Is it worth writing a Will?

[Watsitallabout]

Hi all, can anyone help me with a question please - is it worth my father in law writing a Will? He doesn''t own any property, he has no investments, all he has is the money in his bank account. He has no surviving partner and just one child, so is there any point in writing up a Will? Or would his bank account money just go to my partner in the future. Are there any other benefits from having a Will when you don't own much that I am ignorant too? Many thanks in advance for any advice :)

how much does he have?

Not much I don't believe, under £50k and he is not a well man, so some of that could end up going on his care. Is there a limit of cash then where a will would be important to have?

Regardless of what he has in his account he can give away c£3000 pa
to anyone without being accused of trying to avoid care home fees etc So he can gift that amount every year.
Having a will avoids stress and hassle for the bereaved especially when they are trying to organise a funeral .
The best thing to do is for him to see a solicitor . It is confidential.
A solicitor will ensure he gets his wishes .
My best friends step-father has just died without a will and it is awful.
Relatives he has not seen for 20 years have turned up and tried to
boss everyone else around which is so upsetting
You have been warned

Thank you JustPassingTime, I think your information sounds like it is definitely worth him doing one :)

It wouldn’t be a disaster if he died intestate, because everything would go to your partner anyway, but it would make your DP’s life a bit easier when the time comes.

It’s so simple that a DIY will form would do it, but if he’s declining then he’d probably need a bit of professional help. Free will month is next month - you’re encouraged to make a donation to charity, but since it’s so simple it wouldn’t have to be too large.

My mother died recently without a will.... similar situation with no property but it's already causing a headache so I'd say it is probably worth getting one.

Regardless of what he has in his account he can give away c£3000 pa to anyone without being accused of trying to avoid care home fees etc So he can gift that amount every year.

The £3k is is nothing to do with care home fees, it's to do with inheritance tax.

Having a will means naming executors who can then deal with the estate and it does make things easier. If not you have to go to court to get letters of administration and other people might turn up to the to take over.

It is better to have one.

Yes, it's worth it. My dad died without a will and it made a sad time so much more difficult.

I had to choose if he would be buried or cremated and I didn't know what he would have wanted.

I had to deal with family members sniping about money, possessions, etc at a time when my grief was raw.

Dealing with banks, insurance companies, etc would have been a hell of a lot easier with a will.

Get him to see a solicitor and write one up.

Doesn’t he have a pension from his work ?

Not everyone writes their wishes re cremation etc into their will, it's certainly not standard. I've written it in mine just because I don't want anyone to waste money on a funeral. But it doesn't have to be followed either.

Also, not sure why banks etc would have been easier with a will, they don't see the will, they just work from the grant of probate or the administration if no will.

But everything takes longer with no will. My dad had a will and we've waited four and a half months so far for probate. That's with everything in order, no-one needs the money but it does mean bank accounts etc cannot yet be closed.

Yes he should make a simple will, plus I would also recommend checking which bank account his money is in and then check that bank's level for probate. For example, if he has £50k in a Santander account they will release it to your DP without requiring him to apply for grant of probate, but if it's in the Woolwich they will only release £10k without requiring probate.

www.co-oplegalservices.co.uk/media-centre/articles-may-aug-2018/bank-limits-for-probate/

Also, not sure why banks etc would have been easier with a will, they don't see the will, they just work from the grant of probate or the administration if no will.

If the amount in the bank account is small, some banks will release the money on sight of the will so maybe not even a need for probate (depending on amount of money in each bank account and which banks).

@user1497207191

Also, not sure why banks etc would have been easier with a will, they don't see the will, they just work from the grant of probate or the administration if no will.

If the amount in the bank account is small, some banks will release the money on sight of the will so maybe not even a need for probate (depending on amount of money in each bank account and which banks).

Yes. But that's got nothing to do with whether there is a will or not. The bank doesn't see the will, just the grant of probate.

For my mum the Coop didn't seem to care and released funds to her immediately, Nationwide want to see probate.

Coop didn't ask mum for a copy of the will, just the death certificate.

I would recommend it. If something happens to your partner, you would have no connection to F”IL” if you are unmarried.

For my mum the Coop didn't seem to care and released funds to her immediately, Nationwide want to see probate.

lloyds didn't ask to see probate
Barclays didn't ask to see probate
Halifax just transferred the money as lloyds informed them - part of the same group

BUT to protect themselves they asked if I was executor and if there isn't a will then you won't be

its so much easier with a will

@ivykaty44

For my mum the Coop didn't seem to care and released funds to her immediately, Nationwide want to see probate.

lloyds didn't ask to see probate
Barclays didn't ask to see probate
Halifax just transferred the money as lloyds informed them - part of the same group

BUT to protect themselves they asked if I was executor and if there isn't a will then you won't be

its so much easier with a will

It's most definitely easier with a will overall. But if they asked you if you were executor, did they ask for the will to confirm you were?

And without a will if you are appointed administrator you have exactly the same rights so the bank I still can't see why that makes the banks more difficult to deal with.

Most banks seems to depend on the sums involved. Nationwide appear to have a £50k cut off. But for some it is far lower.

It all takes longer with no will because the court has to appoint the administrator and that takes time.

It's most definitely easier with a will overall. But if they asked you if you were executor, did they ask for the will to confirm you were?

No I had to tick that I was telling the truth - which I was. But tbh I didn’t get the original copy of the will until I sent it if to probate ( I had 3 different copies at home) even showing a copy will isn’t much cop, how would the bank know if it was the last one?