DIY wills - have you made one?

[beanzontoast]

Has anyone written their own will?

Asking because my kids received a small legacy from a relative a few weeks back and it made Mrs B and I think that we ought to get around to writing our wills too. I know you can buy forms at stationers and some Post Offices - we're not looking to do anything complex in them, just leave everything to the other spouse (and should anything happen to Mrs B and I simultaneously, to our kids). Not the sort of stuff that should need a solicitor to draw up.

Has anyone experience of doing this? How did you know what to do?

 

[Globalti]

Just make an appointment at your nearest solicitor. Simple really!

 

[beanzontoast]

Just make an appointment at your nearest solicitor. Simple really!

Except the fact you can buy the forms and do it yourself for 'straightforward' wills (which is what we are after) saves money! Which is why I am interested in finding out if anyone's actually gone down this route.

 

[col]

These packs have all instructions in them,the most important bit is signed witnesses,but do the job for what your looking for,we are doing the same thing soon.

 

[snakehips]

I have done it.
If the estate is simple the will is simple. The pack should include simple examples. Further examples should be available on the web , most things are these days.

Snake

 

[mr_cellophane]

Except the fact you can buy the forms and do it yourself for 'straightforward' wills (which is what we are after) saves money! Which is why I am interested in finding out if anyone's actually gone down this route.

It might save you money today, but will a DIY will save your kids money in the future. Go to a solicitor, it will be cheap for the peace of mind that your kids will be looked after by the person you want them to be, where you want them to be and that any money will be distributed properly.

 

[Over The Hill]

I am very interested in your feedback (sorry don’t want to hijack the thread).

I am a property lawyer and was made redundant a couple of months ago. There is no legal work out there especially nothing in property.

I have been looking into the idea of setting up a Will Writing business.

Problem with Wills from WH Smith is you may miss out on some way of saving a lot of tax and also a fair few (about 20%) are filled out wrongly and useless.
Problem with going to a Solicitor is they do not give you a price when you walk in and are sort of committed to them when they spring the fee on you. You also have to go and see them in office hours.

What about a professional Will Writing service that comes to you at your preferred time (day/eve/weekend) charged less than a Solicitor but gives a better service?

My concern is that most people don’t want to think about Wills and so it is difficult to get them to take any action.

Also how should I get business? Good quality leaflet through the door? I cant just open an office and wait for people to walk in but advertising (local paper etc) would be too expensive to generate a return.

 

[BigonaBianchi]

I think a basic mirror will off the shelf DIY jobby is ok for the smaller basic estates, however you'd be surprised how even peeps of moderate means often need/want a mor e'complicated' will set up. I think IHT planning (if necessary) should be done at the same time as will planning...a good soliciter who is also a COMPETENT IFA is worth the cash on larger estates.

Jus ton the issue of setting up a will writing business...it's bloody hard work...I knew several people who went down this route. Referrals from IFA's help.

 

[Abitrary]

I'll make my will right now.

You can herewith have all my knick-knacks, cutlery and stuff in my drawer etcetera, etcetera, etcetera.

 

[Fnaar]

Can I specify who any debts go to? Then when I get a dodgy diagnosis, I'll go to town! (and spend some money)

 

[Maizie]

Can I specify who any debts go to? Then when I get a dodgy diagnosis, I'll go to town! (and spend some money)

Nope - they'll just take all that you owe out of your estate. if you owe more than your assets, then nobody inherits the debt, but there's nothing else for them to inherit either...depends on how much you like your beneficiaries, I suppose...

 

[beanzontoast]

Thanks all for the responses.

I think we will seek out one of the printed jobs from Smiths or somewhere - one that gives you an example or two - and go down that route. Both our kids are grown up, so no worries about who would look after them. As we're looking at the simplest of wills, I don't see that a solicitor would add anything much.

I wonder if there are any online examples of basic English wills to be found?

 

[byegad]

Please, please don't do it! In my family two wills were home made and both cost the children a fortune to sort out. There is a formula for a will and if you state something the 'wrong' way it doesn't mean what you want it to mean. In one case the children had to revoke the will. if one had not wanted to do this it would have meant the surviving spouse would have been left bankrupt and homeless. In the other a stupid requirement meant that the estate could not be distributed for several decades after the death.

For the small fee at a solicitor it is all correct and saves heart ache and money after your death.

 

[beanzontoast]

Please, please don't do it! In my family two wills were home made and both cost the children a fortune to sort out. There is a formula for a will and if you state something the 'wrong' way it doesn't mean what you want it to mean. In one case the children had to revoke the will. if one had not wanted to do this it would have meant the surviving spouse would have been left bankrupt and homeless. In the other a stupid requirement meant that the estate could not be distributed for several decades after the death.

For the small fee at a solicitor it is all correct and saves heart ache and money after your death.

Ok - now I'm officially thinking twice!

 

[louise]

Its something I must sort as I don't want either "parent" to get their paws on any money that is left.