Writing a will but cannot decide on to whom to leave the final estate to?

[Quovadisuk]

Really have been given this some thought recently but cannot resolve the decision as to what to do with the estate when both of us pass over . At the moment we will undertake mirror wills and this is the easy part, but should the surviving partner pass then we need to decide what to do with the estate which is causing us some concern.
We have no reliable family members who we would want to leave the estate too, so this it where it becomes a little difficult for us … we looked at some charities but note that much of the monies received go into admin fees which we don’t think is morally correct. We have had dealings with other charities that we haven’t been over impressed with either, so we are running out of ideas as to what would be agreeable to both of us. I have posted this with the view that members of the forum may come up with other options or plans that we haven’t thought of, certainly we don’t want it going to the state, based on its current performance.

Could I ask for any suggestions or ideas on this issue please as I am sure we cannot be the only ones facing this predicament

Thank you for reading the posting.

[echat11]

O.K. you clearly have interests, i.e. gardening, sports, literature, nursing, cooking etc. Why not set up a Student Bursary Fund that helps to pay for technology (laptops, tablets etc) for promising students who don't come from wealthy backgrounds. Structured the right way, this could go on for generations.

[twohoots]

You don’t say whether you own a house but here’s an idea. Obviously I don’t know where you live but there are a few villages around here which have their own housing societies. Over many years they have been bequeathed properties which they then do up if necessary and rent at reasonable rates to local people who could otherwise not afford to buy. Some people also leave sums of money to them and every penny goes into maintaining these properties and there are no paid staff.

My friend is in a similar situation as she has no siblings, no children and just her partner. He has 2 adult nieces who I think he will probably leave everything to but she is not very happy about that as they seldom see them. She is about 10 years older than him so expects to go first and she is leaving all her share to him.

[Quovadisuk]

O.K. you clearly have interests, i.e. gardening, sports, literature, nursing, cooking etc. Why not set up a Student Bursary Fund that helps to pay for technology (laptops, tablets etc) for promising students who don't come from wealthy backgrounds. Structured the right way, this could go on for generations.

Thank you for your reply ...that does seem a good option ... Could you suggest a suitable structure that could work with this idea ? kind regards

[echat11]

Make enquirers with you local educational establishment, schools, universities etc. They no doubt have existing bursaries / scholarships ask them if it's possible to establish such a bursaries / scholarships.

[Quovadisuk]

Thanks again for the reply … the problem I am seeing is that either I am being asked to pay money upfront for a framework OR, I am seeing administration or management fees being excessive ( up to 60% in some instances to manage it ) … which seems to defeat the objective through my eyes, so this still remains and issue for me / us We do own our own properties . .. Hadn’t realised this was going to be so difficult … really wanted to see something that keeps going for some time not eaten up by admin … will have to go back to the drawing board and have another rethink .. Regards