Not married - any advice on how to best look after DP and DD in my will?

[ImpatientGriselda]

All the recent swine-flu furore has reminded me that I have, irresponsibly, not made a will yet...

I am sole wage earner in family, and the flat we live in is mine. If I were to die, the equity in the flat plus my savings would be over the inheritance tax limits.

Any advice as to how I should draw up a will to best maximise DP and DD's inheritance?

See a solicitor, this is what they know how to do.

Your best bet is to go to a solicitor and have everything done properly. We were charged less than 150 pounds for two wills (one each) which I thought was very good value for two visits with lots of questions and decisions to make.

Things that you will probably have to think about -
What do you want to happen if you both die? Who would take care of your DD? Who would take care of her money until she is old enough (not necessarily the same person)? How old would your DD be when she can get her hands on the money (we picked 24)?

I'm not a lawyer, so I don't know how to minimise inheritance tax, but any good lawyer will go through that with you.

We have wills which were drawn up to minimise inheritance tax. To be honest, they are redundant now but my main motivation was to stop DH remarrying and some woman stealing all DSs money.

Essentially it ringfences an amount (usually the IT allowance) to be left to your DC but to be LENT to your DH for the remainder of his life. So they have your half of the house but DH doesn't have to sell it,

Then when he dies, they get it. The law has changed now so you don't really need this clause anymore but still handy from an evil stepmother point of view

Other than that, put some money in DC name now.

Thanks folks; MrsTittleMouse, aged 24 for inheritance sounds like a good idea, although my Dad used to say that we only come of age in our family at 28 .

Friutstick, I hadn't considered wicked stepmother scenario, and will do now....had only had visions of DP and DD losing both me and their home at same time, being cast out into the snow by unsympathetic bailiffs etc etc....