In my Will, as the surviving parent, I wish---if possible---the following to take place:
W1--- to leave my house to be lived in by any or all of my children if they so wish (and at least one may wish to do so, and indeed does so part time at present, and is registered locally with the council and for voting purposes; a second may also wish to settle into the house; the third is unlikely to),
W2--- with no requirement that a third of the house value is to be paid by each who lives in the house to those who don't, but
W3--- if at any time, either then or in the future, they all agree to sell the house, then the proceeds of the sale to be divided equally among all of my children.
Q1--- Is it sufficient to write a statement something like that in the Will?
Q2--- Or can I only go so far as to leave the house to all of the children collectively, and what then takes place is not something that can be specified in a Will, but is a matter for them alone?
Q3--- Or is some sort of Trust required if I wish W1, W2, W3 to be enacted? If so, what sort of Trust? And is there a website where more can be read about that type of Trust?
W1--- to leave my house to be lived in by any or all of my children if they so wish (and at least one may wish to do so, and indeed does so part time at present, and is registered locally with the council and for voting purposes; a second may also wish to settle into the house; the third is unlikely to),
W2--- with no requirement that a third of the house value is to be paid by each who lives in the house to those who don't, but
W3--- if at any time, either then or in the future, they all agree to sell the house, then the proceeds of the sale to be divided equally among all of my children.
Q1--- Is it sufficient to write a statement something like that in the Will?
Q2--- Or can I only go so far as to leave the house to all of the children collectively, and what then takes place is not something that can be specified in a Will, but is a matter for them alone?
Q3--- Or is some sort of Trust required if I wish W1, W2, W3 to be enacted? If so, what sort of Trust? And is there a website where more can be read about that type of Trust?
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