Do I make a will or wait?

jenmac_2

I'm about to exchange contracts on my first house (joint mortgage with my partner), we have 1 child together and are due to get married next October. Thinking ahead and especially as we are about to buy a house, my question is do I wait to make a will until after we get married, or do it when we complete on the house?

Thanks for your help.

[Deleted User]

jenmac wrote: »

I'm about to exchange contracts on my first house (joint mortgage with my partner), we have 1 child together and are due to get married next October. Thinking ahead and especially as we are about to buy a house, my question is do I wait to make a will until after we get married, or do it when we complete on the house?

Thanks for your help.

Do you know when you are going to pass away?

Tigsteroonie

Do you have anything other than the house to leave?

Mojisola

jenmac wrote: »

I'm about to exchange contracts on my first house (joint mortgage with my partner), we have 1 child together and are due to get married next October. Thinking ahead and especially as we are about to buy a house, my question is do I wait to make a will until after we get married, or do it when we complete on the house?

You can make a will now "in contemplation of marriage" which won't be invalidated by the marriage.

Don't wait until you have bought the house. If you specify a particular property in your will, you will have to make a new will every time you move house. The will should be written to include anything you own, including property.

If you and your future spouse are going to own the property as 'joint tenants', the property will automatically be fully owned by the survivor following the first death and won't form part of the estate.

Robin9

You need to think about the child - in the, hopefully, unlikely death of you both who would look after him/her.

Yes make a will now and revise regularly.

jenmac_2

@Sleavy....hopefully not for a long time yet!

@Tigsteroonie - no nothing at all, just the house

@Mojisola, if either one of us automatically becomes the full owner, do we need a will as we have nothing else to leave (at the minute - we are in our 20's and don't own anything else)

Mojisola

jenmac wrote: »

@Mojisola, if either one of us automatically becomes the full owner, do we need a will as we have nothing else to leave (at the minute - we are in our 20's and don't own anything else)

If you are planning a marriage and saving for a house deposit, you must have something.

If you die before you get married, your partner will not inherit anything from you - your child will be your beneficiary.

Don't you wish to set out what would happen to your child if both of you die or are you happy to leave that decision to a social worker?

jenmac_2

Sleazy wrote: »

Do you know when you are going to pass away?

Tigsteroonie wrote: »

Do you have anything other than the house to leave?

Mojisola wrote: »

If you are planning a marriage and saving for a house deposit, you must have something.

If you die before you get married, your partner will not inherit anything from you - your child will be your beneficiary.

Don't you wish to set out what would happen to your child if both of you die or are you happy to leave that decision to a social worker?

very good point, I haven't done much homework at all on wills - always thought "O I have nothing of value to pass on so its ok I don't need one" and obviously thought if I were to die then her Dad would be here - never really faced the fact that something could happen to both of us.
Thanks for all your replies everyone, will be speaking to my solicitor about getting one sorted asap

getmore4less

If you have a mortgage then you have to consider how that gets paid under various scenarios if you want to keep it.

The one most people miss is one of you getting so ill the other has to look after them and cant work.