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Joshua
Joshua, Lawyer
Category: Property Law
Satisfied Customers: 31702
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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Have a question regarding wills/a question i've been asked

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have a question regarding wills/a question i've been asked by someone who wants to name me as one of their benefactors.My godmother has very kindly informed me that she is going to name me as her primary beneficiary in her will. She does have 2 other god children who she's also keen to leave something to as well and also various charities. Her question to me was whether I would prefer that she name a sum to leave to me, that might come from savings, or for her to leave me her house ....Neither of us know much about this area so I'm not sure what to say (other than a big thank you of course!!)My instinct would be the house - its not in a great state and has insurance issues ongoing due to a cracked wall and tree, but it is a 3 bedroomed terraced house in Islington in London. However while she ideally wants to stay there until her death, she may change her mind as she gets older (lots of narrow stairs) and want to downsize or move into supported accommodation, or simply be forced by social services to move in to care one day and thereby forced to sell her property to pay for her care? So there may be no property to inherit anyway...My instinct is to suggest to her that when she's drawing up her will with her chosen lawyer she instead decide on percentages of any remaining funds. So what percent she'd like to allocate to who once any outstanding debt or tax has been settled from her estate (she has also asked if i would be co-executor of her will along with the solicitor). As she cant at this time presumably have any knowledge of whether she will still own a house (or indeed have any remaining savings) by the time she dies...Is that the best advice? In terms of simplest way of her dividing her assets?Also is it the most tax efficient way of proceeding from my end as a benefactor?I have a second question about what is involved with being the executor. She has no children so I'd like to say yes, but want to be clear about what it involves, and also whether I might become liable for any outstanding debt etc she may owe on her death

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

from what you say, do I understand correctly that she has asked you to be her executor as well as a beneficiary please?

Joshua and other Property Law Specialists are ready to help you
Customer: replied 12 days ago.

thank you. Is it convenient if I arrange to call you in the next few minutes or is another time better for you please?

I will try to reach you now...