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Question about leaving house to children

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  • Question about leaving house to children

    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?
    Tags: None

  • #2
    The answer is in Q3. Above all, I recommend getting professional advice on the drafting, so as to avoid a dog's dinner capable of several different interpretations.
    Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

    Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf

    Comment


    • #3
      Thank you. But, as with all things in which I need to get involved with a professional, I like to read as much as I can beforehand around the topic so to have a better understanding of what is in discussion. Without such background reading, I can be very lost in an unfamiliar area, no matter how clearly the professional tries to make the topic. In this case I've already been to the government website and sites of solicitors where Trusts are discussed, and have so far found no type of Trust that seems as all appropriate, hence the two questions at the end of Q3.

      Comment


      • #4
        While this is not really my area, I have generally been less interested in what things are called than in what they actually do.

        You might try putting a phrase such as "will trusts for children" into your preferred internet search engine.
        Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

        Litigants in Person should download and read the Judiciary's handbook for litigants in person: https://www.judiciary.uk/wp-content/..._in_Person.pdf

        Comment

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