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Wills
If a person wants to leave a WILL do they have to write the said WILL on a proper WILL FORM or can they just write it on normal notepaper with the Witness,s signature ,would this be legal and binding, Many thanks for an help,or advice given.
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wills can be written on plain paper. They are legal documents so long as they are dated, signed by the testator (will maker) and that signature is witnessed by two people who are not beneficiaries of that will and they sign the document at the same time as each other just after they have seen the testator sign the will, and they should also print their name and include their names and addresses and occupations.
I have typed out wills for other family members and they have been accepted by banks etc.
However I feel I must point out that a 'home-made' will must be very clear in its language. Any ambiguity could cause problems when the will comes into force.
I would suggest that if bricks and mortar are involved legal advice should be sought.
I have typed out wills for other family members and they have been accepted by banks etc.
However I feel I must point out that a 'home-made' will must be very clear in its language. Any ambiguity could cause problems when the will comes into force.
I would suggest that if bricks and mortar are involved legal advice should be sought.
As Alice rightly says a will can be written on notepaper you do not have to use a will form, the important thing is that it is properly prepared, many people produce DIY wills and many in the legal profession earn a good income sorting some of them out. If the terms may be in anyway contentious or not clear use a solicitor or other professional, but not one who insists on being an executor.
Here in the U.S. a hand written will is as valid as any attorney prepared device. Since most of our laws evolved from English Common Law, our will system is pretty standard.
One issue that has been upheld in all of the States, however... a will can not "skip" a generation to avoid paying an estate tax.. That is, a person cannot leave any part of their estate to grandchildren, only to direct descendants, without the "skip" receiver paying a fairly substantial Federal Estate ("death") tax. There, is, at present, a fairly high exemption for the death tax, but our beloved Congress is working feverously to reduce that so as to raise more money to spend.
Most estate laws vary from State to State, but there are a few Federal laws or Regulations that kick in.
By the way, to avoid objections from beneficiaries, the witnesses should (not absolutely required) have their signature attested to by a Notary Public. Here, a Notary Public simply, for a small fee, attests to the observation of the signatures being applied. It's always been found to validate the witnesses in case law suits are brought forth...
One issue that has been upheld in all of the States, however... a will can not "skip" a generation to avoid paying an estate tax.. That is, a person cannot leave any part of their estate to grandchildren, only to direct descendants, without the "skip" receiver paying a fairly substantial Federal Estate ("death") tax. There, is, at present, a fairly high exemption for the death tax, but our beloved Congress is working feverously to reduce that so as to raise more money to spend.
Most estate laws vary from State to State, but there are a few Federal laws or Regulations that kick in.
By the way, to avoid objections from beneficiaries, the witnesses should (not absolutely required) have their signature attested to by a Notary Public. Here, a Notary Public simply, for a small fee, attests to the observation of the signatures being applied. It's always been found to validate the witnesses in case law suits are brought forth...
Megarry in Miscellany at law lists an incredible number of law lords who died with invalid wills or intestate.
Clanad describes one legal system - if oyu were in Belgium you would have to leave 70% to your heirs at law
but you arent - write your own will and make sure that all the lucky winners know what the terms are and where the will is.
oh and make it simple
contesting a will is expensive - TW can confirm or not whether the costs usually come out of the estate - and if you have heirs who are likely to quarrel then a solicitor may be sensible.
lawyers rub their chubby little ink stained hands when they see a wills form, as it means so muchmoney for them to sort out a mess.
Clanad describes one legal system - if oyu were in Belgium you would have to leave 70% to your heirs at law
but you arent - write your own will and make sure that all the lucky winners know what the terms are and where the will is.
oh and make it simple
contesting a will is expensive - TW can confirm or not whether the costs usually come out of the estate - and if you have heirs who are likely to quarrel then a solicitor may be sensible.
lawyers rub their chubby little ink stained hands when they see a wills form, as it means so muchmoney for them to sort out a mess.
Good advice from Alice & Tony. Another option is to give away at least some money and property before you die. I don't know how much value you're talking about, but I think the inheritance tax threshold is still £275,000. (IHT is chargeable at 40%). If you own a house there's a chance you're already in that bracket. Inheritance tax may be charged on gifts from a few years before you die also, but the rate decreases with time elapsed. You might want to look into these things.
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