Please also talk to a financial advisor. Especially if you want to reduce your tax burden under inheritance tax. If for example you split your estate, to your wife and children and your estate is above the inheritance tax threshold, you'll be liable to pay 40% inheritance tax. Many, many solicitors either dont know or understand the IHT rules, or just dont care abd will not tell you about this. Do your research before wtiting a Will
IMPORTANT - Please get advice from a Contentious Probate solictitor in disputes about changes to Trust, Mutual or Joint Wills. History shows that widows/widowers who inherit assets from second marriages can abuse Trust Wills etc. Once a mutual will crystalises into a trust it cannot be altered in any way. Get signed copies and letters that detail intention from your parent so that your step parent cannot concoct any further wills to your disadvantage.
No I haven’t written a will. I’m 47 (was divorced) own my house, I have 2 children 20years lives away and 15 year old lives with me. My boyfriend of 3 years lives with me and pays rent. He has a son who visits us. I haven’t a will 😬😬
Once I write a will out with willaid that am thinking of using. How does it work will I need 2 people to witness my will for it to be legal. The problem is I do not have 2 friends to do this be witnesses How can I get round this ? Do I need 2 witnesses ? Any info would be appreciated Thanks lee
You usually do need two people unrelated to you to be your witnesses. There must be two people that you know who can do this? Any groups you are a part of where someone wouldn't mind? Do you have a cleaner/carer/someone who pops in from time to time? Next door neighbours? It's not like they are signing their life away, just to say they've seen your signature. How well do you know your postman/milkman...?! 😂
It would be a good idea to get your to update his will if possible, then there would be every point. It would be wise to do that as Beneficiaries also have 2 years from date of death to change the will, providing all agree. If they don't all agree, then things can get really messy and relationships strained, but if he updated it then it may mitigate that problem.
Have you made your will yet?
Brilliant, very clear and easy to follow. Thank you.
Straight to the point. Very clear. Interesting to listen to. Thank you so much.
Fantastic video Olivia. Full of useful and I'm sure to most, unknown information. I've subscribed on the strength of that!
Excellent explanation and well presented , thankyou very much
Very important information. I really like this video .you have brilliant skill
Thanks Rana! :)
5:26 Appointing an exeggutor would be pretty rad though - would certainly cheer people up!
Thank you.
Just bought a DIY in WH Smith
Well done 😀
Thank you Olivia 🙏🏽
Please also talk to a financial advisor. Especially if you want to reduce your tax burden under inheritance tax. If for example you split your estate, to your wife and children and your estate is above the inheritance tax threshold, you'll be liable to pay 40% inheritance tax. Many, many solicitors either dont know or understand the IHT rules, or just dont care abd will not tell you about this. Do your research before wtiting a Will
Hi, Great video, how about a trust ?
Nice 👌 video thank you very informative
Thanks Bob, glad you found it helpful! 😊
Very useful
Hi Olivia, could you please advise a Brit living aboard on doing a will for a property in England please.
IMPORTANT - Please get advice from a Contentious Probate solictitor in disputes about changes to Trust, Mutual or Joint Wills. History shows that widows/widowers who inherit assets from second marriages can abuse Trust Wills etc. Once a mutual will crystalises into a trust it cannot be altered in any way. Get signed copies and letters that detail intention from your parent so that your step parent cannot concoct any further wills to your disadvantage.
Thank you so much. What if you die without a will as a single parent and have young children?
No I haven’t written a will. I’m 47 (was divorced) own my house, I have 2 children 20years lives away and 15 year old lives with me. My boyfriend of 3 years lives with me and pays rent. He has a son who visits us.
I haven’t a will 😬😬
Once I write a will out with willaid that am thinking of using. How does it work will I need 2 people to witness my will for it to be legal. The problem is I do not have 2 friends to do this be witnesses How can I get round this ? Do I need 2 witnesses ?
Any info would be appreciated
Thanks lee
You usually do need two people unrelated to you to be your witnesses. There must be two people that you know who can do this? Any groups you are a part of where someone wouldn't mind? Do you have a cleaner/carer/someone who pops in from time to time? Next door neighbours? It's not like they are signing their life away, just to say they've seen your signature. How well do you know your postman/milkman...?! 😂
So how will people know that a person had a will ? After I write who do I give it to ? Or is it in government records
If you write it with a solicitor they keep a copy of it. It's best to notify your family or any beneficiaries that you have a will in place.
What happens if you are single and don't have a will but have adult children from a previous "unmarried relationship" ?
In that case your adult children will inherit everything.
Dad made a Will in 2000 and remarried in 2002 ....
My brother and I will get nothing , because his new wife gets everything , what's the point ....
It would be a good idea to get your to update his will if possible, then there would be every point. It would be wise to do that as Beneficiaries also have 2 years from date of death to change the will, providing all agree. If they don't all agree, then things can get really messy and relationships strained, but if he updated it then it may mitigate that problem.
3.20 if you have no siblings then where did nephews and nieces come from?
Your siblings could have passed away before you?
Exeggutor... use authorise!!!!
Exeggutor, lol! I, too, am a Pokemon fan! 😉😂 Executor is the right term here though - the person who carries out the wishes of the deceased.
I love the topics you cover. I just wish you wouldn't talk so fast.