Wills

Question 1

For a Will to be valid it must be

Answer 1

Must be over 18 and sound mind

Made voluntarily

In writing

Signed and dated by the testator

Witnessed by two persons who do not benefit from the Will including witnesses spouses

Question 2

Married with children

Answer 2

Spouse gets deceased’s personal possessions plus £270,000 absolutely. Note that the spouse must survive 28 days after their spouse’s death to get this right.
Remainder is split 50/50
50% goes to children absolutely if over 18. If under 18 it is held in trust until they become 18.
50% goes to spouse absolutely

Question 3

Married no children

Answer 3

Spouse gets all property. 28 day rule apply.

Question 4

No spouse but children

Answer 4

Everything to children

Question 5

No spouse no children

Answer 5

The first in line to inherit would be the deceased’s parents. If neither parent is alive it is shared between any brothers and sisters. If these had died, then their share would pass to their children and they are deemed to “stand in the shoes of their parents.”

Question 6

Why make a Will

Answer 6

• Instructs who benefit from your sestate
• you appoint executors that you trust
• can leave burial instructions
• can help reduce IHT on estate
• can appoint guardians for minor children
• essential for couples in unmarried relationship

Question 7

Mirror will

Answer 7

Leaving everything to eachother
May work if both die within short time of eachother
Surviving partner can draw up a new Will

Question 8

Mutual will

Answer 8

First death the Will binds the survivor and the beneficiaries cannot be changed

Question 9

Spouse 28 day rule

Answer 9

Survivorship period imposed for a spouse in which they cannot inherit

If spouse dies within 28 days, they are treated as having not survived the deceased

Next class of beneficiary becomes entitled

Question 10

Revoking a will

Answer 10

Can destroy it or make a new will revoking all previous

Voluntarily

Testator must have mental capacity

Must have the intention to revoke

They must effect the revocation by a document/an informal declaration or destruction

Marriage/civil partnership revokes a previous will, unless the will states that it was made in anticipation of marriage.

Appointing a spouse as executor is cancelled by subsequent divorce

Divorce cancels benefit under a will to a former spouse, unless the wording states otherwise - rest of will is not invalidated

Registered civil partners are treated as spouses

Advisable to make a new will on marriage or divorce

Question 11

Making changes to ensure estate is distributed as you wish with a Will

Answer 11

Write a new Will / codicil