Making A Will.

[ImLostAgain]

I was thinking it was about time I got around to making a will. The thought struck me that I don't know the first thing about it.
I know you can get a DIY pack but I think a solicitor would be safer.
Then a silly thought occurred. Do you have to say how much money you have or just where it is. I mean, what if you say you have a zillion £'s in a bank and then you lasted another twenty or more years. Do you have to go and change the amount every so often as it gets less and less? Or is the fact they know where it is enough?

[woofgang]

no you don’t have to say how much you have or where it is unless you want to say stuff like “all of the money I have in the bank of Mum and Dad is left to....”
Its helpful to keep an up to date record of where your asserts are and how to access them and keep it somewhere where your executor can get at it. DO NOT make the solicitor or his firm your executor. If you executor wants admin help they can choose what they need and pay for it out of the estate.

[ubasses]

I always think it is better to make your bequests in percentages than leave specific amounts. Simple if you are leaving it to a spouse, or if they predecease you, equally between your children.
However you are leaving your Estate to a mix of beneficiaries and give them each a fixed percentage it will not matter if at date of death you have a million pounds or £100.

[ImLostAgain]

Thanks for that. Seems silly but I just didn't know.

[Old_Geezer]

Making me feel guilty as I still have not done one. I thought that percentages would make more sense; perhaps with bits such as X gets first dibs at owning the 'whatever', if they want it. I really must go find a local solicitor that can do this as I've bought paperwork and software for DIY wills in the past and not bothered (or got cold feet about it).

[Bazile]

Old_Geezer

Don't forget i'm your bestist friend

[Old_Geezer]

100% of the debts are still not worth trying for ;-)

[Jennykenny]

Unless you are in a desperate hurry, hold off for a few months.
Every year there is an organised 'free' will service where a solicitor in your area will draw up your will for nothing in exchange for you donating a smallish amount to charity, from your estate, ( i.e. You don't pay now).
The charities are good solid ones but perhaps not your choice. I did it last year and the solicitor was happy to go ahead with my wish to donate by myself to a local charity, rather than those on the national list. Keep an eye open in the local papers or just ring around and ask if the solicitors in your town are involved.

[Peter Pedant]

excellent idea to write will

less good to write it yourself as you havent quite got the basic principles yet.