Wills

[darreno'd']

I have one and for minimising inheritance tax liabilities, if I pop 50 % goes to my wife and 25 % each to the children. That way if for some reason karen goes soon after the children get her 50 % shared between them. This reduces their inheritance to below the tax threshold as opposed to karen getting 100 % straight away, if she goes they would be liable for inheritance tax, which would be bleedin wrong.

[pimpdriver]

Originally Posted by Audi Derek

And who will manage the trust for the kids ??





..

Probably one of our brothers or sisters.

[stuartmmcfc]

it's those sort of details that become really important.
To everyone, don't think that the wife automatically gets everything if no Will's made, and if you're not married -shes not entitled to anything
The only reason for not making a Will is if you're certain you're immortal and will never have an accident.
You can make on line wills very cheaply, but it's probably best to involve a solicitor, it makes it more watertight. £200 or £300 spent now could save your loved ones thousands when they need it most and it helps take the decisions away from them at a very bad time.
Also you need to appoint an executor, otherwise the courts will, and this will be charged to the estate.
sorry to be so gloomy but I've personally seen to many horror stories caused by a Will not being made and now my father saying he'll give it a month or so before he does (he's 74!!!) really worries me- no one wants that sort of aggro to sort out when they're mourning.

[tttoptotty]

Sad to think of a making a will to he honest. I did try and do one when I was 28 but didnt have the guts to have it done properly sound pathetic I know, but I do think we will do one just so we dont leave an aftermath for other to sort it as I dont think it's fair to put others through the grief and the stress if your not there.

[MadderThanMax]

Originally Posted by stuartmmcfc

it's those sort of details that become really important.
To everyone, don't think that the wife automatically gets everything if no Will's made, and if you're not married -shes not entitled to anything
The only reason for not making a Will is if you're certain you're immortal and will never have an accident.
You can make on line wills very cheaply, but it's probably best to involve a solicitor, it makes it more watertight. £200 or £300 spent now could save your loved ones thousands when they need it most and it helps take the decisions away from them at a very bad time.
Also you need to appoint an executor, otherwise the courts will, and this will be charged to the estate.
sorry to be so gloomy but I've personally seen to many horror stories caused by a Will not being made and now my father saying he'll give it a month or so before he does (he's 74!!!) really worries me- no one wants that sort of aggro to sort out when they're mourning.

Strange.... for a fleeting moment I thought you had become all patriotic and was talking bout "Will's" wedding..........

>
>
....until I read the thread.

I do have one comment though, even though a will is made out by a relative and an executor appointed its still a feckin' Ballache.. I'm currently going through this at the moment, as my dad died last year and appointed an executor who's a real rottweiler and a pain in the RS to boot and its caused an awful lot of ill feeling within both sides of the family. I guess what doesn't help is not getting along with my sister, but overall its not a very comfortable feeling I can tell you...

[gabriel.oconnell]

if you do not make a will it will all go to probate and the f......n goverment to the like of t...t camaron

[Phil Payne]

Originally Posted by stuartmmcfc

I've just had a long, heated, chat with my Father on the subject and I wondered if you have made a will or not, and if not, what were your reasons?

Yes.

a) Remove all doubts and stop the legal parasites running up huge bills at my heirs' expense arguing about it.

b) There are a few tricks you can use to reduce inheritance tax.