Declaration of Trust?? Instead of a will?

paddy's_mum

It sounds as though your solicitor is actually very much 'on the ball' especially with the timing of doing the deed of trust since you are about to buy a house - it is almost certainly better to draft the Deed while in the throes of the purchase than months down the line or even, heaven forbid, forget about it altogether!

Perhaps even more importantly, doing it at the time of the house purchase protects all of you (adults and children alike) since it does not allow any doubt or questions in the future about who owns what.

I wish you every happiness in your new home.

Pinkywink

Thank you very much for all your informative and kind replies. I really appreciate them. We're going to email the solicitor and talk things through again later. Many thanks

getmore4less

Make sure any life interest has terms that allow a house move.


I would also be very carefull as it could end up with conflicting instructions in a trust deed and the will.

I would have thought you want the trust deed to deal with who owns what shares of the asset and what to do with any mortgage payments and disputes while alive.

The will deals with the asset that is part of the estate and becomes a life interets with the children as beneficiaries of the trust.

Whatever the solicitor thinks is best for you being in possesion of all the facts they hould be able to explain it in simple terms that you understand.

(A resonable test is can you then explain it here and have it understood)

Be warned many of the trust deeds that end up on hte mortgage gousing boards are not very good and these have been done by solicitors.