Making a will, solicitor or DIY ?

Have been advised to make a will and was wondering what other peoples experiences were ? whats the best bet, solicitor or DIY ? I've tried searching it on here but couldnt find anything, thanks.
Stew

Solicitor any day - not touting for business, use whoever you like, but use a solicitor and you'll know that it has been done properly.

Depends how complicated your estate is. If you're giving the lot to Mrs Stewie excepting if she pre-deceases you and in that case giving the lot to all your Little Stewies, I'd go for DIY. A solicitor will take the standard form, fill in your name and put his hand out for £70 + VAT. Fill in your own name and trouser the change.

If you make a total hash of it so what? You'll be dead anyway.

[Bibio]

Originally Posted by Tiger 55

Depends how complicated your estate is. If you're giving the lot to Mrs Stewie excepting if she pre-deceases you and in that case giving the lot to all your Little Stewies, I'd go for DIY. A solicitor will take the standard form, fill in your name and put his hand out for £70 + VAT. Fill in your own name and trouser the change.

If you make a total hash of it so what? You'll be dead anyway.

+1. gives the living something to fight over

Originally Posted by Tiger 55

Depends how complicated your estate is.

Trouble is that the laws are quite complicated once property is involved and it's easy to get over the IHT threshold these days even with a relatively modest property.

By planning ahead you could save your family 1000's for a modest outlay so it's worth taking some specialist advice.

+1 for the solicitor.

We needed them for our mortgage or for something else around the same time. Either way I gave Abi a side of A4, signed by me and my boss. It simply says something along the lines of: In the event of my demise Abi gets everything, if shes already dead my sister gets half of my worth the other half gets split up between my cousins, then lists their names. This was faxed to the mortgage solicitors and was accepted so I'd guess it depends how complicted you make your distribution I guess.

[Luckypants]

Where property and children are involved, go to the solicitor. DIY is OK but unless it is very simple, it can easily be worded in an 'unclear' way to the legal eagles, leading to problems come execution time. All of that adds to stress on those left behind at a time they least need it.

Another thing to think about if you have been advised to make a will is continuing power of attorney, which will allow your loved ones to make decisions and operate bank accounts (even joint ones are frozen) should you become incapable. A decent solicitor would bring this up.

Originally Posted by leedsmatt7

We needed them for our mortgage or for something else around the same time. Either way I gave Abi a side of A4, signed by me and my boss.

That's okay when you're young but hopefully your circumstances will change and you'll have more to leave to your family. what if you have kids? You wouldn't want that will to be valid then, would you?

Don't want to be the harbinger of doom, but one day the parents/in-laws will pass away then you'll have other things to think about if they leave you high-value assets. That's when you'll need specialist advice.

Update your Will every few years or as circumstances change

Originally Posted by leedsmatt7

We needed them for our mortgage or for something else around the same time. Either way I gave Abi a side of A4, signed by me and my boss. It simply says something along the lines of: In the event of my demise Abi gets everything, if shes already dead my sister gets half of my worth the other half gets split up between my cousins, then lists their names. This was faxed to the mortgage solicitors and was accepted so I'd guess it depends how complicted you make your distribution I guess.

Then I regret to say that your will is void as it is not executed properly. See how easy it is to fall foul of the rules. You need two independent witnesses, both of whom must sign in your presence AND in the presence of each other.

On the DIY thing, what's the answer to this.

Mr owns 3 properties. He thinks he needs a separate will for each so goes into WHSmith and buys 3 separate will forms. He leaves them all to lady friend. Mr dies. Sisters in Ireland are nearest living rellies. Only problem for lady friend is that the WHSmith painting by numbers form of will has a standard reviocation clause. There was no evidence as to which will was executed first. Are all the wills valid, or do they all fail as they all revoke each other?

This was litigated. There is an answer... what is it?

Originally Posted by Bibio

+1. gives the living something to fight over

Yes please. A disputed probate is worth a few grand Better than the £70 for a standard will, and the risk that goes with it.