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Legal, pensions and money

Grandparent wills.Have you done this?

(32 Posts)
busybeejay Tue 29-Jun-21 21:00:19

Has anyone done this or know about it.As I understand it half your will goes into a trust fund for your children.

Germanshepherdsmum Sat 03-Jul-21 17:57:59

I can only say, as a retired solicitor, that it’s easy to think a situation is simple when a ‘what if…’ prompt from a solicitor shows you it may not be. It’s definitely not the case that the more you plan for a scenario the more it costs. And Nannarose, when in your opinion does it become ‘necessary’? I’m not trying to be rude or offensive but we just don’t know what’s round the corner. We put off doing a will, or make one which for any of a multitude of reasons isn’t valid or is only partially valid, die wholly or partly intestate and our assets are divided up between our blood relatives (nothing to partners or step-family) according to statutory rules, in which grandchildren don’t feature if their parent, our child, is still alive. My and my husband’s wills (made by another solicitor, that wasn’t my area of practice) and powers of attorney (please do them!) set out our wishes and give us peace of mind. And Nannarose if you are suggesting there was negligence on the part of the solicitors you mention you should ask another solicitor for advice - we don’t all close ranks and stick together! Or was it just that the solicitors had done a proper job on less than simple estates, which perhaps you should have got some help with administering if you were the executrix?

foxie48 Sat 03-Jul-21 18:47:44

It's not expensive to have a solicitor draw up a will and it potentially saves a lot of money and heartache fwiw a beneficiary can use a deed of variation to pass money on to their children if they don't need it themselves eg My MIL, who lived to a very great age, left money to her three children but they all either passed it on to their children/grandchildren as they didn't feel they needed it themselves.

M0nica Sun 04-Jul-21 08:37:55

I wouldn't even contemplate making a will without using a solicitor.

Nannarose Sun 04-Jul-21 09:02:16

Hello, I'm going to answer the questions, and then bow out. I don't want to appear to be pushing DiY wills, it's just that I think they can, on occasions, be useful.
The definition of 'necessary' has been in my case, when being guided through the LawPack questions - although on both occasions I thought it would be needed.

On 2 occasions I have done a DiY will. Should I have become incapacitated and unable to alter it, it really wouldn't have been too awful. The first said 'everything to my spouse' and the second ' everything divided equally between my (named) children'.
On the occasions I have used solicitors, it has been about the guardianship of my young children, and now, setting up a trust for the grandchildren, and also leaving money to my children's partners.

The wills I have been involved in executing - the DiY was kept up-to-date, was straightforward and simple. The other 2 were allowed to get old. No, there wasn't any negligence or poor practice, and neither were they complicated.
One will stand as an example: after fifty years it had passed through the hands of 4 solicitors' firms as they merged / were bought up etc. The employees of the solicitor who were named as executors, along with myself and another family member, were now 'unknown'.
The solicitor now holding the will quoted for executing, but also admitted to having a lot of work on. Having previously executed the simple DiY will, I realised that the bulk of the work was basic admin / detective. I might not be as efficient as a solicitor, but I had time and motivation to get it done. So I tracked down surviving relatives, found death certificates, made declarations etc. It cost me a few bunches of flowers along the way. Having established that I was now the only executor, the rest was simple.
I will add that Probate Office were extremely helpful in all cases.

I did my last will and its last alteration with my husband, and am happy with our solicitor. I am not going to put how much we paid because it wouldn't be helpful.

I hope that this debate has been helpful, and would again point out that the MSE site has a lot of helpful advice and discussion.

grannygranby Mon 05-Jul-21 12:05:56

Thank you barmyoldbat I will look at mencap. I have a will recently drawn up by a solicitor but he offered no advice really just did what I asked. It was three years ago and since then the disabled baby has been born and so much more has been found out. It’s so easy to put it aside.. but when the pandemic is over and I can visit a solicitor‘normally’ I will try again with a different solicitor whether to start from scratch or amend the other I have no idea.

Barmeyoldbat Wed 07-Jul-21 12:33:14

Grannygranbe the trust with MENCAP is called a Discretionary Trust, in that the money is left to MENCAP for whoever you name. This does mean and I am sure I will have a few grannetters jump on me, that money as it’s in MENCAPS name is not included in any financial assessment, social or otherwise.