Making a will and leaving money.

ColinEssex

ColinEssex

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Me and her indoors are in the process of writing wills.

Obviously the first of us to die will leave everything to the surviving spouse. The issue comes in deciding what to do if the last one dies.

We have no children, it's doubtful if any of my two sisters will be alive, nor will the wife's brother. So effectively we have nobody to leave our estate to. We had a chat the other day to our financial bod and she said why on earth have we got so much money? Plus of course a house with no mortgage.

Her idea was to spend most of the money save for around £10,000 or so just in case then leave the house and any money left to charity (we support animal charities).

Anyone else having a problem with disposal of ones estate?

Col
 
AccessBlaster said:
If a story doesn't make sense, it's probably not true.
Click to expand...

It actually is true.

It's very likely when the last of us dies, apart from a few nieces and nephews who we never see and have no idea where they live, we will have no one to be informed we are both dead.

In fact, if we make a solicitor the executor, how will they know we are both dead?

As far as the money and estate value (or residue) as it is called, we don't care too much as long as some animal charities get it. How that will happen we have no idea.

Col
 
Seems like a reasonable plan to me.
 
AccessBlaster said:
People who have money do not boast about
it. Secondly people that acquire large sums of money know what to do with it.
Click to expand...

You did not read my post very well, you totally misunderstand what I am saying.

Never mind though, I knew asking a sensible question would be met with the usual ridicule.

Can a mod please lock this thread?

I don't wish to be ridiculed for trying to find out what happens after death to ones estate.

Col
 
C'mon Col you have dished it out often enough try and take little leg jerking back.


Obviously the first of us to die will leave everything to the surviving spouse. The issue comes in deciding what to do if the last one dies.
Click to expand...

I did like that"if" , intending to live for ever are we col?

To be serious it is sad if you have not only no relatives but also no friends to mourn your passing or celebrate your life depending on what turns you on.

I say this as you question how the solicitor will know you have died.
Why don't you have a chat to your doctor as he/she will probably be aware of the event as the death certificate is signed.

That's enough seriousness.
If you really don't know how to dispose of your assets I can lend you two daughters who will have no trouble.

Cheers
Brian
 
Thanks Bri, the voice of reason.

This subject is just a bit sensitive for me and Mary, particularly with Mary's condition and my heart attack a few years ago.

We do have friends in Bristol whom we have known for 40 years and still chat regularly, they have more money than us so are not in need. My nieces and nephews are spread around the country and we never see them these days now they are all married with kids. One is even married to a millionaire and have a massive spread near Gloucester.

Our estate is destined for charities, I suppose if the last one is in hospital we could name the solicitor as next of kin then if they are the executor they can dispose of it all after death is confirmed.

We have already earmarked a few grand to spend on the garden.

Anybody done equity release?

Col
 
Last edited:
Well - there may not be as much left over as you expect if the final one standing requires care in a home - the government essentially puts a lien on your estate to cover the cost of such care, or they may require you to use up your assets to fund such care.

Given that you have no close relatives, you might want to consider who is going to take care of your estate should the surviving member become mentally incapacitated ....
 
daievans said:
Well - there may not be as much left over as you expect if the final one standing requires care in a home - the government essentially puts a lien on your estate to cover the cost of such care, or they may require you to use up your assets to fund such care.

Given that you have no close relatives, you might want to consider who is going to take care of your estate should the surviving member become mentally incapacitated ....
Click to expand...

Hmmmm, interesting, food for thought.

Research needed there.

Col
 
ColinEssex said:
Hmmmm, interesting, food for thought.

Research needed there.

Col
Click to expand...

If you want to be certain that your charity gets something, give em the cash now. If the last one standing does run out of cash, the UK government will pick up the tab. I think they take it down to about £23,000 currently
 
Leave some of the money in your will to go to this Access Programmers forum
 
scott-atkinson said:
And a fellow Essex Man will happily take the burdon away from you ;)
Click to expand...

Too late, we have decided. Nothing for access forums, nothing for Scott, nor Brian's daughters. End of. All sorted, thanks for your input chaps.

Where are you in Essex Scott?

Edit, I see you're not in Essex now, no lunch for you then!

Col
 
Groundrush said:
Leave some of the money in your will to go to this Access Programmers forum
Click to expand...

You don't have to wait until you die to support this forum. Its not as if its that expensive especially when you're estate is expansive ... ;)
 
daievans said:
You don't have to wait until you die to support this forum. Its not as if its that expensive especially when you're estate is expansive ... ;)
Click to expand...

No thanks, I'm not paying to get banned. With all the mods (especially one) itching to ban me I can do it for free.

Col
 
I'm and ex Basildonian boy.... living up in the grim smog of the West Midlands now for my sins...
 
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