Living in Sin

[Ozone]

Before this gets assigned to a backwater forum, i am in the process of purchasing a house with the GF. We both have children from our previous marriages. what is the general consensus with regards to wills?
Assuming 50% each ownership, if either of us die, do we force a house sale to give the benefactors (ie the kids) their half, leaving the other party potentially homeless.
Has anybody been in this situation and if so what did you set in place?

Thanks

[lazyitus]

Ozone said:

Before this gets assigned to a backwater forum, i am in the process of purchasing a house with the GF. We both have children from our previous marriages. what is the general consensus with regards to wills?

Not bad, Charlie. The one to keep an eye on is that brother of his, Harry. How's Camilla by the way ?

Edited by lazyitus on Friday 17th July 11:24

[V8mate]

You should discuss this frankly with your OH and come to an agreement now. Because if it causes a rift now, it'll cause the mother of all wars if one of you is 'taken' suddenly.

[mrmaggit]

Both get your own wills done, stating what you want. WW3 otherwise.

[Ozone]

lazyitus said:

Ozone said:

Before this gets assigned to a backwater forum, i am in the process of purchasing a house with the GF. We both have children from our previous marriages. what is the general consensus with regards to wills?

Not bad, Charlie. The one to keep an eye on is that brother of his, Harry. How's Camilla by the way ?

Edited by lazyitus on Friday 17th July 11:24

She goes like a horse

[Ozone]

V8mate said:

You should discuss this frankly with your OH and come to an agreement now. Because if it causes a rift now, it'll cause the mother of all wars if one of you is 'taken' suddenly.

Yes, that's what we want to avoid. The plan is to do seperate wills but in the event of death should the house be sold or 1/2 be put in trust until a certain time?

Edited by Ozone on Friday 17th July 11:35

[V8mate]

Ozone said:

V8mate said:

You should discuss this frankly with your OH and come to an agreement now. Because if it causes a rift now, it'll cause the mother of all wars if one of you is 'taken' suddenly.

Yes, that's what we want to avoid. The plan is to do seperate wills but in the event of death should the house sold or 1/2 be put in trust until a certain time?

Well that's a question the two of you need to agree on; not a bunch of internet randoms.

Decide now and then when you buy the house you can decide whether to be 'joint tenants' or 'tenants in common'.

Read this

[DIW35]

Ozone said:

V8mate said:

You should discuss this frankly with your OH and come to an agreement now. Because if it causes a rift now, it'll cause the mother of all wars if one of you is 'taken' suddenly.

Yes, that's what we want to avoid. The plan is to do seperate wills but in the event of death should the house be sold or 1/2 be put in trust until a certain time?

Edited by Ozone on Friday 17th July 11:35

That's what you need to sit down and discuss with your OH. Hopefully you will come to an agreement. It also depends on how your house is owned - one way means that house ownership in full will automatically defer to the surviving partner, the other way means that you only ever own half each.

One is known as tenants in common, and I can't remember what the other is called; nor can I remember which is which.

[Ozone]

V8mate said:

Ozone said:

V8mate said:

You should discuss this frankly with your OH and come to an agreement now. Because if it causes a rift now, it'll cause the mother of all wars if one of you is 'taken' suddenly.

Yes, that's what we want to avoid. The plan is to do seperate wills but in the event of death should the house sold or 1/2 be put in trust until a certain time?

Well that's a question the two of you need to agree on; not a bunch of internet randoms.

Decide now and then when you buy the house you can decide whether to be 'joint tenants' or 'tenants in common'.

Read this

Thanks for the link.

I was just wondered what other people had done in the same situation. We will be taking legal advice also.

[carmadgaz]

When my dad died he owned the house outright. He left it between my sister and I but put a clause in that my mother (unmarried) has "life tenancy" and as long as she doesn't marry etc can live there as long as she wants. If we want to sell we have to have her consent too.

Sure you can adapt the clause to suit that the kids have their share but can't sell it until the GF dies or gives permission (and visa versa).