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  • FIRST POST
    • Chief01
    • By Chief01 9th Oct 17, 8:12 AM
    • 2Posts
    • 1Thanks
    Chief01
    Protecting children's inheritance
    • #1
    • 9th Oct 17, 8:12 AM
    Protecting children's inheritance 9th Oct 17 at 8:12 AM
    I need some advice on what I need to put in place when buying my new house. My partner moved into my house with me and my 2 children (15 and 16 years old) 2 years ago. We are getting married next year. I have a small mortgage and have a large value to loan in my house. I'm currently looking at buying/moving into another house using the proceeds of this house to purchase it. He currently contributes to bills and will continue to do so when we move. I am re-mortgaging to ensure that all money spent on refurbishing/decorating the new house is paid my me. I would like my children to be the sole beneficiaries of my house and would like to know what legalities I need to put in place to protect the equity I have built up (my partner is fully aware of my intentions). Any advice would be gratefully received, thank you in advance
    Last edited by Chief01; 14-10-2017 at 12:12 PM.
Page 1
    • lika_86
    • By lika_86 9th Oct 17, 8:37 AM
    • 1,155 Posts
    • 4,170 Thanks
    lika_86
    • #2
    • 9th Oct 17, 8:37 AM
    • #2
    • 9th Oct 17, 8:37 AM
    Don't get married if you want to protect the equity in your house should you get divorced and don't accept 'rent', take extra bill money only.
    • PeacefulWaters
    • By PeacefulWaters 9th Oct 17, 8:49 AM
    • 6,970 Posts
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    PeacefulWaters
    • #3
    • 9th Oct 17, 8:49 AM
    • #3
    • 9th Oct 17, 8:49 AM
    The simple answer is to see a solicitor.

    And ask how you protect your wishes in the case of future divorce.
    • Mojisola
    • By Mojisola 9th Oct 17, 8:55 AM
    • 28,336 Posts
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    Mojisola
    • #4
    • 9th Oct 17, 8:55 AM
    • #4
    • 9th Oct 17, 8:55 AM
    My partner moved into my house with me and my 2 children (15 and 16 years old) 2 years ago.

    We are getting married next year.

    I would like my children to be the sole beneficiaries of my house
    Originally posted by Chief01
    I think you'll struggle to arrange that if you get married.
    • trailingspouse
    • By trailingspouse 9th Oct 17, 9:12 AM
    • 2,255 Posts
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    trailingspouse
    • #5
    • 9th Oct 17, 9:12 AM
    • #5
    • 9th Oct 17, 9:12 AM
    Marriage implies 'we're in it together', which is fine while you're together but gets complicated when you divorce.

    As you currently have a high loan to value, there wouldn't be much (relatively) for your children to inherit at the moment anyway. If you bought a house together, you would likely be able to afford a bigger mortgage, which would benefit you as a couple in the long run.

    If you were to die before your husband, would you want him to be evicted from his home so that your children could inherit?
    What if you have more children?
    At the moment you don't have a husband so much as a lodger - is that what you want?
    • Mojisola
    • By Mojisola 9th Oct 17, 9:17 AM
    • 28,336 Posts
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    Mojisola
    • #6
    • 9th Oct 17, 9:17 AM
    • #6
    • 9th Oct 17, 9:17 AM
    Marriage implies 'we're in it together', which is fine while you're together but gets complicated when you divorce.
    Originally posted by trailingspouse
    It would also be complicated if the house-owning spouse died first.

    The spouse would have a legal claim on the estate even if they were left with nothing or very little in a will.
    • PeacefulWaters
    • By PeacefulWaters 9th Oct 17, 12:19 PM
    • 6,970 Posts
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    PeacefulWaters
    • #7
    • 9th Oct 17, 12:19 PM
    • #7
    • 9th Oct 17, 12:19 PM
    It would also be complicated if the house-owning spouse died first.

