No Will So How Would Things Get Sorted?

[savagj1]

To keep things brief my husband has 3 children from his past marriage (ages 24, 17 and 15) plus we have 2 children together (ages 6 and 2).

He has recently sold his house with his ex and put the money off our mortgage leaving us with very little to pay, which is great for us.

We need to make a full detailed WILL at some point but until then where do I stand if anything was to happen to him and no WILL had been made. I'm not on our mortgage since last year due to my past credit so the house is just in his name ... does everything go straight to me as I know he wants the WILL to specify certain things which I'd make sure where carried out.

Just not sure how things would work until we put it all down legally!!

[boxtops]

If he has no will, then he will be intestate and the matter isn't nearly as clear as you'd like it to be. Don't do the Wills "at some point", do them very soon.

[ubasses]

http://www.tollers.co.uk/system/docs/178/original/Rules%20of%20Intestacy%20Flowchart.pdf

Follow the above flowchart which will show what happens whensomeone dies intestate. I would strongly advise you both to make Wills as soon as possible.

[boxtops]

That's a useful chart, ubasses.

[Peter Pedant]

We need to make a full detailed WILL at some point

yes indeed you do - like sometime tomorrow

if your husband dies intestate all manner of hangers on will emerge claiming they have a share....

[savagj1]

It asks "is your estate more than £250k" ... what does this actually include? Just the house as we don't have any banked savings but life insurance policies leaves the other with a substantial payout just under this amount and our home is around £180k!?

[ubasses]

value of house less mortgage plus sum of all life insurance policy payouts plus the value of any personal effects, ie jewellry, car cash in any bank?sabings accounts in his sole name. In fact anything he owns.

[ubasses]

that should read cash in any bank/savings accounts.

[savagj1]

Ok thanks.

It obviously needs putting in writing as the house is to be split into 2 when we both die. My half is split between our two children and the other half is between his 3 children from his first marriage plus our two (so his half is split 5 ways whereas mine is split in half). This might sound unfair to some but his other children will also benefit from their Mothers inheritance and altogether gain a larger overall percentage!

Need to sort ASAP ... any recommendations for WILL writing companies lol?

[ubasses]

You will be able to do Mirror Wills so that it will not matter which one of you dies first. But bear in mind the survivor can always alter/make a new Will at a later date. Most Banks have a Will writing service and tend to use good solicitors, just make an appointment with the financial adviser at your Bank, or get someone to recommend a good local solicitor.

[sherrardk]

I think the general premise is hugely fair, it can't be easy when step children, etc are involved. There was a series of programmes on a couple of years ago about wills and complicated family set-ups, I will see if I can find a link (the series was really interesting).

[pixie373]

That sounds completely fair. Although, if your name isn't on the mortgage even, you really want to do it asap.

[sherrardk]

The programme was called 'Can't take it with you' presented by Gerry Robinson (I only found the link because I have a bit of a 'thing' for Gerry Robinson!).

[dzug2]

You also have trusts to think about until the kids are 18

A house split like that is fine if it's to be sold and the proceeds split up but can be a nightmare if it's still needed for someone in the family to live in. Arguments about maintenance, some people wanting their share NOW

No easy answer