We are about to start the process of updating our wills, my husband and I each have a will that mirrors the other.
Our children are no longer minors and our chosen executors in our current will, would prefer to no longer be executors due to their age.
We would like to keep the wills simple leaving everything we own split equally between our two children.
We believe it is beneficial from a tax perspective to state that the home be sold on the last of our deaths and the children will have the opportunity for either one of them to then buy the property if they do wish at the time.
My husband also has an arf and my understanding from reading aam threads is that this should be specifically mentioned in the will. Is this correct?
Can we name our two children as executors? Is this a sensible decision?
We will be going via a solicitor. They have sent us our prep forms prior to meeting with us and the above questions have come when my husband chat.
Thanks for your help.
Our children are no longer minors and our chosen executors in our current will, would prefer to no longer be executors due to their age.
We would like to keep the wills simple leaving everything we own split equally between our two children.
We believe it is beneficial from a tax perspective to state that the home be sold on the last of our deaths and the children will have the opportunity for either one of them to then buy the property if they do wish at the time.
My husband also has an arf and my understanding from reading aam threads is that this should be specifically mentioned in the will. Is this correct?
Can we name our two children as executors? Is this a sensible decision?
We will be going via a solicitor. They have sent us our prep forms prior to meeting with us and the above questions have come when my husband chat.
Thanks for your help.
