Property in my name and just got married

[frazzle22]

Hi I wonder if anyone can advise me, I have a property with around 80% equity in my name and I have just got married. I want to ensure my children get the money from the house when either of us die. Mainly because I have paid into the mortgage for 40 years. My husband has always been aware of this and happy to sign anything etc. Obviously if I die first I want him to live in the house. Does anyone know what my options are, I am aware i need a will and will be booking an appt with a solicitor. Thanks in advance for any help.

[Pezza54]

Please read the article "A guide to property trust wills" at flintbishop.co.uk

Do you own the property as tenants in common with your husband (80/20 split)?

You need the solicitor to draft your will asap, to prevent your share of the property passing to him, should you unexpectedly pass away

You should consider the options of right to reside and life interest. These options are explained in detail in the article and examples provided

[frazzle22]

Hi No it is in my sole name, an appointment is booked. Thank you

[PallasAthena]

What you want to achieve can be written into your Will so you are doing the right thing by seeing a solicitor to draft it. It's a common arrangement.

One thing to have discussed with your husband before you see the solicitor is whether letting him live in the house if you die first will be time-limited (eg for 12 months or 2 years only) or whether he can live there for the rest of his life. While he lives there your children will not, in practice, be able to sell the house and get the money you would like them to have.

[frazzle22]

What you want to achieve can be written into your Will so you are doing the right thing by seeing a solicitor to draft it. It's a common arrangement.

One thing to have discussed with your husband before you see the solicitor is whether letting him live in the house if you die first will be time-limited (eg for 12 months or 2 years only) or whether he can live there for the rest of his life. While he lives there your children will not, in practice, be able to sell the house and get the money you would like them to have.

Thank you, yes we have spoken and I would want him to live in the house. I was sure a solicitor would go through it all but she was evasive on the phone booking the appointment. Probably as time is money. Thanks alot.

[atticus]

The solicitor may have come across as evasive because she wants to get full information from you in your meeting with her so as to give best advice.