Making a Will

[legoman]

I'm after some advice from the good folks of this forum. Many years ago, I took up an offer from my employer to have my, and my wife's Wills drawn up. There was no fee to draw up the Wills, but the Will drafters (a bona fide company) were to be named as executors and could derive a fee payable from our estates, upon exercising their execution.
Our circumstances haven't changed since that time in the sense that we have had no more kids or grandchildren since then.
However, we anticipate the grandchildren situation changing over the next couple of years and I think now is a good time to review the Wills and get new ones drawn up.
I know we are perfectly entitled to have new Wills done and I know that we would need to destroy the old Wills. My queries are as follows and here's where you can help:

1. Do I need to tell the old company (as named Executors) that I have drawn up new Wills and so they are no longer Executors. Is there a consequence here?

2. I assume that I can just pay a fee to have Wills drawn up legally correctly and I can name my own Executors (i.e. my 3 kids)
Do I have this right?

 

[Cooperman]

You can revoke a will but you need to ensure that ALL copies are destroyed.

I would get legal advice re notifying the old company, from the company drawing up the new will.

 

[Smurph]

Not sure if this helps for when it comes to writing the new ones. Some charities will write your will for free based on you leaving a small donation when the time comes.

 

[Robbie]

Just updated mine with a local Swansea firm , had a free will writing service years ago through a works scheme .

Was shocked at how much updating was needed to make it legally binding .
Thought it might gave been a simple case of a Will reading after I had popped off .

The main change was to appoint a Power of Attorney to oversee Health and Wealth issues also a second in Command , so to speak . Close to £1 k to then register the deeds via Government .

As said earlier , it can be a minefield but I used a local company , tthe matter is still ongoing due to a snag elsewhere in the chain , but glad I got professional advice .

 

[J_B]

I did power of attorney for both us for wealth and health myself. It's a bit of a slog going through it all and of the four documents, three were initially rejected. All three needed very simple ammendments and I saved a lot of money by doing it myself.
Re the OP. I would have thought that you legally have to inform the executors of your will if you are going to change your will and drop them as executors.

 

[legoman]

I did power of attorney for both us for wealth and health myself. It's a bit of a slog going through it all and of the four documents, three were initially rejected. All three needed very simple ammendments and I saved a lot of money by doing it myself.
Re the OP. I would have thought that you legally have to inform the executors of your will if you are going to change your will and drop them as executors.

Yes that's the part I'm not sure about. I thought I'd read somewhere that if you wrote a new Will, because it is more recently dated it legally supercedes the old one

 

[Robbie]

Just to be on the safe side my original will which was still valid was recovered from my previous solicitors and now is in the hands of my new firm . They done all the chasing up to get the originals .

 

[3swan]

As a failsafe

Making a new will​

For major changes you should make a new will.

Your new will should explain that it revokes (officially cancels) all previous wills and codicils. You should destroy your old will by burning it or tearing it up.

Making a will

How to make a will: making sure it's valid, using a solicitor and changing it when your circumstances change

www.gov.uk

Also for info

The lasting power of attorney (LPA) ends when the donor dies. You must report the death of a donor to the Office of the Public Guardian (OPG).

Lasting power of attorney: acting as an attorney

Acting as an attorney - duties, including registering a lasting power, starting to act, gifting, handling disputes and replacement attorney responsibilities.

www.gov.uk

 

[MajorR]

I know there are plenty of ways to get a will done, but my advice would be to get it done through a solicitor as they have the expertise to ensure it’s done properly. A lot of will writers don’t have legal training and when mistakes occur they can cause have havoc.

In terms of the Power of Attorney, that’s something you can sort out yourself. I had quotes to do POA for my mother and father which ranged between £1200 and £1500, I did it all and all it cost was the nominal fee per application.

 

[3swan]

I know there are plenty of ways to get a will done, but my advice would be to get it done through a solicitor as they have the expertise to ensure it’s done properly. A lot of will writers don’t have legal training and when mistakes occur they can cause have havoc.

In terms of the Power of Attorney, that’s something you can sort out yourself. I had quotes to do POA for my mother and father which ranged between £1200 and £1500, I did it all and all it cost was the nominal fee per application.

Yes I did my POA on line, no problems just read it carefully.

One care point always give full names, middle names if there are any.

 

[legoman]

Thanks for all the input, much appreciated. I've done PoAs in the past, so I'm comfortable with that aspect

 

[jack_lord]

My mother's cousin went behind our family's backs to get another cousin to change his will so his son would inherit everything. The sneaky tosser waited for my mum to die before he went ahead with his cunning plan as he knew no one would consider that would happen. It is important to keep on top of these things for sure. As the old saying goes "where there is a will, there is a relative".

 

[monmouth]

Having no kids my wife and I have reciprocal simple wills leaving everything to each other. If we both cop it together I couldn’t give a toss what happens. Let the f*****s fight. My legacy.

My big worry is not having spent every penny. I’m on track.

 

[Niigata Jack]

I'm after some advice from the good folks of this forum. Many years ago, I took up an offer from my employer to have my, and my wife's Wills drawn up. There was no fee to draw up the Wills, but the Will drafters (a bona fide company) were to be named as executors and could derive a fee payable from our estates, upon exercising their execution.
Our circumstances haven't changed since that time in the sense that we have had no more kids or grandchildren since then.
However, we anticipate the grandchildren situation changing over the next couple of years and I think now is a good time to review the Wills and get new ones drawn up.
I know we are perfectly entitled to have new Wills done and I know that we would need to destroy the old Wills. My queries are as follows and here's where you can help:

1. Do I need to tell the old company (as named Executors) that I have drawn up new Wills and so they are no longer Executors. Is there a consequence here?

2. I assume that I can just pay a fee to have Wills drawn up legally correctly and I can name my own Executors (i.e. my 3 kids)
Do I have this right?

Was that wise letting the company be the Executors?

 

[jack_lord]

Having no kids my wife and I have reciprocal simple wills leaving everything to each other. If we both cop it together I couldn’t give a toss what happens. Let the f*****s fight. My legacy.

My big worry is not having spent every penny. I’m on track.

I have always liked you Mon, I see you as a father figure - almost like my online dad