Things Noticeable this week - Page 3550

**otokonomidori** · October 19th, 2018, 05:50 PM

Quote:

Originally Posted by Greenman

My parents spent two hours with a solicitor working out a new will and who would be the beneficiaries and legal executors.

Let's hope they weren't cutting you off without a penny !

I got a hundred quid when my old man clocked out in 1977, spent half of it on drugs and squandered the rest.

**vinceprince** · October 19th, 2018, 07:14 PM

£3000-£12000 for a Will?

What a waste of money, it's really not that difficult to do it for nothing (unless you're a multi-millionaire trying to avoid tax with complicated trusts)

I did legal exams and most Will writing is just money (and lots) for old rope just getting one of the standard formats out of the file, filling in the gaps and getting them to sign it. It was a long time ago but this is one area of the law that has never really changed.

You could buy a simple 'Will kit' from WHSmiths, now you don't even have to do that now just go onto the net and print one out for free. Not sure why anyone uses lawyers now, as for most stuff the information and advice is on the net for free.... like porn.

**tsunamiSD** · October 19th, 2018, 08:18 PM

There are also places like Legal Zoom: Law Free Advice on Legal Zoom for Will Preparation

**Greenman** · October 19th, 2018, 08:44 PM

All contigencies have been looked into and provisions made but I cannot see both parents going, but if one goes, the other becomes the beneficiary of the house. In any event I get to keep a roof over my head in the future. Running the household is another matter and that will need looking into in the event of my father's death.

Inheritance tax a bastard because it clobbers those people who end up having to pay HMRC their pound of flesh and can almost leave you bankrupt. My grandfather left a huge tax bill that almost left my Mum and Dad literally with pennies in the bank-I had to help them out as well. Thankfully we paid it off and got the money back plus the inheritance for my Mum. His flat was sold off as were the contents and there was a lot of nice stuff there that went for a lot less than it was worth-absolute nightmare that was. Thank god it was drummed into me at an early age to SAVE not SPEND. If I wanted anything I would save the majority of the money and my parents would make up the rest.

**otokonomidori** · October 20th, 2018, 02:09 AM

Quote:

Originally Posted by Greenman

Inheritance tax a bastard because it clobbers those people who end up having to pay HMRC their pound of flesh

Robbing bastards HMRC - I should transfer the ownership of my house to my sons but what if they fling me out in the street?!?!?

**vinceprince** · October 20th, 2018, 08:41 AM

Quote:

Originally Posted by Greenman

Inheritance tax a bastard because it clobbers those people who end up having to pay HMRC their pound of flesh and can almost leave you bankrupt. My grandfather left a huge tax bill that almost left my Mum and Dad literally with pennies in the bank-I had to help them out as well. Thankfully we paid it off and got the money back plus the inheritance for my Mum. His flat was sold off as were the contents and there was a lot of nice stuff there that went for a lot less than it was worth-absolute nightmare that was. Thank god it was drummed into me at an early age to SAVE not SPEND. If I wanted anything I would save the majority of the money and my parents would make up the rest.

You don't pay any inheritance tax on the first £325,000 and then only 40% on the amount above, so how did it leave them 'penniless'?

Or did it all go on your Dodgy lawyers?

Saving (in cash anyway) is overrated, poxy 1% interest and makes you ineligible for welfare benefits if you lose your income.

**bloke57** · October 20th, 2018, 09:33 AM

Quote:

Originally Posted by otokonomidori

Robbing bastards HMRC - I should transfer the ownership of my house to my sons but what if they fling me out in the street?!?!?

I know Scottish law differs from English - but could you transfer into joint names?

If you were joint tenants or tenants in common, your estate would only be liable for tax on your proportion of the ownership - which might be below the threshold. Just an idea.

On the subject of wills, I got mine done by a local solicitor for £125. I can only assume that Greenman and his parents have a complicated and substantial financial situation to deal with.

**charliels531** · October 20th, 2018, 01:02 PM

Quote:

Originally Posted by Greenman

My parents spent two hours with a solicitor working out a new will and who would be the beneficiaries and legal executors. He was telling us that one law firm in the City charged £12,000 for doing a will but the cost to my parents, when every other charge was added was around £3,000.

Holy Horsefeathers! I spent 40 years practicing law in the wrong country! The most I ever charged for a will/trust was $250. That one involved $100 million.

**Greenman** · October 20th, 2018, 02:27 PM

Quote:

Originally Posted by bloke57

I know Scottish law differs from English - but could you transfer into joint names?

If you were joint tenants or tenants in common, your estate would only be liable for tax on your proportion of the ownership - which might be below the threshold. Just an idea.

On the subject of wills, I got mine done by a local solicitor for £125. I can only assume that Greenman and his parents have a complicated and substantial financial situation to deal with.

