Property- Joint ownership or common

Trwen

We’ve been married 23years. My husband bought our property outright 1month before I met him. He holds sole title. 

We’re both now in late 70s and my worry is how best to secure my position if he pre-deceased me. 

We both have children from previous partnerships. He clearly invested more than me (I put in some £15k - from my children) but I have worked together with him to refurbish the cottage from more or less derelict. Neither of us own other properties.
If he does pre-decease me I will have to sell,  as impossible to maintain this property on my own, and I have no savings. Nor has my husband. We’ve both spent everything on doing up our home.
At the moment he has made no will. 

What would be our best option?

The_Unready

The first thing to do is to get him to write his will (and you, if you haven't already done so).

Keep_pedalling

The_Unready said:

The first thing to do is to get him to write his will (and you, if you haven't already done so).

That might not be the best outcome for the OP. At the moment with no will in place she would inherit the first £270k of his estate plus 50% of the rest. The other 50% goes to his children. He could write a will leaving everything to his children leaving the OP with nothing, although that would be wide open to a challenge by the OP.

This is clearly the marital home and should they ever divorce the starting point would be a 50/50 split.

What is your relationship like as far as finances are concerned? Would he be open to putting the house in joint ownership as tenants in common?

The other thing here is that the house seems to be a money pit, why not downsize to something that does not consume every penny you have.

ProbateNewbie

I think the £270K amount has changed last year to £322K now?

Marcon

Trwen said:

We’ve been married 23years. My husband bought our property outright 1month before I met him. He holds sole title. 

We’re both now in late 70s and my worry is how best to secure my position if he pre-deceased me. 

We both have children from previous partnerships. He clearly invested more than me (I put in some £15k - from my children) but I have worked together with him to refurbish the cottage from more or less derelict. Neither of us own other properties.
If he does pre-decease me I will have to sell,  as impossible to maintain this property on my own, and I have no savings. Nor has my husband. We’ve both spent everything on doing up our home.
At the moment he has made no will. 

What would be our best option?

Posting here seems a little odd. Wouldn't a discussion with your husband be the best option, so you both know where you stand?