I think she’ll remember, we’ve known each other for nearly 24 years so far. Unless she gets dementia.
If she does reject it, what happens to the money? Does it go back into the estate and go to the beneficiaries?
(Need answer fast) I'm writing a will soon, what info do I need to leave money to a friend in the UK
It would be pretty much like you did not list them at all. Their assets would end being included in your total asset pool that gets distributed with your estate.
I just remembered something about FB messages. If you send someone a message and you’re not friends with them, the message goes into some other folder and the person doesn’t get notified of the message. I think they can still see it if they open the main Messenger window, but they won’t automatically know they got a message. That’s how it works today. Who knows how it will work decades later. Your executor should probably try all methods of contact to be sure.
And speaking of executors, there’s no guarantee the people you pick will outlast you. It may end up being a relative or someone else who steps in if your chosen executors are not able to fulfill their duty. So instructions should be something that any random person could follow rather than something only those specific executors would know.
Even if you’ve never had a lawyer, use one to do your wills.
They’ll ask questions you’d never have thought of, and clue you into ways to minimize the taxes of anyone you’re leaving $$$ (or £££) to.
That at least is quite simple for the UK: the recipient of a bequest doesn’t pay tax on it.
In the US, don’t taxes only kick in when you leave 11 million in your estate?