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Original poster

Do I need to make “will”

29 replies

june0707 · 15/01/2023 00:18

Hi,

I have about 200k in my bank accounts. I have 3 children and married. May I learn if do I need to make “will”? If I dont make a “will”, what happens? If I die my husband or my children can use that money or not?

Many thanks

OP posts:
LulooLemon · 15/01/2023 00:24

Make a will.

It doesn't cost a lot and it will save everyone a lot of hassle when you pass away - which I hope is not soon!

Original poster
june0707 · 15/01/2023 00:26

@LulooLemon thank you:)

OP posts:
Original poster
june0707 · 15/01/2023 00:27

Do you think I should put my husbands name as well or just my childrens..

OP posts:
Mossstitch · 15/01/2023 00:58

If your married and die before him it automatically goes to your husband as next of kin. When I separated I went immediately to make a will leaving it to my three children as I obviously didn't want my husband having it.

TwigTheWonderKid · 15/01/2023 01:00

A solicitor will draw up your will and advise you. As well as the money in your bank do you also own a house with your husband? And does he have a will? Have you appointed guardians in the event that you and your husband both die?

LadyGAgain · 15/01/2023 01:20

Make a will!! Look after your children if your husband can survive without your savings E.g. do you have life insurance? Also, perhaps leave each child something (doesn't have to be huge) which won't happen without a will.
Also, god forbid, if you and your DH did together, what happens to your children? Who has them? Don't assume this would be easy. It won't with at least two grieving families.
I just don't understand why people don't talk about death and these things. It's has to be talked about and to ensure that what YOU want, happens.

LadyGAgain · 15/01/2023 01:20

Died together (sorry bad text)

Geppili · 15/01/2023 01:36

Definitely have a Will made. Tomorrow.

PartySock · 15/01/2023 02:06

If you don't have a will, then you die intestate. Where it all goes depends where you live (Scotland has different rules than England, for instance).
Anyway, make a will.

Original poster
june0707 · 15/01/2023 06:20

Thank you for your advises. We are married but in different county, not in EU. Do they still count as a married partner? My husband also has savings in his account and he didn’t make a will as well. In our country we dont need to if you are married and have children money automatically transfers to the children or wife/husband if any partners dies.

OP posts:
countrygirl99 · 15/01/2023 06:36

It entirely depends on what the law is where you live and as you haven't told us no one on here cam advise you.

Original poster
june0707 · 15/01/2023 06:38

Hi, we currently live in UK

OP posts:
Original poster
june0707 · 15/01/2023 06:40

I also dont know who to choose guardian as we dont have close family in UK - just friends but we moved here recently so I dont know if I should trust them %100. Can we choose guardian from other country (abroad)? And can she/he be able to control all money?

OP posts:
ivykaty44 · 15/01/2023 06:42

Dying interstate

the cost of a will is about a quarter of the cost of getting probate done interstate

probate can be done, but far far simpler to do DIY with a will to hand instead of having to pay a solicitor

MintJulia · 15/01/2023 06:45

You need to talk to a solicitor who will take you through who inherits your money & possessions, who you choose as guardians for your children, if you leave money to your children who will look after it until they are adult, and at what age they inherit.

You also need to tell him where you intend to live, eg in the UK or here until retirement then your home country etc.

He will advise you. But yes, definitely make a will.

You could ask about a lasting power of attorney as well.

HolyZarquonsSingingSeals · 15/01/2023 07:05

It is definitely a good idea to make a will, but you need to talk to a professional about the details. Strangers on the internet will not know enough about your unique circumstances to be able to advise you properly.

Piester · 15/01/2023 09:11

Thanks for this useful thread. We are in a similar position with savings, properties and life insurance but have yet to make a will. We are both in our late forties. We've been talking about it for years but never done anything about it. Funny thing is my wife works as a Solicitor as well but not in this area.

TeenDivided · 15/01/2023 09:15

Not a lawyer.
The law in Scotland is different from the law in England.
Plus not all the money goes to the spouse after a certain amount in at least one of those places.
You also need to consider guardianship of children if still minors, and who will administer estate if you and spouse die together.
Make a will.
'Mirror wills' for spouses made together are normally cheaper than 2 independent ones.

SnowAndIceLobelia · 15/01/2023 09:15

Everyone needs a will. Everyone.

And they do not have to be expensive. I am a solicitor (regional UK) and although I am not in the probate department I can tell you that my firm charges charge £200 plus VAT for a will. It is very very little in cost and saves so much hassle.

Hoppinggreen · 15/01/2023 09:16

june0707 · 15/01/2023 06:38

Hi, we currently live in UK

Are you legally married and will your marriage be recognised in UK law?
That will make a difference

purpledalmation · 15/01/2023 09:58

Make mirror wills with your husband. Much simpler.

LadyGAgain · 15/01/2023 11:15

Piester · 15/01/2023 09:11

Thanks for this useful thread. We are in a similar position with savings, properties and life insurance but have yet to make a will. We are both in our late forties. We've been talking about it for years but never done anything about it. Funny thing is my wife works as a Solicitor as well but not in this area.

It's really irresponsible to not have a will. And even more so if you have children. Please prioritise. It's not expensive but it's essential.

DillDanding · 15/01/2023 11:19

We have mirror wills. Only cost about £250 iirc

GnomeDePlume · 21/01/2023 00:24

A thing to keep in mind is that wills dont have a shelf life. The will stands until it is superseded by another will. We first made our wills when DCs were young. The terms of our wills reflected how young DCs were.

We recently remade our wills. The provisions in our original wills were out of date now DCs are adults.

BashirWithTheGoodBeard · 21/01/2023 09:15

june0707 · 15/01/2023 06:40

I also dont know who to choose guardian as we dont have close family in UK - just friends but we moved here recently so I dont know if I should trust them %100. Can we choose guardian from other country (abroad)? And can she/he be able to control all money?

Go to a solicitor specialising in wills and pay them a couple of hundred quid to answer these questions and draw you up a will. These issues are cheap to deal with and sufficiently important that you need more detailed and specialist advice than you'd get on here.

Wills really are one thing where professional advice is a no brainer.