Making a Will

Nicequy

Just wondering what is the best way to leave your family home when there are seven children involved..

Pro Hoc Vice

Give it to the dogs home!

To Elland Back

The executor should get it valued (by 2 or 3 sources). If any one of the beneficiaries want to live in the place, they contribute 6/7 of the value to the kitty and divide it up. If more than one want to live in it, put it to auction and let the best one win

P. Breathnach

It depends on what you want to happen after you have departed. I am supposing, for this discussion, that we are discussing the plans of the last surviving parent.

If, like most parents, you want to share your estate equally between your children, you don't actually need to say what is to happen to the family home. By default, the executor will be expected to sell it for the best price obtainable, and the proceeds go into the pot that is to be shared between your offspring.

It's more complicated if you want to do something different. For example, if one or more of the children is still living there. You can give them a right of residence until something like "the age of 25 or prior marriage". Clauses like that are tricky to construct well, can cause some resentment in a family, and can be abused. Best avoided unless you think there is a real necessity. If you want to do something of that nature, get legal advice. And I'll throw in some non-legal advice: tell your children what your intentions are, and be prepared to discuss things with them. You don't want to cause a family rift after you have gone.

coylemj

When we don't know the individual circumstances of each of the seven children, how can we (the anonymous members of boards.ie) possibly conceive of a 'best way' to leave a house to seven children?

Nicequy

To Elland Back wrote: »

The executor should get it valued (by 2 or 3 sources). If any one of the beneficiaries want to live in the place, they contribute 6/7 of the value to the kitty and divide it up. If more than one want to live in it, put it to auction and let the best one win

Thanks for that information ðŸ˜႒

Nicequy

P. Breathnach wrote: »

It depends on what you want to happen after you have departed. I am supposing, for this discussion, that we are discussing the plans of the last surviving parent.

If, like most parents, you want to share your estate equally between your children, you don't actually need to say what is to happen to the family home. By default, the executor will be expected to sell it for the best price obtainable, and the proceeds go into the pot that is to be shared between your offspring.

It's more complicated if you want to do something different. For example, if one or more of the children is still living there. You can give them a right of residence until something like "the age of 25 or prior marriage". Clauses like that are tricky to construct well, can cause some resentment in a family, and can be abused. Best avoided unless you think there is a real necessity. If you want to do something of that nature, get legal advice. And I'll throw in some non-legal advice: tell your children what your intentions are, and be prepared to discuss things with them. You don't want to cause a family rift after you have gone.

Thanks for reply .. Good advice....No don't want no rows after..

Nicequy

coylemj wrote: »

When we don't know the individual circumstances of each of the seven children, how can we (the anonymous members of boards.ie) possibly conceive of a 'best way' to leave a house to seven children?

Thank you..i am looking at different options ... Maybe they might be one or two still living in family home. Or maybe all seven might have there own homes ..
Don't want any of them upset

iamtony

Sorry for hijacking this thread but It got me thinking of a situation I'm involved in of a similar nature.
If one child stays(the youngest by far) at home to look after an elderly parent and the rest of the family have all moved on and bought there own houses would it be normal to leave the house to the child who stayed at home, well not a child person in question is in there 30's.
I think it would be only right to leave the house to that person who has sacrificed a lot to stay at home but it's causing great conflict with the family at the moment.

4ensic15

iamtony wrote: »

Sorry for hijacking this thread but It got me thinking of a situation I'm involved in of a similar nature.
If one child stays(the youngest by far) at home to look after an elderly parent and the rest of the family have all moved on and bought there own houses would it be normal to leave the house to the child who stayed at home, well not a child person in question is in there 30's.
I think it would be only right to leave the house to that person who has sacrificed a lot to stay at home but it's causing great conflict with the family at the moment.

In circumstances like that, it could well be wrong not to leave the house to that child. A parent is expected to be just and prudent taking into account the number of children, their status in life and any previous expenditure on that child.

PopTarts

Could the other children contest the will of it's left to just one child?

4ensic15

PopTarts wrote: »

Could the other children contest the will of it's left to just one child?

Any child can contest a will. The one who lives in the house could contest only getting a fraction. A child has no right to a share of a parent's estate. they can just make a claim that adequate provision has not been made for them. If parents have educated a child through college and the child is well set up financially, the courts would not be too receptive to a claim.

iamtony

All other children have done well for themselves not through college though, except for one who has drink problems. A will has already been made and the house is going to the youngest and any money he has will be split evenly between the lot although the youngest has said he doesn't want any money at all.
I believe very few cases of contested wills are sussessful in the courts, as they try to follow the wishes of the deceased unless it's an extreme case where someone has been totally left out for no apparent reason.
It's terrible what money can do to people it's torn this family apart already and no one is dead yet.

Pro Hoc Vice

iamtony wrote: »

All other children have done well for themselves not through college though, except for one who has drink problems. A will has already been made and the house is going to the youngest and any money he has will be split evenly between the lot although the youngest has said he doesn't want any money at all.
I believe very few cases of contested wills are sussessful in the courts, as they try to follow the wishes of the deceased unless it's an extreme case where someone has been totally left out for no apparent reason.
It's terrible what money can do to people it's torn this family apart already and no one is dead yet.

It's funny was only talking about this yesterday, an interesting point brought up by one solicitor if a will is made then any child can bring an application which cause a lot of problems. The other option is not make a will and under the rules each child will inherit equally and no one child can challenge.

NUTLEY BOY

Have a quick look at S. 117 of the Succession Act 1965 in relation to the concept of provision for children.

Here is the link http://www.irishstatutebook.ie/eli/1965/act/27/section/117/enacted/en/html#sec117

You will note that child is not defined by reference to age !

NUTLEY BOY

iamtony wrote: »

All other children have done well for themselves not through college though, except for one who has drink problems. A will has already been made and the house is going to the youngest and any money he has will be split evenly between the lot although the youngest has said he doesn't want any money at all.
I believe very few cases of contested wills are sussessful in the courts, as they try to follow the wishes of the deceased unless it's an extreme case where someone has been totally left out for no apparent reason.
It's terrible what money can do to people it's torn this family apart already and no one is dead yet.

Quite so.

Litigation of this type is usually very expensive, can be quite insanely and irrationally bitter and usually ends up achieving equity by leaving everyone equally miserable especially when the legal costs eat up the benefits.

The changing fortunes of the courses of the lives of the intended beneficiaries and or the testator are very good reasons to keep wills under review every few years.

In relation to the drinking one could that be taken care of by his inheritance being assigned to a trust ? This would allow others of sober disposition (the trustees !) to ensure that he does not drink away his inheritance. Just a view - not a legal opinion.

Triona00

Hi,

Just wondering has anybody any idea how to locate a will in London.
I know a friend who made a will there and I want to get a copy of her will.

Is there any office over there that a member of the public can walk into and ask for a copy of a person's will?

Any help much appreciated
Thanks

Peregrinus

Triona00 wrote: »

Hi,

Just wondering has anybody any idea how to locate a will in London.
I know a friend who made a will there and I want to get a copy of her will.

Is there any office over there that a member of the public can walk into and ask for a copy of a person's will?

Any help much appreciated
Thanks

Has your friend died?

Claw Hammer

Triona00 wrote: »

Hi,

Just wondering has anybody any idea how to locate a will in London.
I know a friend who made a will there and I want to get a copy of her will.

Is there any office over there that a member of the public can walk into and ask for a copy of a person's will?

Any help much appreciated
Thanks

That are numerous offices in London that a member of the public can walk into and ask for a copy of a persons will.