Anybody drafted their own will? Job best left to a Solicitor? Bearing in mind this is in NI.
I was drafting up the info that I was looking included on a will and after looking at a few online templates & getting it half presentable on a word document I think I'm 2 witness signatures away from having the job done tbh.
ChatGPT is bound to able to sort you out!
Made for things like this surely.
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Interesting - https://www.citizensadvice.org.uk/family/death-and-wills/wills/
I went to a solicitor. Better to be safe than sorry.
When my Dad was on his deathbed I asked him if he wanted buried or cremated. He replied "surprise me".
When Voltaire was on his deathbed, a clergyman asked him to renouce Satan. Voltaire replied "Now is not the time to be making enemies".
Quote from: Orior on July 11, 2023, 06:29:55 PM
I went to a solicitor. Better to be safe than sorry.
When my Dad was on his deathbed I asked him if he wanted buried or cremated. He replied "surprise me".
When Voltaire was on his deathbed, a clergyman asked him to renouce Satan. Voltaire replied "Now is not the time to be makimg enemies".
;D (on both!)
Quote from: bennydorano on July 11, 2023, 05:30:33 PM
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Think you're grand. Have you taken tax advice? Have your beneficiaries? Give it all away in advance, or the nursing home will take it off you ;)
Quote from: Rois on July 11, 2023, 08:53:59 PM
Quote from: bennydorano on July 11, 2023, 05:30:33 PM
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Think you're grand. Have you taken tax advice? Have your beneficiaries? Give it all away in advance, or the nursing home will take it off you ;)
The nursing home possibility has been discussed but is for another day at this stage. Is it 7 years your home has to be out of your possession before it isn't in danger of being taken to finance your nursing home stay?
Yep - gift with reservation has 7 year limit. Sounds like you have considered the right things.
Kids may need to charge you rent and declare on tax returns if you really want to stick by letter of the law. If one files a tax return, would do no harm to file a low rental income offset against expenses that often occur when running a house with tenants (i.e plenty)
Quote from: bennydorano on July 11, 2023, 09:03:59 PM
Quote from: Rois on July 11, 2023, 08:53:59 PM
Quote from: bennydorano on July 11, 2023, 05:30:33 PM
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Think you're grand. Have you taken tax advice? Have your beneficiaries? Give it all away in advance, or the nursing home will take it off you ;)
The nursing home possibility has been discussed but is for another day at this stage. Is it 7 years your home has to be out of your possession before it isn't in danger of being taken to finance your nursing home stay?
Yes 7 years and think it goes down to 25 grands worth of what's left big the house...
That being said, if you have a pension or two (state, private) that could cover a fair degree of your nursing home, friends of mine Airbnb the parents house which more that covers the payments.
Quote from: Milltown Row2 on July 11, 2023, 09:19:50 PM
Quote from: bennydorano on July 11, 2023, 09:03:59 PM
Quote from: Rois on July 11, 2023, 08:53:59 PM
Quote from: bennydorano on July 11, 2023, 05:30:33 PM
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Think you're grand. Have you taken tax advice? Have your beneficiaries? Give it all away in advance, or the nursing home will take it off you ;)
The nursing home possibility has been discussed but is for another day at this stage. Is it 7 years your home has to be out of your possession before it isn't in danger of being taken to finance your nursing home stay?
Yes 7 years and think it goes down to 25 grands worth of what's left big the house...
That being said, if you have a pension or two (state, private) that could cover a fair degree of your nursing home, friends of mine Airbnb the parents house which more that covers the payments.
Great idea if both are out of the house. Bit more thinking required if one still lives there.
Quote from: Rois on July 11, 2023, 09:24:48 PM
Quote from: Milltown Row2 on July 11, 2023, 09:19:50 PM
Quote from: bennydorano on July 11, 2023, 09:03:59 PM
Quote from: Rois on July 11, 2023, 08:53:59 PM
Quote from: bennydorano on July 11, 2023, 05:30:33 PM
I think I have it near sorted tbh, probably just wary of pitfalls or mistakes the lay person would make.
Think you're grand. Have you taken tax advice? Have your beneficiaries? Give it all away in advance, or the nursing home will take it off you ;)
The nursing home possibility has been discussed but is for another day at this stage. Is it 7 years your home has to be out of your possession before it isn't in danger of being taken to finance your nursing home stay?
Yes 7 years and think it goes down to 25 grands worth of what's left big the house...
That being said, if you have a pension or two (state, private) that could cover a fair degree of your nursing home, friends of mine Airbnb the parents house which more that covers the payments.
Great idea if both are out of the house. Bit more thinking required if one still lives there.
In this particular scenario, only one left, shes in nursing home now. In the main usually nursing homes would be after one of the parents passes away and looking after them at their home is difficult, logistics wise.
Personally I'm looking to downsize, spend every penny while I'm fit and wise! and see where that takes me!! ;D
You're dead right! (literally).
You've set the kids up well to survive on their own. Spend spend spend! I wouldn't begrudge my parents spending what they have earned, assume (presume) most on here would be the same. Hope our kids feel the same.
Quote from: Rois on July 11, 2023, 09:38:48 PM
You're dead right! (literally).
You've set the kids up well to survive on their own. Spend spend spend! I wouldn't begrudge my parents spending what they have earned, assume (presume) most on here would be the same. Hope our kids feel the same.
My kids are well aware of how it will go lol!
But, as I've seen first hand, things can change so quickly with parents and illnesses and the demands plus responsibilities/restrictions it can have on what seems like a life!
Do enjoy it while you can