I don't know the full ins and outs but my grandfathers situation was such that a hefty tax bill needed paying and it did leave us nearly penniless bank savings wise, we weren't in danger of being made poor but it felt like it. s I say I wasn't told all the details but my grandfather was fairly well off, but built up a lot of problems tax wise and it all got hauled onto us as a family. Luckily we did get the money back with interest and it made us considerably better off than we were in years. It was scary though.

**Devius** · October 20th, 2018, 02:35 PM

A fireworks display is to be postponed so as not to disturb a beluga whale that has become known as 'Benny'.

The whale was first spotted in the River Thames off Gravesend, in Kent, on 25 September, with a number of sightings since, including this week.

The fireworks were due to be set off from a barge in the Thames at the Riverside Leisure Area on 2 November.

Gravesham Borough Council said "the need to keep Benny safe while he visits us in Gravesend must take priority".

So far, the whale has remained in the Kent stretch of the river where he is feeding near barges.

Council leader David Turner said the decision had been taken following advice from the Port of London Authority

Full story:
https://www.bbc.co.uk/news/uk-england-kent-45919635

October 19th, 2018, 08:18 PM	#35493
tsunamiSD Veteran Member Join Date: Jan 2010 Posts: 53,099 Thanks: 634,225 Thanked 641,206 Times in 53,182 Posts	Another less expensive way There are also places like Legal Zoom: Law Free Advice on Legal Zoom for Will Preparation __________________ Fortitudo, Fidelitas, Decus I can re-up all my celeb posts, most of my funny posts, and many of my misc funny posts.

October 19th, 2018, 08:44 PM	#35494
Greenman Live Legend of VEF Join Date: Feb 2007 Location: Underground lair somewhere in the world Posts: 20,353 Thanks: 30,936 Thanked 383,589 Times in 19,356 Posts	All contigencies have been looked into and provisions made but I cannot see both parents going, but if one goes, the other becomes the beneficiary of the house. In any event I get to keep a roof over my head in the future. Running the household is another matter and that will need looking into in the event of my father's death. Inheritance tax a bastard because it clobbers those people who end up having to pay HMRC their pound of flesh and can almost leave you bankrupt. My grandfather left a huge tax bill that almost left my Mum and Dad literally with pennies in the bank-I had to help them out as well. Thankfully we paid it off and got the money back plus the inheritance for my Mum. His flat was sold off as were the contents and there was a lot of nice stuff there that went for a lot less than it was worth-absolute nightmare that was. Thank god it was drummed into me at an early age to SAVE not SPEND. If I wanted anything I would save the majority of the money and my parents would make up the rest. __________________ There was only ONE Greenman, and you accepted no substitutes! To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. Rest in peace MaxJoker-you will be sorely missed. To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts. 20,000: Milestone reached!

October 20th, 2018, 02:35 PM	#35500
Devius Veteran Member Join Date: Jun 2007 Location: It's a London Thing.... Posts: 23,591 Thanks: 142,465 Thanked 228,857 Times in 23,626 Posts	Remember Benny the beluga whale? A fireworks display is to be postponed so as not to disturb a beluga whale that has become known as 'Benny'. The whale was first spotted in the River Thames off Gravesend, in Kent, on 25 September, with a number of sightings since, including this week. The fireworks were due to be set off from a barge in the Thames at the Riverside Leisure Area on 2 November. Gravesham Borough Council said "the need to keep Benny safe while he visits us in Gravesend must take priority". So far, the whale has remained in the Kent stretch of the river where he is feeding near barges. Council leader David Turner said the decision had been taken following advice from the Port of London Authority Full story: https://www.bbc.co.uk/news/uk-england-kent-45919635 __________________ "I've had it with them, I've had it with you, I've had it with ALL THIS - I WANT ROOM SERVICE!* I want the club sandwich, I want the cold Mexican beer, I want a $10,000-a-night hooker!"* Johnny Mnemonic (1995)

October 19th, 2018, 07:14 PM	#35492
vinceprince 13th Duke of Wybourne Join Date: Mar 2010 Location: Me, Here? In a sixth-form girl's dormitory? At 3 in the morning? With my reputation? Posts: 2,089 Thanks: 8,082 Thanked 21,965 Times in 2,076 Posts	£3000-£12000 for a Will? What a waste of money, it's really not that difficult to do it for nothing (unless you're a multi-millionaire trying to avoid tax with complicated trusts) I did legal exams and most Will writing is just money (and lots) for old rope just getting one of the standard formats out of the file, filling in the gaps and getting them to sign it. It was a long time ago but this is one area of the law that has never really changed. You could buy a simple 'Will kit' from WHSmiths, now you don't even have to do that now just go onto the net and print one out for free. Not sure why anyone uses lawyers now, as for most stuff the information and advice is on the net for free.... like porn.