What Will is right for me?
Mr and Mrs Jones have been clients of ours for over 5 years. They are both residing in Lincolnshire, in their forties and have 3 children. Two of the children are from a previous marriage of Mr Jones, and one child is from their marriage together. They came to us wanting advice on making a will in Lincolnshire.
They both came to me with individual concerns that the children may not be treated equally if one of them passed away first. As the other remaining spouse may decide to remarry again, meaning the children may be disinherited completely. Or that Mr Jones’ own children may not receive as much as their child together. We helped them with making a will in Lincolnshire, resolving their concerns.
Making a will in Lincolnshire – expert advice
We advised that due to them having a house in joint names and some savings in sole names, and in light of the worries they had with their family setup, that they maybe consider both creating a single will instead of mirror wills. As this would ensure that on first death, a specific amount of the estate could go to each other as spouse. Another amount would then go to the children for when they were of age to receive it. More importantly, in this setup, the existing wills couldn’t be changed or altered by the remaining spouse. Which can happen in the case of creating mirror wills in Lincolnshire.
In creating single wills, they were also both then able to appoint another executor each, besides one another. To help ensure the wishes for the children were carried out. We recommended that this second executor be a close relative or friend.
Securing a future
Even though, they hoped this would never be an issue, they felt happier creating wills that reflected their wishes together. Whilst also ensuring that their children wouldn’t miss out completely.
Everyone’s situation is different and by talking through your specific circumstances and concerns, we can ensure you have a tailor-made will. That will deliver to your exact wishes.
Expert advice from Blow Abbott
If you would like to have a chat about making a will in Lincolnshire, please call Sophie Vines on 01472 694569. Or alternatively, complete our contact form and we’ll get in touch.