Wills
Author
Discussion

Ironduke12

Original Poster:

57 posts

156 months

Thursday 2nd February 2023
quotequote all
Basic question hope you can advise, as you can see I know very little but I would like to have an understanding before I start approaching providers.

Wills

I have no will but I think its time I start preparing one, age 41.

One child no partner, no plans for any of those to change. However I want to leave all any estate to my daughter for when I'm not here (prematurely or long term). As she is just an early teen, I cant leave a house and savings/pension to her and guess it has to be put in trust until she turns 18? Slightly less complicated as there is no mortgage on the house so no bank interest.

But as I pay a private maintenance agreement to her mum, she would need a sum of money which my separate life insurance would cover to keep her until she is an adult.

I assume that I can change a will once created for when my daughter turns 18 and I can remove her mum as a beneficiary?

Sorry for the n00b questions


Halitosis

207 posts

81 months

Thursday 2nd February 2023
quotequote all
You should be able to have a will written that makes provisions depending on your daughter's age at your time of death - so no need to get it rewritten. Words to the effect that if under 18 then a trust and maintenance, but if over 18 then a straight inheritance.
A solicitor or will writing service will be very used to doing such an arrangement and would likely cost a couple of hundred pounds. If you'd like a free will written and have a favourite charity then they may offer a free will-writing service in return for you bequeathing them a small percentage of your estate.