The Lemon Fool

Hello. I need to update my will to make it more up to date. I previously had a will made by a solicitor many years ago when my affairs were more straightforward; however, with the passage of time circumstances have changed.

I wish to make a new will to include a provision to grant/create a life interest trust such that my partner can continue living there after i've popped off, and my half is held in trust. We own our house as tenants in common.

There are also some investments which will need to be distributed after settlement of any debts and IHT.

Are there any pros and cons to using a solicitor to write such a will compared to using a 'will writing specialist'?

I could for instance engage a latter type who follows "strict guidelines mapped out in the STEP will writing code(The Society of Trust and Estate Practitioners)". However, the latter is not a qualified solicitor but now writes wills for a business. On the other hand I can get such a will made via my union's solicitor and the quoted cost in either case (solicitor vs will writer) is broadly similar. Unfortunately the union's solicitor has already said that overall it could not be considered as a simple will.

I would wish to avoid any unforeseen conflicts or complications for the executors to have to deal with!

Thanks.

Rajput1962 wrote:the union's solicitor has already said that overall it could not be considered as a simple will.

This is good advice and should point you towards using them.

As a general principle (unless you are very rich) avoid leaving things in a trust, either leave them the asset or don't. Trying to force future inheritance wishes from the grave is a bad idea because you don't know what the future holds.

So for example if you want your sister to inherit the property, leave it to her and ask nicely if she will agree to rent it to your partner for a peppercord rent.
If you don't trust the sister not to boot out your partner and sell the place, then leave it to your partner and ask them nicely to leave half to your sister in their will.

Both options result in a simple will that is not going to lead to any expensive lawsuits.

To answer your question, I would always use a solicitor because they will be the ones to have to clear up any problems once you are not around. They may possibly have more experience of what might be best in your circumstances.

I think that what you are proposing is not that unusual. It is sometimes used in the circumstances of a second marriage where the house might be owned by the husband and he sees it as destined for his family from the first marriage. He might well though want to give his now wife the right to stay in the property for the rest of her life if he dies first and a Will trust may be required. I would not though rely on the goodwill of a family member (which seems to be what Lanark is suggesting) to allow that to happen. The prospect of money or assets can corrupt people's thinking, but anyway that is not what you are asking. I think that a solicitor (a good one that either you know and can trust or one that comes with a good recommendation) who is experienced in family matters would be best for this task.

Dod

my SOLE experience of a union's will, was my dad. Ebverything was greeat . Until he died.

And we found under the THEN threshold for IHT IF my mum were to die me and my brother would have been left with IHT to pay.

this was for a nice detached house but ina VERY average sh1thole... I mean commuter town in Norf kent. It was NOT a paace.

So my mum got a posthumous will change ,mularkey which then put dfad's half of the house in trust for me and brother, and mum kept hers etc. cost her £1500

so - nowt wrong with union wills... but id suggest on the basis of my singular expereince (and thus <<<< ) ... make sure you understand what they are providing.

didds

Before you £commission anyone, it is well worthwhile to write down in tedious detail exactly what you want to happen in all foreseeable circumstances, almost as a computer programmer would:

IF (blah1 should die before blah2) THEN:
some actions
ELSE
some other actions

and so on

Then try to simplify it.

And only then give it to a professional who, if they are competent, will challenge what you have stated and offer ways to simplify things further without creating ambiguity.