Writing a Will, setting out in percentages?

[JohnJay]

Its that morbid time of life again when I need to update my will.
I'm thinking about setting it out in percentages, so for example 3% to nephew/neice 1, 2 and 3, 6% to Sister 1,2 and 3. The remainder to be split between brothers X and Y. Anything wrong with doing this? My thinking on this is that the majority of my assets are property. The value of this will go up and down as the years go by. At least if its set as a %, everyone gets their share.

I'm not planning on dying anytime soon btw!

 

[NoRegretsCoyote]

That implies everything will have to be sold. Is this what you want?

Otherwise you could leave specific properties to specific people. It doesn't mean equal treatment but your beneficiaries may want to hold on to something.

 

[JohnJay]

I should have phrased that, "my main asset is my PPR". Ive no problem with it being sold. Otherwise only one person would get my house (and the tax liability) and very little to everybody else.

 

[Bronte]

I'd make the percentages more rounded. Work in fives. So 5% to nieces and nephews. And don't be treating your sisters differently to your brothers. Make them all the same surely. You're only going to be upsetting somebody unless you've a very valid reason for doing it differently.

 

[Bronte]

That implies everything will have to be sold. Is this what you want?

That's generally the best thing unless we're talking farmhouse or ancestral home. How many times on here have we posters left with an ordinary family home and all fighting because one of them doesn't want to sell the house.

 

[NoRegretsCoyote]

That's generally the best thing unless we're talking farmhouse or ancestral home. How many times on here have we posters left with an ordinary family home and all fighting because one of them doesn't want to sell the house.

I agree.

The OP had said that "the majority of my assets are property" leading me to think there was a big portfolio. Subsequently clarified.