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New will

2 replies

GeneLovesJezebel · 07/02/2022 09:37

Having a new will done. House is owned 50:50 (tenants in common ?) and I asked that the house goes to my children but DH gets to live in it until cohabitation/marriage/unable to maintain house.
But I didn’t ask what would happen if he wanted to sell the house and move/downsize. What would happen ?

OP posts:
inheritancetrack · 07/02/2022 10:14

He would have a life interest in your half of the house. On your death he stays in the house until he dies under the trust. If he wishes to downsize he can port the money from the sale and buy somewhere smaller and the money usually stays in a trust waiting for his death although you can vary this and free up money for the dcs. You only own half the house as does he. You should write mirror wills If he marries again or cohabits and changes his will your half will still go to the Dcs on death unless there is a clause in your will about him remarrying. It's quite straightforward

inheritancetrack · 07/02/2022 10:14

You have to be tenants in common not joint tenants for this to work.

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