Making a new Will - thinking through options available.

[Ethel Street]

First question is, are you thinking of making only minor changes to the Will - which you can do by adding a Codicil - or something more substantial which will need a completely new Will? As you refer to "rethinking our properties' I'm guessing a new Will is needed.

 

A solicitor is likely to cost more than DIY Wills when you make the Will. Only you know whether the cost would be significant sum to you or something worth paying to get good professional advice. But if the Will is not properly drafted or the tax implications (for example) haven't been understood that could cost a lot to sort out after you have gone. And if a solicitor does get it wrong you can sue them for negligence. If you go DIY there's no-one to sue. It also depends how complex you are going to make your affairs when you 'rethink our properties'. If it involves creating a Trust don't even think about doing it without a solicitor.

 

Personally I have used a solicitor every time I have written or changed my Will, but that's just my preference. Many people write simple Wills using templates from Age UK etc with no problems if their financial affairs are straightforward.

 

I've seen the ads by charities for Will writing but have no personal experience. I'm sure what they hope is that you will be so grateful for their free service that you bequeath something to them in your Will.

 

I've been Executor 4 times and it isn't difficult unless you have complex finances such as  a Trust.. I have no professional background and no training in being an Executor, just researched it online. There's plenty of professionally written advice available - I bought one of those  'Executor packs' written by a solicitor which had specimens of the forms, step by step instructions etc. Your son is in his 30s/40s  and you say he is capable so it sounds like he could be your Executor. But what I think is irrelevant - do you have confidence he could do it?

 

As Executor your son can always see a solicitor for advice at any time. That could be for limited advice on a specific issue only - eg a beneficiary who can't be found - or  he could instruct a solicitor to do the whole thing for him. That's using the solicitor to act for the Executor, which is different to what you have now, which is the solicitor being the Executor. Solicitor's costs would come out of your Estate. BTW Executors generally cannot be paid to be the Executor (expenses reimbursement only) but a firm of solicitors is the exception. They can be (and always are) paid for being the Executor.

 

If you are self isolating because of corona virus you could still get the process of drafting a new Will started with the solicitor by email. 

 

 

Edited March 14, 2020 by Ethel Street

[Ethel Street]

41 minutes ago, Primrose13 said:

BUT - seriously though I saw it happen with an Uncle years ago - terrible for his adult children and they lost the belongings that belong to their mother who was killed in a RTA.   So..... how would you write something like that in a Will e.g. if my other half remarries or takes a partner they will not inherit MY share or personal effects?

 

3. So if I write down our wishes as to how our 'estate' should be divided (son will have land) and contents shared out - if we both die - is this something that could be attached to the Will?   

 

Note: I thought we could say between them they decided what happens to our house i.e. sell or live in it.  The value of the land (without Planning Permission)  The value of our house then is compared to the value of the land.  The house will be more and the difference divided.  Is that too simple????

 

I can't tell you the answer to that but they are excellent examples of why you need a solicitor to draft your Will!

 

"Mirror Wills"  or "Mirror Image Wills" are as you say, your and your husband's Will are more or less identical. Typically that whichever of you dies first leaves everything to the other. You save money doing 'mirror image' Wills, effectively a 'two for one' price from solicitors.  But doing them mirror image just to save money is missing the point - it has to be what you both want to happen after you die.

 

https://www.thegazette.co.uk/all-notices/content/101046

 

https://www.birdandco.co.uk/site/blog/bird-blog/what-are-mirror-wills-and-are-they-a-good-idea

Edited March 15, 2020 by Ethel Street

[Ethel Street]

10 hours ago, hello12345 said:

 

I found out, I think its law they pass on all the wills to another solicitor. There's a online site that tells you where they have been passed onto if you type in the original solicitor business name and address

 

 

Is this the site you are thinking of, the National Will Register?  https://www.nationalwillregister.co.uk   Although I don't think the OP in this thread has a 'missing Will' problem. She knows where the Will is but wants to change it.