Yes.Power of Attorney a completely separate role to an executor
PoA is for when you are alive, Executor is after you have passed. Persoanally, and I'm speaking of where we put a PoA in place for my Mam a few years back, she named both of us for that and that was our idea, so there was always going to be transperancy. (We did trust each other but so many stories)HI
We need to update our will as our children are no longer minors. In fact, we should have updated it before as they are now 23 and 29.
Everything will be left equally between them.
Should we name one or both of them as executors or should we name a trusted nephew to be executor? You hear of so many fallings out over wills that I'm wondering if an independent executor would be better? Is Power of Attorney a completely separate role to an executor? I'm assuming it is. Should we name one of our children as Power of Attorney or can/should they both do it?
I understand from asking here before that we can go to a solicitor, draw up the will, pay for the service and then take the will with us. We do not need to leave it with the solicitor. Is this still the case?
Thank you.
If they want it, they can take it! Otherwise your home ends up as a storage facility.clearing stuff out though, check with the kids first,
A word of caution on anything that has personal information on it; don't chuck it in the recycling, make sure its securely destroyed.documents...statements
Scan a copy also; and dont forget your digital legacy. Email, social media, laptop, phone etc.original will in our possession. I'll let the executors know where to find it. Along with our house deeds
Everyone should read Swedish Death Cleaning. A fantastic book. You do not mention what sex your children are? While leaving everything equally is important to you jewellery can often be the cause of disagreements. My will states that my daughter is to get my jewellery. This is just a family tradition. It is also important to keep a running total of bank accounts, number of shares (including splits etc) on a separate sheet of paper with your will. Also for digital transactions passwords too. The RNLI offer a free will service with participating solicitors in lieu of a donation.Thank you all for the replies.
We need to educate ourselves on Power of Attorney and Enduring Power of Attorney. But transparency is important to us as you do hear so many stories where families have fallen out over things like this.
We will name both as executors.
The will should be straight forward enough as the estate is to be divided between them both equally. I have a few bits and bobs that I would like to pass to nieces in particular and we have a godchild each that we will leave a couple of bob to. I think we might do this earlier so that is that out of the way and might be of use to them now.
I will also ask the kiddos if there is anything in particular they would like and either give it to them or make sure they are both aware of what is theirs.
With regard to the clearing out stuff, much to the dismay of my friends, I've been reading a book about the tradition of Swedish Death Cleaning which is literally cleaning out your life of excess stuff before you kick the bucket. Like you DannyboyD, I too have cleared out a couple of houses and it is hard to throw out items that obviously meant so much to others but nothing to those left behind. I've started this process but have trouble thowing out information, ie, documents, photos, statements, magazines etc. Its just a thing of mine that I need to get my head around.
With regard to taking the will from the Solicitors, is that the norm or do people leave it with them?
Big problem with us here. We have rooms full of sentimental stuff belonging to our children and grand children.but have trouble thowing out information, ie, documents, photos, statements, magazines etc. Its just a thing of mine that I need to get my head around.
Absolutely crazy to treat such a crucial matter as a will as akin to a charity shop purchase.The RNLI offer a free will service with participating solicitors in lieu of a donation.
Solicitors write the wills. RNLI receive the donation. All wills should be updated on a regular basis. A lot can happen in 15 to 20 years.Absolutely crazy to treat such a crucial matter as a will as akin to a charity shop purchase.
I know of a family where the parents paid £50 to get a will done and 15/20 years later the kids had to stump up €60,000 to the same solicitor to get it processed, on foot of a temporary spike in property values and a few other minor complications which collectively meant it was difficult for them to switch to another solicitor.
We know that.Solicitors write the wills. RNLI receive the donation. All wills should be updated on a regular basis. A lot can happen in 15 to 20 years.
At the risk of going off topic who is ‘We’? How would you suggest doing due diligence of a solicitor vis a vis a solicitor offering his services for a charity he supports?We know that.
My point is that an individual or couple making a will should exercise extreme care in selecting a solicitor to assist them in doing so. Participation in a marketing scheme to benefit a charity is I'd argue incompatible with that.
Of course wills should be updated regularly, but in the real world this often does not happen. And the updating of a will of itself affords scant protection against a rogue solicitor if the person making it hasn't done due diligence on them.
I'd suggest that when it comes to making wills, people should ignore marketing gimmicks, and instead deal with the most reliable and trustworthy solicitor they can find. If they want to support the lifeboats or the dogs and cats home, do so separately.How would you suggest doing due diligence of a solicitor vis a vis a solicitor offering his services for a charity he supports?
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