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Wills
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My wife and I really must make will, it should be quite straight forward. Do we have to go to a solicitor?
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No, there are "Will Templates" you can buy (WHSmith used to do one) for really simple stuff, just remember that you need to have your signatures witnessed by A. N. Others and that those witnesses (or their spouses) cannot benefit from your estate. For your executor (better to have 2, in case one dies before you), you don't have to use a solicitor or bank manager etc, and it's wise to ask whoever you choose beforehand. I chose my partner as one executor and my best friend's daughter for the other (cos she's 30 years younger than me, so should still be around when I get going).
If there are kids involved, I'd definitely recommend seeing a law wo/man. Mine charged me �50 (South Wales) for a straightforward one which might seem a lot but it was cheap peace of mind, knowing it was done properly.
If you're wanting to leave any of your estate to a charity, it's worth contacting that charity or looking at their website cos they often give help and advice on drafting wills.
(Posted in 2 parts):
Although I'm not legally qualified, I used to be MD of a company which specialised in writing wills so you might expect me to say that you don't need a solicitor. I'm not going to do this, however, because there are so many pitfalls.
Neither am I going to suggest making an immediate appointment with a solicitor. My first will (long before I was ever involved in the business myself) was drafted by a solicitor. It was only when I got involved in the job that I realised there were loads of questions which he should have asked me but never did.
Although I'm not legally qualified, I used to be MD of a company which specialised in writing wills so you might expect me to say that you don't need a solicitor. I'm not going to do this, however, because there are so many pitfalls.
Neither am I going to suggest making an immediate appointment with a solicitor. My first will (long before I was ever involved in the business myself) was drafted by a solicitor. It was only when I got involved in the job that I realised there were loads of questions which he should have asked me but never did.
(2nd Part):
Let me give you a simple example of where problems can arise: Fred and Mary are married. They've got two children, John and Janet. Fred and Mary write very simple wills which state that, when one of them dies, their estate is left to their spouse. When the second person dies, John and Janet get half each. It couldn't be simpler could it?
So Fred dies and everything goes to Mary. Then Mary dies in the same car crash as John. Now there's a problem. Obviously Janet gets her half of the estate but what happens to John's half? Should it go to Janet or to John's estranged wife, Melissa? But Melissa and John had 3 children. Perhaps John's share should be distributed between them? If Fred and Mary had taken greater care over the drafting of their wills there would be no dispute but now things could drag on for years with increasing animosity developing amongst all the parties involved.
So what do I suggest. First, go to the local library and get a book about writing your own will. Study it carefully and then draft your will. At this stage, and only at this stage, make an appointment with a solicitor and get him to re-work your first draft. Then check what he's written several times. Try to think of every way in which your wishes could be open to misinterpretation. Only when you're finally satisfied should you sign your will in the presence of two witnesses who are not beneficiaries.
There's just one more thing left to do: Make sure that your executors and benificiaries are aware that you've written your will and they know where to find it. (Every year, it's probable that the provisions of many thousands of wills are never carried out either because the wills couldn't be found or, more likely, because nobody ever knew they existed).
Chris
Let me give you a simple example of where problems can arise: Fred and Mary are married. They've got two children, John and Janet. Fred and Mary write very simple wills which state that, when one of them dies, their estate is left to their spouse. When the second person dies, John and Janet get half each. It couldn't be simpler could it?
So Fred dies and everything goes to Mary. Then Mary dies in the same car crash as John. Now there's a problem. Obviously Janet gets her half of the estate but what happens to John's half? Should it go to Janet or to John's estranged wife, Melissa? But Melissa and John had 3 children. Perhaps John's share should be distributed between them? If Fred and Mary had taken greater care over the drafting of their wills there would be no dispute but now things could drag on for years with increasing animosity developing amongst all the parties involved.
So what do I suggest. First, go to the local library and get a book about writing your own will. Study it carefully and then draft your will. At this stage, and only at this stage, make an appointment with a solicitor and get him to re-work your first draft. Then check what he's written several times. Try to think of every way in which your wishes could be open to misinterpretation. Only when you're finally satisfied should you sign your will in the presence of two witnesses who are not beneficiaries.
There's just one more thing left to do: Make sure that your executors and benificiaries are aware that you've written your will and they know where to find it. (Every year, it's probable that the provisions of many thousands of wills are never carried out either because the wills couldn't be found or, more likely, because nobody ever knew they existed).
Chris
Which? publications do a simple little book that explains how to write your own will. Its worth a tenner to work out if you can do it yourself. If your affairs are simple, then in most cases you can do it yourself.
The book covers a number of more straightforward situations and has example wordings of wills, including the scenario covered by the above contributor, the simple answer to which is to write along the lines 'if my wife succeeds me for more than 30 days'.
This isn't rocket science, in simple cases its easy money for solicitors.
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