will information

[superbagpuss]

dh and I need to write wills
how do we do this so it is legal?
how much will it cost?
is there anything we need to know?

can we put assets in trust for DC rather then to each other?

how do we go about naming items for people

[Lonecatwithkitten]

Mumblechum's your lady she has an ad in classifieds.

[mumblechum1]

Thanks for the plug LoneCat!

OP, prices will vary. I used to charge £280 plus VAT, so £336 altogether, when I was in high street practice. I'm now freelance and charge £150 for a pair, and no VAT is payable.

So far as putting assets into trust for the children then to each other I'm not sure why you'd want to do that? It would usually be best to give everything to one another in the first instance, then when the second of you dies, the joint estate is distributed between the children. You should avoid a situation in which the money is held in trust for the children in such a way that the surviving spouse is struggling.

There are other things you could do if your circumstances are unusual, eg if you're a stepfamily, or one of your children has a disability.

So far as naming specific bequests, I normally advise against doing this for younger clients as often by the time they die, the items are no longer in their possession for whatever reason. It's often better to do a separate letter of wishes which can be altered as often as you like, without having to go to the expense of re-writing your wills.

Please feel free to PM me if you'd like any more info.

[superbagpuss]

thank you mumble chum, I will definitely be telling dh about your service

[BergholtStuttleyJohnson]

Me and DH are in a similar position but we can't afford those sorts of prices. I have ordered a will writing kit off amazon. My understanding is that I basically fill it in and sign it, two witnesses sign and that's it. Does anyone know if this is correct? We have no money so don't care about that but we want to appoint guardians.

[Lonecatwithkitten]

Bergholt as I understand it the DIY kits are often worse than no will at all and sometimes not legally binding.
£150 for a pair of wills is really very cheap. Could you save up for it?

[mumblechum1]

Thing is, you may not have much money now but the likelihood is that your circumstances will change before you pop off. A well-written will will last a lifetime as it will foresee changes and plan for different eventualities.