Married couple no will, it is really necessary?

Lisha

Hi

The issue is that my husband and I have no will written as yet
We have a house with mortgage in both names
Car each in our own names
We each have our own bank accounts only
We have two young children
We have largeish life policy in case of either or both of our deaths (for kids)

Husband just can't bear the thought of writing will
I want it sorted for 2 main reasons
-So our children will be provided for and the life policy money will be used in best possible way in case of us both dying together
-I've heard that money in single named accounts is frozen if person dies and other half won't be able to access and tax may be payable on it

So how stupid is it for us not to have a will written
I need logical factual arguments to try and make husband see sense

Thanks for reading any opinions welcome

maithanfear

Make him an offer he can't refuse.

Procrastastudy

So, God forbid, you both die in a car crash tomorrow - what happens? Who is looking after sprogs, who is managing their affairs? Should be the only reason he needs really.

dpofloinn

2 Kids should be reason enough

tayto lover

It is very important so just get it done.

Grolschevik

Procrastastudy wrote: »

So, God forbid, you both die in a car crash tomorrow - what happens? Who is looking after sprogs, who is managing their affairs? Should be the only reason he needs really.

Not sure you can bequeath your children: "In the event of our deaths, we wish our offspring to be sold to the highest bidder and the money used to freeze our heads".

But seriously, even if a 'guardian' is named in a will, if that 'guardian' refuses or changes his/her mind, it'll be the State that steps in.

But I presume what the OP wants is a list of all the hassles/problems/issues that will result from not making a will. By the way, OP, you can go ahead and make your own will anyway.

Procrastastudy

Grolschevik wrote: »

Not sure you can bequeath your children: "In the event of our deaths, we wish our offspring to be sold to the highest bidder and the money used to freeze our heads".

But seriously, even if a 'guardian' is named in a will, if that 'guardian' refuses or changes his/her mind, it'll be the State that steps in.

Someone told me that babies are going for 45K - I never wanted children now I want 20.

Grolschevik

Procrastastudy wrote: »

Someone told me that babies are going for 45K - I never wanted children now I want 20.

45k every ten months or so... sweet. Of course, you'd have to move to Somalia or somewhere. Where on that kind of money, you'd live like a king. Anyway, better drag it back on topic.

OP: you can get your own will made, without your husband's input.
If he doesn't make one, depending on who dies first, there will different issues.
The separateness of your cars and bank accounts isn't an issue in these circumstances.

Luca Brasi

Lisha wrote: »

Hi

The issue is that my husband and I have no will written as yet
We have a house with mortgage in both names
Car each in our own names
We each have our own bank accounts only
We have two young children
We have largeish life policy in case of either or both of our deaths (for kids)

Husband just can't bear the thought of writing will
I want it sorted for 2 main reasons
-So our children will be provided for and the life policy money will be used in best possible way in case of us both dying together
-I've heard that money in single named accounts is frozen if person dies and other half won't be able to access and tax may be payable on it

So how stupid is it for us not to have a will written
I need logical factual arguments to try and make husband see sense

Thanks for reading any opinions welcome

It is extremely stupid. Your husband should show a bit of maturity and ensure that a will is made. It is just childish superstition not to make a will. As one poster wrote what arrangements would be made for the care of their children in the event of you both dying. You should have a proper provision in place whereby a guardian can be named to look after your children until they are 18.
In a will you are able to dictate what happens your possesion, property etc. Does your husband want some other family member trying to make a claim on your property.
A will solely from a financial point also means that funds will not necessarily be spent on legal fees.

Pat Mustard

Lisha wrote: »

So how stupid is it for us not to have a will written

It's not stupid. At the same time, it may not be ideal. Wills don't cost a lot of money, generally, so it makes little sense not to make one. A will can ensure that the most appropriate arrangements are in place.

