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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 2
    • Gavin83
    • By Gavin83 10th Oct 17, 9:01 PM
    • 4,731 Posts
    • 7,517 Thanks
    Gavin83
    Although a pre-nun might help to stop a 50/50 split of the assets as a starting point it won't remove his interest in the property entirely and therefore she'd still owe him a portion of the property. Only way to remove his interest entirely is to stop charging him rent, although I'm willing to bet she won't want to and would rather have her cake and eat it. Saying that I've a feeling the OP won't be returning anyway.
    • WillowCat
    • By WillowCat 11th Oct 17, 9:44 AM
    • 725 Posts
    • 867 Thanks
    WillowCat
    Although a pre-nun might help to stop a 50/50 split of the assets as a starting point it won't remove his interest in the property entirely and therefore she'd still owe him a portion of the property. Only way to remove his interest entirely is to stop charging him rent, although I'm willing to bet she won't want to and would rather have her cake and eat it. Saying that I've a feeling the OP won't be returning anyway.
    Originally posted by Gavin83
    A pre-nup is entirely enforceable subject to their being no vitiating factors (duress or undue pressure to sign, non-disclosure of assets, possibly lack of legal advice etc) and that there have been no significant unexpected changes of circumstances. The weaker party must not be left 'in a predicament of real need' according to the supreme court, however needs are much less generously interpreted than in a normal financial hearing and only serve to prevent complete destitution.

    The downside is that if a pre-nup or other marital agreement is challenged then the matter must be addressed through court. It's taken me three years and eight court hearings but my DIY separation agreement was finally upheld in full.
    • Gavin83
    • By Gavin83 11th Oct 17, 11:43 AM
    • 4,731 Posts
    • 7,517 Thanks
    Gavin83
    A pre-nup is entirely enforceable subject to their being no vitiating factors
    Originally posted by WillowCat
    Yes I know that's what I said.
    • Chief01
    • By Chief01 14th Oct 17, 12:10 PM
    • 2 Posts
    • 1 Thanks
    Chief01
    Thank you for your comments. In reply to Gavin83, NO I do not want my cake and eat it . What I want is in the event of my DEATH, to protect my two children from losing what is rightfully theirs and what their Mother has worked tirelessly for over many years.
    I should have made it clearer that my partner has a property of his own which he rents out and receives an income from.... I do not benefit from this and never intend to! I should also have said that I have a high value to loan (over £400k equity) and so would not expect that my partner who, other than contributing to bills, should be entitled to. Thank you to those of you who didn't make judgement on my intentions, I have now taken legal advice
    • Mojisola
    • By Mojisola 14th Oct 17, 12:21 PM
    • 28,657 Posts
    • 72,982 Thanks
    Mojisola
    I have now taken legal advice
    Originally posted by Chief01
    In general terms, how did the solicitor recommend that you solve the problem?
    • LilElvis
    • By LilElvis 14th Oct 17, 1:11 PM
    • 3,203 Posts
    • 8,861 Thanks
    LilElvis
    Thank you for your comments. In reply to Gavin83, NO I do not want my cake and eat it . What I want is in the event of my DEATH, to protect my two children from losing what is rightfully theirs and what their Mother has worked tirelessly for over many years.
    I should have made it clearer that my partner has a property of his own which he rents out and receives an income from.... I do not benefit from this and never intend to! I should also have said that I have a high value to loan (over £400k equity) and so would not expect that my partner who, other than contributing to bills, should be entitled to. Thank you to those of you who didn't make judgement on my intentions, I have now taken legal advice
    Originally posted by Chief01
    Of course people made judgments, but only because you missed out a massive part of the scenario. How do you expect to get reasonable advice if you don't give fundamental information?
    • Gavin83
    • By Gavin83 14th Oct 17, 4:13 PM
    • 4,731 Posts
    • 7,517 Thanks
    Gavin83
    Thank you for your comments. In reply to Gavin83, NO I do not want my cake and eat it . What I want is in the event of my DEATH, to protect my two children from losing what is rightfully theirs and what their Mother has worked tirelessly for over many years.
    I should have made it clearer that my partner has a property of his own which he rents out and receives an income from.... I do not benefit from this and never intend to! I should also have said that I have a high value to loan (over £400k equity) and so would not expect that my partner who, other than contributing to bills, should be entitled to. Thank you to those of you who didn't make judgement on my intentions, I have now taken legal advice
    Originally posted by Chief01
    Well done on proving me wrong and returning!

    You've made quite a few changes to your OP, are you saying your partner isn't paying you rent and instead just paying half the bills? In which case you'll be fine.
    • Robisere
    • By Robisere 14th Oct 17, 5:40 PM
    • 1,938 Posts
    • 2,692 Thanks
    Robisere
    Before you changed the scenario, I was thinking of the ages of your children, who are not too many years away from entering into relationships themselves. They will need help financing their own housing arrangements, is what ocurred to me. Then I realised that you had probably included that same thinking in your plans to leave them the house, should the worst happen.

    That is great forward planning and I admire you for it. Your children have a very thoughtfull mother, who has their future interests at heart. I hope you live a long and happy life, surrounded by grandchildren and great grandchildren.
    There may be more than one way to skin a cat.
    But the result is always inedible.

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