay for care and hadn't changed the will, DH would inherit nothing.

assuming you're Canadian and live there I assume you also know different countruies have different laws?

German inheritance law is a nightmare............

So hopefully you have a long and healthy life ahead of you

But what will your estate be worth when you die?

If you divide it up into shares then any changes to its value won't affect the division

If however you leave fixed amounts then whoever gets the residue might stand to clean up or be left with little

% shares. If you have to spend a lot on care, sometimes fixed sums leave others with less than you intended. Charities can be aggressive in pursuing their share. I favour giving to a charity when you are alive if you really want to. If you prefer family etc to have your money, leave % to named people and substitutes if necessary.

Yes to percentages - and re charities - they can be an absolute nightmare - the larger ones the worst ime - they wanted us not to fulfil a specific wishin a will on the grounds it wasn’t binding and would cost money to see through etc etc

With the caveat that inheritance laws are different in different countries.

Yes, in England you can divide your will into %s and it is a very sensible way to do it if you are leaving the %s to family / friends. For a larger estate, as others have said, I think charities can be more complicated, but when my sibling died, having done that, the charities in question didn't know anything about it until they received a cheque and letter from us explaining what the money was.

Totally agree with all the PPs, %s are fine, and be really careful with charities as they get very aggressive.

Divided up by % is definitely the way to go as no-one could possibly know what your estate is going to be worth when the time comes.

Imagine this rather simplistic, worse case scenario......
You will £10k to a good friend "for always being there" but the remainder (expected to be around £500k) is split equally amongst 4-people.
Your health fails and you need home care before finally entering a nursing home. You are there several years and your estate dwindles until little is left and the LA step in.
When the will is finally executed your friend receives £10k but the main beneficiaries receive just a couple of £k each.
Is this what you would want?

Often charities have offered will writing for free. They know they are left something! They have legacy advisers and will chasers.

I know that part, but I still don't know how they would be in a position to be harassing the bereaved.

For example, if I write a will now through a 'will writing for free' scheme, when I die (hopefully not for another 30 years) , how would 'Cancer Research' or 'Guide Dogs for the Blind' or whoever, know that I'd died last week or last month ?