Lisha wrote: »

I need logical factual arguments to try and make husband see sense

If you decide to make a will, you have a lot of discretion as to how your assets should be distributed. If you do not make a will, you allow a law which was drafted in 1965 to govern the distribution of your assets upon your death.

If you make a will, you can appoint executors. You can appoint sensible, level headed executors, with a view to carrying out your wishes in a calm and sensible manner.

If you make a will, you can appoint testamentary guardians to take care of your children, in the event of your death. If you do not make a will, this will not happen.

If you make a will, you can make a gift of trust property (trust fund) in your childrens' favour, you can appoint trustees to oversee the operation of the trust, and you can decide upon trustee powers to be given to those trustees.

Depending on the circumstances, a will can be drafted to avoid tax as much as possible.

If a will is specific as to your wishes and what each beneficiary should get, it may prevent bickering among beneficiaries.

ezra_pound

Read the act of succession 1965. It explains how testacy and intestacy works. Under the rules of intestacy all the assets will remain within the immediate family, you/your husband or your children.The spouse gets two thirds and children divide remaining third. If you both eie the children get all. If you want a more specific disposal of your assets then you need to write a will.

valleyoftheunos

Its very important that you and your husband visit a solicitor and draw up mutual wills as a matter of urgency. If you do not and one or both of you die everything will be divided according to the rules of intestacy, things will stay within the family but you will have no control over who gets what share, who administers it and it will take longer, require more lawyers and cost a lot more.

If you make wills you can provide for what will happen upon your deaths (and after all, we can be certain that we will all die some day). You can decide who is to get what, who is to look after the property and money until your children are adults, you can plan how things are to be divided so as to pay the least about of tax and most importantly you can be certain that things are going to be dealt with in the way you want.

Leaving a will makes things much much easier for those left behind and will make the process much much cheaper in terms of legal fees.

Your husband must face up to writing a will, it is not a difficult process and a competent solicitor will be able to do it with minimum fuss in just a couple of meetings.

Kosseegan

First off, when someone dies and there is no will, all of their property becomes vested in the president of the high Court. Someone has to apply for a grant of administration in order to deal with the property. That means a car cannot be sold or money cannot be moved from a bank account. Getting administration is time consuming and incurs expense. making a will avoids this as when there is a will all the property devolves on the executor. In the absence of a will the intestacy rules kick in and this can mean that the surviving spouse has to sell the house in order to give the children their share.
Once there are children it is irresponsible not to have a will. The cost of making a will is relatively low and does not take long.

trishasaffron

Fair bit of misinformation going on here. Most of the jointly owned property will vest in the surviving spouse on production of a death cert only.

But it might make it easier for any incidentally separately owned property to have a will. And it certainly would make sense to write wills that envisage the unlikely event of both dying. Unlikely as it seems I have actually encountered it!

GismoBaby

The whole 'will' thing is a question i often wonder about too. I have 2 boys. I am the sole guardian and sole custodian of one and the other i am joint guardian but sole custodian. If i died does the one i am joint guardian of automatically go to his other guardian even if I say different in a will?

SO say I decide that both boys should live with my sister and put that in my will, could the remaining guardian step in and try to stop that happening by bringing the matter to court? if so whats the likelihood of the judge splitting the boys up?

Pat Mustard

GismoBaby wrote: »

The whole 'will' thing is a question i often wonder about too. I have 2 boys. I am the sole guardian and sole custodian of one and the other i am joint guardian but sole custodian. If i died does the one i am joint guardian of automatically go to his other guardian even if I say different in a will?

SO say I decide that both boys should live with my sister and put that in my will, could the remaining guardian step in and try to stop that happening by bringing the matter to court? if so whats the likelihood of the judge splitting the boys up?

There have been some amendments to section 7 of the Guardianship of Infants Act 1964, but it's worth a look. (In case you want to check amendments).

Can't give legal advice according to forum charter, but if you take a look at Alan Shatter's book on Family Law, he writes that judges don't like splitting up siblings, in general.