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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: jade on March 27, 2017, 11:35:46 AM

Title: cheap wills: UK
Post by: jade on March 27, 2017, 11:35:46 AM
Hi all,

Any advice on wills would be great.

We have a simple one from a supermarket, that we bought for 15. We want to change it (if we need one) because the two executors live quite a distance from us.

So the questions are:

* do we need one? We're a married couple, 41 and 46 years old. No kids, 1 cat. :)

* would it make more sense to be executors on each others wills?

* where's the best place to get a reasonably prices, good will?

Thanks in advance!
Title: Re: cheap wills: UK
Post by: dreams_and_discoveries on March 27, 2017, 01:05:04 PM
In my opinion, it depends how different your wishes are from how your assets would be divided if you die intestate.

The Govt rules can be seen here: https://www.gov.uk/inherits-someone-dies-without-will

If you are happy with that allocation of assets, I'm not sure you really need a will.
Title: Re: cheap wills: UK
Post by: jade on March 28, 2017, 08:51:19 AM
Brilliant, thank you, that link is very helpful.
Title: Re: cheap wills: UK
Post by: cerat0n1a on March 28, 2017, 09:02:43 AM
Any advice on wills would be great.


Advice?

Make sure that someone knows where the will is kept, if for example, you both were in a car crash.

Make sure that you know what accounts each other have (particularly online accounts) and that you can get access to PIN/passwords should the need arise. I know two old ladies who've had real hardship because they were locked out of joint accounts when their other halves died, even though it is not supposed to work that way. Hard to know whether through ineptitude or malice.
Title: Re: cheap wills: UK
Post by: jade on March 28, 2017, 10:35:58 AM
Good points, thank you.... We'll get onto that.