Wills and executors
On Thu, 09 Jul 2015 08:57:02 +0100, stuart noble wrote:
On 09/07/2015 00:25, DJC wrote:
On 08/07/15 18:31, stuart noble wrote:
It's straightforward if nobody challenges it*, and it's an essential
thing to have if the intestacy rules don't cover your requirements. If
you have a wife and kids, then why would you need a will? (unless
you're Bill Gates or Warren Buffet)
My father never made a will. When he died thirty years ago I expect he
assume that it would all go to my mother. But that's not what the
intestacy rules laid down. It took a deed of arrangement to prevent
things getting even more complicated when my mother dies a few years
later. Needless to say having sorted out the problems on my father's
death getting my mother to write a will was something I insisted upon.
If you have a wife and kids you most certainly need a will.
How did the money not go to your father's wife then?
Because the rules state (current values) that the first £250,000 goes to
the widow, and she also gets half of the remainder. The rest is divided
equally among children. Can be a problem if the estate includes the house
that the widow is living in, and the children want their share now.
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