Wills

[3offTheTee]

Not sure whether anyone is well up on making a will.

We have a couple of lads mid 30's who are named as Executors and are both more than capable of carrying out the task and it would save on costs.

The will was made 15 years ago when they both worked in the City. Problem is now they are in Madrid and Sydney and I can see there being problems from a practical point.

Immediate thought was to appoint them joint Executors with a local solicitor as the cost involved would seem to be small compared to the benefit.

Any thoughts would be appreciated

 

[Doon frae Troon]

World cruise?

 

[anotherdouble]

The problem you have is somebody has to physically attend court for the probate hearing. This would I would guess rules out your son in Australia so therefore having him as an executor is non beneficial. If your son in Madrid can do the paperwork and attend court then no problems. If you use a firm of solicitors they would do all of the work but charge you aprox 3% of the estate. A firm of will writers will also do the job very well and can charge anything from 1-3% of the estate. The cheapest way is to use a close reliable friend who can do the paperwork and be able to attend court. Hope this helps.

 

[Hobbit]

Any thoughts?

Don't have either of your sons as executors.

My parents made it very clear to my two sisters and I that they wanted a solicitor to act as executor to stop the possibility of 'family' arguments. Unfortunately it wasn't written into any will.

The lazy solicitor suggested that one, or all of, us be executor to save money. My youngest sister jumped at the chance, despite my protests. We fought all through probate, with me repeatedly reminding her of our parents wishes.

Sadly, we've not spoken for 4 years. Christmas & birthday cards are returned... what my father feared has happened.

For the sake of a few thousand, name a decent solicitor as executor.

 

[williamalex1]

The lawyer will over rule your executors anyway . Keep your will simple, divide equally between your sons or daughters. It can be a minefield, when property is involved.

 

[3offTheTee]

Any thoughts?

Don't have either of your sons as executors.

My parents made it very clear to my two sisters and I that they wanted a solicitor to act as executor to stop the possibility of 'family' arguments. Unfortunately it wasn't written into any will.

The lazy solicitor suggested that one, or all of, us be executor to save money. My youngest sister jumped at the chance, despite my protests. We fought all through probate, with me repeatedly reminding her of our parents wishes.

Sadly, we've not spoken for 4 years. Christmas & birthday cards are returned... what my father feared has happened.

For the sake of a few thousand, name a decent solicitor as executor.

fair comment, however both sons' have pretty good jobs and whilst I appreciate money is an emotive subject I do not think thee will be a dispute.

However never say never. Have written to a local solicitor now. The problem with a friend, like our kids is that they may pre decease us both. Really appreciate all your comments and suppose it makes a change from ' who will win The Premiership thread!!

 

[Tashyboy]

Whoa, I started the premiership blog,

3off, although your problem of sorting out a will is fraught with complications/problems. It is nothing compared to not having a will at all. Yes it's a hassle but the amount of lads at work that are just not bothered in having a will, well the mind boggles.

 

[3offTheTee]

Cheers Tash.

I made a will 15 years' ago so no problem there. It has been reviewed a couple of times but as I said with family living a long way away it is impractical for them to be Executors.

Obviously we are not rich but additionally if we have to go into residential care, no reason why we should, I want to do everything to keep costs to a minimum