Re-marriage, Deed of Trust and wills

snuffypolwarth

I currently co-habit with my partner in a house jointly owned with a deed of trust. I have the largest share and the deed states our respective stakes in the house and any profit made after we purchased will be split 50/50. We each have 3 children and our wills state that our respective shares in the house go to our children in the event of our death. The surviving partner is allowed to stay in the house until the youngest child has left Uni.
My question is, what will happen if we marry? I want to protect my initial much larger investment in the house. If I die I do not want my share to go to my husband who could then pass it on to his kids only. Equally I don't want it to become 50/50 so that all 6 kids get an equal share.
Can I write this into a new will? Does the Deed of Trust automatically become null and void once we marry?

*~Zephyr~*

The Deed of Trust remains valid after marriage but the Will does not.

pphillips

Your wills become void upon marriage and you will need to do them again after you get married.. Presumably the deed of trust was written to cover death but was it written in contemplation of marriage? If not it wont include any provisions relating to divorce and so the house might be considered as part of any financial settlement.

Caroline_a

snuffypolwarth wrote: »

I currently co-habit with my partner in a house jointly owned with a deed of trust. I have the largest share and the deed states our respective stakes in the house and any profit made after we purchased will be split 50/50. We each have 3 children and our wills state that our respective shares in the house go to our children in the event of our death. The surviving partner is allowed to stay in the house until the youngest child has left Uni.
My question is, what will happen if we marry? I want to protect my initial much larger investment in the house. If I die I do not want my share to go to my husband who could then pass it on to his kids only. Equally I don't want it to become 50/50 so that all 6 kids get an equal share.
Can I write this into a new will? Does the Deed of Trust automatically become null and void once we marry?

Why have you put this clause in? If the house is then to be sold the surviving partner may be too old to get another mortgage, or be able to afford another house. I get the trust part re division of equity, but I think you might be shooting yourself or your partner in the foot with this. Surely it would be better to have the surviving partner able to stay in the house for the duration of their life?

TBagpuss

The deed of truist is not automatically invalidated by your marraige but a judge would, if you were later to divorce, get to decide what, if any weight to give to it.

It would be sensible for you to have a pre-nuptial agreement which expressly states that you both intent the deed to remain enforceable between the two of you during and after any marriage and / or to update the deed to expressly record that.

That would not stop a judge from changing things in a divorce but it would make it much more likely that the deed would be followed.

Once you marry, these things (deed and pre-nup) tend to be given less weight the longer you are married for, so it is also wise to review them and record that you have done so and do not wish to make any change, at intervals (say every three to five years, or in the event of any major changes of circumstance)