    The spouse would have a legal claim on the estate even if they were left with nothing or very little in a will.
    Originally posted by Mojisola
    Nothing a half decent solicitor and the words "lifetime interest" can't resolve.
    • ska lover
    • By ska lover 9th Oct 17, 1:07 PM
    • 2,479 Posts
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    ska lover
    • #8
    • 9th Oct 17, 1:07 PM
    • #8
    • 9th Oct 17, 1:07 PM
    Nothing a half decent solicitor and the words "lifetime interest" can't resolve.
    Originally posted by PeacefulWaters



    I think this is correct based on my own experiences and I believe it can be done. However no will is certain these days and people contest and win all the time - going against what the deceased actually wanted


    OP think would you give your spouse a lifetime interest in the property and then your kids inherit it at the time of his death?


    OR would you just want him out so your kids could inherit immediately? The home he has known not only has he lost his wife, but will be kicked out of his home? The home he has paid into? Whatever you want to call his payments, rent or whatever, he still is paying in to a home


    It all sounds like a clinical business arrangement rather than love to be honest with you


    I can understand your motives but you could literally end up leaving the person you claim to love, homeless and grieving all within a short period of time.
    Last edited by ska lover; 09-10-2017 at 1:10 PM.
    Blah blah blah.
    • onomatopoeia99
    • By onomatopoeia99 9th Oct 17, 6:01 PM
    • 3,428 Posts
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    onomatopoeia99
    • #9
    • 9th Oct 17, 6:01 PM
    • #9
    • 9th Oct 17, 6:01 PM
    It all sounds like a clinical business arrangement rather than love to be honest with you
    Originally posted by ska lover
    New relationships after a divorce where one has children make things complicated, don't they?

    Do we fault the OP for having concern for their children's future financial wellbeing, or for not having concern for their new partner? One can paint them as the villain either way, if one is minded to do so.
    INTP, nerd, libertarian and scifi geek.
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    • NeilCr
    • By NeilCr 9th Oct 17, 7:35 PM
    • 1,021 Posts
    • 1,100 Thanks
    NeilCr
    New relationships after a divorce where one has children make things complicated, don't they?

    Do we fault the OP for having concern for their children's future financial wellbeing, or for not having concern for their new partner? One can paint them as the villain either way, if one is minded to do so.
    Originally posted by onomatopoeia99
    Before I started going with my partner she said she would never marry me or move in with me. For the reasons stated in this thread re her children and inheritance. She’d been burned before and wanted to ensure there would be no hassle for her children in the event that she died before me.

    It suited me as I am happy on my own and I have no desire to get married again. But I entirely understood (and still understand) her reasoning. I think if you explain things clearly then the other person, if they are reasonable, will get it. Her kids are more important to her than me and that’s right.
    • 74jax
    • By 74jax 9th Oct 17, 7:57 PM
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    74jax
    I own the property myself and my husband live in. It's in my name only. My will leaves the property to my daughter.
    Forty and fabulous, well that's what my cards say....
    • Gavin83
    • By Gavin83 9th Oct 17, 8:46 PM
    • 4,608 Posts
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    Gavin83
    If he's paying towards the mortgage as you've suggested then he's already got a claim on your property, although admittedly not much. However this will only increase over time.
    • Mojisola
    • By Mojisola 9th Oct 17, 9:21 PM
    • 28,336 Posts
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    Mojisola
    I own the property myself and my husband live in. It's in my name only. My will leaves the property to my daughter.
    Originally posted by 74jax
    That leaves the possibility of your husband challenging the will because 'reasonable financial provision' wasn't made for him - unless there is lots of capital as well.
    • 74jax
    • By 74jax 9th Oct 17, 9:45 PM
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    74jax
    That leaves the possibility of your husband challenging the will because 'reasonable financial provision' wasn't made for him - unless there is lots of capital as well.
    Originally posted by Mojisola
    Thanks mojisola, no he'll be absolutely fine. I'm also one of these people who updates their will all the time, so as things - circumstances - change so does my will.

