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House and will

(4 Posts)
Pomegranatepompom Sat 26-Nov-16 20:32:51

Does anyone have experience of trusts

A few years ago, a relative died and left his hare of the house in a trust to me. The surviving partner still lives there and wants to leave her half to my children.

Obviously her very kind choice, but wondering if this will be quite challenging as we'll have a house I can't sell (DC are very young) and I don't really want them to inherit half a house at 18!

We probably need some expert advice? Relatives solicitor has drawn up a will but hasn't really talked pros/cons of the situation.

mumblechum0 Mon 28-Nov-16 14:51:07

Are you sure the house can't be sold if your children are still minor when your relative dies?

Usually the will would include a simple type of discretionary trust which means that the house can be sold and your relative's share invested in a trust fund for your children (you would of course receive the other half of the net proceeds)

ZoFloMoFo Mon 28-Nov-16 14:53:50

Why wouldn't the house be able to be sold? Is that written into the terms of the trust?

Pomegranatepompom Mon 28-Nov-16 16:19:18

Thank you for the useful replies. I am seeing her tomorrow and will read through the new paperwork. She's happy for me to speak to the solicitor too and so I'll ask her those questions.

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