Go To Mortgage 101

Return To Group Index

From: John Boyle 
Newsgroups: uk.finance
Subject: Re: Making a Will
Date: Sun, 29 Jul 2007 18:04:51 +0100
Bytes: 3447

In message <22epa316atablcac2ijk8p6v6jvptet5n5@4ax.com>, Anthony R. Gold 
 writes
>> Sure, I have yet to see a will drawn by a 'will writing service' that
>> does what the client thought it would do, or is in some other way,
>> defective. e.g. one client (whose spouse died over 2 years ago) came
>> with a will that she though created a nil rate band discretionary trust.
>> IN fact it merely gave HER two years to create the trust.
>
>The law gives her 2 years automatically for any legacy to which she was
>made the sole beneficiary,

Which she wasnt.
>so WTF did that Will "give" her?

Nothing. Which is my point.  She thought it did though and she and her 
deceased husband had paid for it. She was obviously  quite stupid about 
legal matters and didnt understand what had happened. She needed proper 
help and advice and didnt get it. She would have had to pay more dosh to 
do what she thought she had already paid for, but because she thought 
the will did something (which it didnt) then the 2 years expired and it 
was too late. In any event, she wasnt the sole beneficiary and a DoV 
might not have been accepted by the others.
>
>> Having said all that, most solicitors cant do it either.
>
>In Patrick's case of a single person with no dependents I can't see what
>harm could be done with a DIY or online Will, just as a stop gap until he
>acquires some responsibilities.

You sound like you are the prime candidate to buy a crap will. Patrick 
assets are in excess of the Nil Rate Band. We dont know if he has a 
partner, 'live in' or otherwise. We dont know what properties he owns or 
what his other assets are. A DIY job could easily see the beneficiaries 
caught owning parts of properties or youngsters or many other pitfalls. 
Beneficiaries could easily have to pay more IHT, CGT or POAT or ending 
up owing properties jointly with people with whom there is animosity, or 
inappropriate trustees appointed for minor beneficiaries.

Will Writing Firms keep litigious lawyers in Porches.

>  Any marriage will void the Will anyway.

Yes, unless it was written in anticipation of that marriage of course.

I accept that a DIY will is probably better than no will at all, but on 
the other hand a badly drawn will is probably better than no will at 
all.
-- 
John Boyle