    We all know the will contents etc. And are happy for now. It may change, but at the moment my daughter inherits.
    Forty and fabulous, well that's what my cards say....
    • groovy_chick
    • By groovy_chick 10th Oct 17, 2:42 PM
    • 63 Posts
    • 261 Thanks
    groovy_chick
    When you stand there in front of all of your nearest and dearest, all starry eyed and say "All I have, I give to you" it is actually a real thing - once you are married, your husband has a contract that says he can have half of your house and everything in it.
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    • Fireflyaway
    • By Fireflyaway 10th Oct 17, 2:54 PM
    • 1,269 Posts
    • 1,285 Thanks
    Fireflyaway
    I'm no legal expert but if he is paying ' rent' which you then use to pay the mortgage, might he have a claim on the house if you divorce? He would be able to prove that his contribution benefited you financially so surely he might be awarded something?
    The will - just name your daughter but decide what to do if she wants to sell and your husband is still living there. Maybe you could draw up an agreement that gives him tenants rights so he can stay?
    • 74jax
    • By 74jax 10th Oct 17, 3:13 PM
    • 4,491 Posts
    • 6,064 Thanks
    74jax
    When you stand there in front of all of your nearest and dearest, all starry eyed and say "All I have, I give to you" it is actually a real thing - once you are married, your husband has a contract that says he can have half of your house and everything in it.
    Originally posted by groovy_chick

    I think the OP is mainly worried about inheritance for her children though, not if they divorce and what they will both end up with, which is obviously different to what she puts in her will.
    Forty and fabulous, well that's what my cards say....
    • 74jax
    • By 74jax 10th Oct 17, 3:19 PM
    • 4,491 Posts
    • 6,064 Thanks
    74jax
    I'm no legal expert but if he is paying ' rent' which you then use to pay the mortgage, might he have a claim on the house if you divorce? He would be able to prove that his contribution benefited you financially so surely he might be awarded something?
    The will - just name your daughter but decide what to do if she wants to sell and your husband is still living there. Maybe you could draw up an agreement that gives him tenants rights so he can stay?
    Originally posted by Fireflyaway


    Sorry fireflyaway, I didn't know if this was for me (as you mentioned 'daughter' or if it was for the op). I didn't want to ignore you if it was for me....


    If we divorce then my will 'wishes' wouldn't come into it. He would have a claim on my property, just as I would have a claim on his property. His property - as it stands - is around 5 x £,000 than mine is, I would expect he'd just keep his and I'd keep the house (but in divorce who knows how it goes!). He also has huge savings, which again I'd have access to in divorce, but as long as I have my house, he can keep his property and money.


    I have no desire to divorce so hope to never find out how it would play out
    Forty and fabulous, well that's what my cards say....
    • WillowCat
    • By WillowCat 10th Oct 17, 6:27 PM
    • 696 Posts
    • 802 Thanks
    WillowCat
    Biggest protection you can give is to not get married.

    Say you separate in 3 - 4 years time. You've been in a 5 - 6 year relationship (pre-marriage cohabitation is added to marriage length).

    If there are no other assets then the starting point would be a 50:50 split of your house. Your children would be 18+ so there would be no delay on a forced sale of your house.

    You could agree a pre-nup - and these are considered binding except if there has been a change in circumstances. For example he has an accident and is left disabled.
    • TBagpuss
    • By TBagpuss 10th Oct 17, 8:30 PM
    • 5,940 Posts
    • 7,691 Thanks
    TBagpuss
    See a solictitor. You can arrange to have a pre-nuptial agreement and, if the two of you decide to buy a house together, a declaration of trust.

    You'll also need to update your will, either making one 'on contemplation of marriage', or once you are actually married.

    A pre-n is not legally enforceable but provided it is done properly, and that you review it periodically and in particular if anything changes, it will be taken into account by a court in the event the marriage breaks down.

    Updating your will can ensure that you preserve your children's rights, and those of your spouse.
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