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Making a Will

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Bit of a morbid topic, sorry.

When is a good time to make a will?
When you get married?
When you have children?
When you have assets?

Is it necessary to make a will if you don't have either children or assets?

Have any of you made wills?

I had a :crazyeyes moment the other day and realised that I have neither a will or any idea about making one! Not that I own anything *that* valuable. Except my yarn stash. Kaff can have that though.

eta I haven't googled or anything because I'm more interested in just discussing it a bit rather than looking for websites with instructions on how to make one :)

Comments

  • Indrid ColdIndrid Cold Warming up? Posts: 16,688
    I would think it's useless if you don't have assets. Unless perhaps you have a specific person (people) you want to leave what cash you have to.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I wouldn't say it is useless, leave a charity in your will. Even if you only have furniture, The British Heart Foundation, amongst others make their money through selling donated furniture and clothing. :)
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Gettnig married removes a lot of the need for a will, usually.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    so, when you make a will, can you just type it up and print it out and have it in a file somewhere? or does it have to be signed by someone else?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    It has to be witnessed by two people - who have to see you sign it.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Except my yarn stash. Kaff can have that though.

    :D:heart:

    Neither of us have wills, although BOTH of us should have, as we do have assets and are soon to have a dependant! Being married makes it much easier, especially if you don't own a great deal, but IIRC it's not as simple as just everything you own goes to your spouse.

    Plus, what would happen if you both died at once? I know it's awful, but you have to think of these things! I *think* in that case that your stuff would go to your parents, but if you wanted to, just as an example, you could specify that everything be shared between your siblings instead. I've just been trying to get my head round it, and it's a bit :crazyeyes

    There's a load of useful info here. Bit legal-jargony, but it clears a lot of things up!

    What I can't find out, though, is if we were both to die without leaving a will, who would get custody of any children? I would assume the grandparents, but whose? Or would it be shared equally?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Kaff wrote: »
    What I can't find out, though, is if we were both to die without leaving a will, who would get custody of any children? I would assume the grandparents, but whose? Or would it be shared equally?

    I think you have to specify this in your will. I know my sis has just done something like this, as she would like my mum to have her son if anything happened to her and her hubby, rather than his mum. He agreed and they were advised to get it in writing. If there is nothing laid down as far as I know anybody could fight for custody.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I know my parents had listed my dad's sister and her husband as guardians in their will, with their best friends as "back up" guardians.

    It's a good idea to get that sorted though because you'd want to have some say in who raised your children if you died.

    I hate thinking about these things but when you think about children you really have to.

    But yeah you can have my yarn Kaff, there is even a couple of balls of varigated acrylic in there, just for you :heart:
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    But yeah you can have my yarn Kaff, there is even a couple of balls of varigated acrylic in there, just for you :heart:

    I feel so special! Do you think this counts as a legal contract? :p

    I know we really do need to get it sorted, and we will, I just wondered if there was a default option the way there is with your possessions? It doesn't seem to be mentioned anywhere! I would think the courts would give preference to blood relatives etc if there were to be a custody battle?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    i dont have a will.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I don't have a will and don't think I need one. No assets and the people who would want custody would be the people I would chose to have custody so, no need me thinks.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    i don't have a will. apart from my house, i don't really have anything of value. i don't think i will worry about sorting out a will until i am married and have babies. both me and my fella signed something when we bought our house that stated that if anything ever happened to either of us, then our half of the house would go to our next of kin (for him, his mum. for me, my dad).
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I remember them asking if I had a living will when I went in for surgery a few years ago... that freaked me out. Havn't thought about it again till reading this thread. I told my parents I dont want to be a vegi and they can have Simba when I am dead... which I think they are planning on killing me anyways since I put them down for my life insurance beneficiaries. It isn't much but they'd do it.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Big Gay wrote: »
    Gettnig married removes a lot of the need for a will, usually.

    This is a misconception. It is almost even more important to make a will when one gets married. Dying 'intestate' under the Administration of Estates Act 1925, the spouse and children do not automatically receive everything in the deceased's estate.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I dont have one. Dont really need one just yet, but will once major assets/relationships/kids come along. Have been nagging my parents for years to get theres sorted. There are certain people in my family that I would prefer not getting their hands on anything once my parents have gone, and in the same vein people that I know my parents want to benefit but wont unless they state it.
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