Hear me out.
DH and I are happily married with DC, both of us work and all finances are pooled.
I am DH's second wife, and he has done well through previous investments etc before we were married, so brought more to the marriage than what I did (nothing )
As a means of protecting the children's inheritance DH has said about putting a clause in our wills (we currently have mirror wills) about the house of if one of us dies instead of the all the assets and finances just going to the other surviving spouse, a portion of the house (50%) be put in trust for the children. Just in case one of us was to be 'hit that bus' before our time was up (so to speak), we have seen it happen in our own family where one parent died, there was young dc left, the remaining parent went on to remarry and the new spouse moved in and they divorced years later leaving the dc left with absolutely no inheritance from the second marriage.
He is looking to see if we can protect our children's inheritance that way I think it's a good idea but thinking that I wouldn't want to run the risk later (god forbid something happen to either of us!) of falling out with one of the dc down the line (hypothetically speaking - it does happen though doesn't it ?) and they would be able to force the sale of the family home to release the portion of their inheritance this is my only concern.
Does anyone do this ? I would imagine others would be doing this at some point as well ? Can anyone advise anything ? We will be going to a solicitor anyway, but actually thinking on it we did have a trusted friend (dc's guardian in fact) as an executor on the will along with one of the solicitors, but from reading on here about them charging a portion of the estate as a fee, I'm thinking we might remove this instruction when we redo the wills !
Please or to access all these features
Please
or
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AIBU?
to not leave the house entirely to the surviving spouse in the will should one of us die?
58 replies
TheDogAteTheHomework · 02/12/2014 20:39
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