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Beneficiary on Death
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chantelt71
Posts: 1 Newbie
Hi, I wanted to know who would be the beneficiary to my property in the event of my death. I own my property and have solely paid the mortgage for 22 years. I own 50% on a DIYSO scheme. I am part repayment part endowment and have 9 years left on the mortgage. My husband to be has lived in my property for 1 year. We will be married in June this year. I want my daughter to be the beneficiary as I always intended. I want my property ownership share to pass to my only daughter in full with my husband not obtaining any ownership or funds. He is in agreement with this. How would I go about making it legal?
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Have you not written a Will?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Make a will.
It would currently pass to your daughter as next of kin.
Once you are married it will pass to your husband.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Note that if you write a will now it will be invalidated when you marry, so arrange to have one written before the marriage but don’t get it finalised just after.0
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If you die first. Would you want your husband to have the right to remain in the property? In drafting a will you need to think through all the potential scenarios thoroughly.0
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Without wanting to sound unduly negative, if you and your husband to be split up in years to come then depending on how long you are together for your home could potentially count as a marital asset before you even get to the will stage of who to leave things to.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0 -
chantelt71 wrote: »My husband to be has lived in my property for 1 year. We will be married in June this year.
I want my daughter to be the beneficiary as I always intended.
I want my property ownership share to pass to my only daughter in full with my husband not obtaining any ownership or funds. He is in agreement with this.
He's in agreement now - there's no telling what his circumstances might be if you die first and how he will behave.
A spouse whose home is willed to someone else (and who isn't financially provided for otherwise) would have a legitimate reason to challenge the will and would most likely gain at least the right to stay in the house until death.0 -
[FONT=Verdana, sans-serif]Make a will now and if you include its in anticipation of marriage it will still be valid when you marry.[/FONT]0
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