House in wife’s name

[Quovadisuk]

We have been married for several years. The house was always in my wife’s name in full as I was running several businesses and wanted to protect the asset should anything go wrong. ( Fortunately it didn’t ) We are both now retired, and started to look at a new will. Do we really need to go through land registry to change to joint ownership, as if we are married, and prepare mirror wills leaving everything to the surviving partner doesn’t this mean the asset is automatically left to them.( being married) or have I drastically simplified the event, and overlooked crucial considerations in not sharing the ownership ?

[dslippy]

When a property is owned jointly, it means that both owners have equal rights to the property. If one of the owners passes away, their share of the property automatically passes to the surviving owner. However, if the property is not owned jointly, the surviving owner may not automatically inherit the property and it may have to go through probate, which can be time-consuming and expensive.

While being married does provide some legal protections, such as inheritance tax exemptions and automatic rights of survivorship, it is still important to update your wills to ensure that your wishes are carried out. For example, if you both pass away simultaneously, or if you want to leave your property to someone else, having a will can help ensure that your wishes are carried out.

As for whether you need to go through the land registry to change the ownership of the property to joint ownership, this is something you should discuss with a solicitor. There may be costs associated with changing the ownership, and a solicitor can advise you on the best course of action based on your individual circumstances.

[Quovadisuk]

Thank you for your reply and guidance, it is appreciated kind regards