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Late marriage

(9 Posts)
Sounbelievablydull Fri 01-May-15 22:39:16

I have been seeing someone for about 4-6 years on and off.
He has asked me to marry him and I have accepted but am unclear about what the financial implications will be for me.
I own a house that is worth approx 1.3 million with a very small mortgage. He has a flat with a some but not much equity.
I also jointly own a house in France with my brother, no mortgage.
I know that I am in a very privileged position but have have worked very hard to achieve this.
My fiancé has three grown up sons, I have two grown up children.
Can I say that only my children should inherit my house and half the french house, or will his children be entitled?
This is not a deal breaker but I just want to be clear about what the implications are, my brother has implied that my fiancé has ' struck gold' and I suppose I'd like to know whether I could just leave things to my children. I do believe he is not interested in what I own but doubt does creep in .

purplemurple1 Fri 01-May-15 22:44:35

Are you in the uk ? As i undetstand it prenups atent legally binding in the uk.

almahart Fri 01-May-15 22:47:17

Go and see a lawyer to find out the score. I have no idea if you can protect your assets for your children if you are married. I'm sure someone here will. I wouldn't make such a huge decision without professional advice though.

Sounbelievablydull Fri 01-May-15 23:22:45

Yes I am in the uk.
I was so pleased to be asked to marry someone after a lifetime of poor relationship outcomes but now am feeling vulnerable.
Maybe a long engagement??

Cherryapple1 Fri 01-May-15 23:39:09

You get married then make a will. If you don't your husband will be automatically entitled to money via intestacy laws. So a will is imperative to ensure your children benefit from your estate.

Maliceaforethought Sat 02-May-15 09:33:13

Message withdrawn at poster's request.

Cabrinha Sun 03-May-15 09:23:12

Marrying someone because you're pleased someone asked is a bad idea.

You talk about inheritance - but I'd be more worried about divorce.

I wouldn't ever get married with a fully grown family, no joint family, and a big disparity in assets.

Also the French home - aren't there very specific rules about property inheritance under French law?

I wouldn't marry.

ShanghaiDiva Sun 03-May-15 09:30:14

Marrying will make your current will void and if you do not make a new one your husband would inherit some of your estate under intestate rules. You have full testamenteray freedom in UK and can leave your estate to your children or allow DH to have a lifetime interest - see your solicitor. The house in France many be trickier. I know there is not full testamentary freedom there, so check with your solicitor as to inheritance rules and if they affect you I'd you are ordinarily resident in UK.

Mumblechum1 Sun 03-May-15 12:42:12

OP, I'm a willwriter and advise that if you do marry, you make a will as soon as possible afterwards to include a life interest in possession trust for the house (see this article www.marlowwills.co.uk/protecting-your-estate-from-care-home-fees.aspx - ignore the title, these trusts are ideal for step families).

A life interest trust gives your new husband the right to live in the property until his death or remarriage.

Another option, if you don't want your children to have to wait for their stepfather's death for their shares in the house, would be to give him a right to reside in the property for a fixed period (I'd suggest 2 to 5 years), after which the house would be sold and the proceeds paid to your children.

You don't mention any other cash assets so I'll presume that they're not significant.

The English will covers all assets except any real estate abroad and so you'd also need to make a "tandem" will in France covering your share of the French property. Make sure that you let both lawyers know about the other will so they don't accidentally revoke each other.

You don't actually have to wait until marriage before making your new will. You can make a will in contemplation of marriage, ie declare that it will remain in force after the wedding.

If you need any more info please feel free to pm me.

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