Making a will and shared ownership housing.

[Coldhands]

My DH and I are going to make a will soon as we want our wishes regarding who our DS goes to made clear to the families.

First of all, does anyone know how much it costs?

Also we each have life insurance and my DHs work will pay out double his wages so there will be plenty of money left to our DS and to pay off the mortgage but we only have a shared ownership house so we only own 30%. Does anyone know if we are able to leave this share to our DS and his guardian live here until he or DS (when hes older) wants to sell it? I'm not sure at all and I know I'm gonna have to speak to the housing association but just wondered if anyone here had any ideas.

And how many people have people named in their wills as to who gets their DCs? We really only have 1 person, and that is once he finishes university. I am hoping that my nan and step grandad will agree on a temporary basis (if the worst happened within the next couple of years), but there isn't anyone else that we really want to ask to have our DS.

Anyone???

If you have used a solicitor in the past sometimes they will draw up a will free on the basis they are likely to pick up a fee when you die. Otherwise there isn't usually a lot of work required so it doesn't cost that much.

You need to check the terms of the shared ownership agreement to determine what happens should you both die. One possibility might be to take out term insurance (or check pension benefits) to pay for the rest of the property, then the entire property can be left in trust until your son reaches 18.

It's possible to name as many or as few people as you wish.