Is a will necessary?

[MamaLlama123]

I am married and have 2 children. I bought a house in my name in 2021 and got married in 2022

I bought my house whilst me and husband were engaged. He wasn't able to be on the mortgage at time due to his credit history- he has now taken steps to improve his credit score/ paying off debts etc. it is planned that some time in the future - he will be added onto mortgage but we will explore this when we next remortgage (currently fixed for few years)

If anything happened to me, is it automatic that all equity in our house would be given to my husband?

is a will necessary in this situation?

if i need a will, who do i approach? how do i get this arranged? i would rather avoid an unnecessary expense if possible

Thank you!

You have children. Get a will

Good to have a will to say what you want to happen if both of you die

You approach a solicitor. There are certain times of the year when some solicitors will do a free will in exchange for a charity donation in the will (not compulsory but who wouldn't). There are di it yourself templates but I wouldn't recommend.

Even if your will pretty much replicates what inheritance laws would dictate, it can massively expedite the process of settling your estate. Having helped a close friend go through sorting out her intestate husband's affairs I would strongly recommend everyone has a will.

Dying intestate (I.e. without a will) makes everything more complicated and stressful for the people left behind.

You can find a wills solicitor on the Law Society website. Ask for quotes and find one within budget - mirror wills for both of you will be more cost effective than a single will and the solicitor will act as your witness to ensure it is legally valid.

https://solicitors.lawsociety.org.uk/

So if something happened to you would you want all your assets and house all to go to your DH?

Potentially for him to leave it to another woman in 10 years or so, who might not in turn leave anything to your children?

Also, look at the ownership of your house. Is he now paying half the mortgage? Did he put money in for the deposit even if it was all in your name?

The mortgage decrees who owes money to the lender. It is the deeds that say who owns the house. You can own together in 2 ways (if you put him on the deeds when you remortgage), as Joint Tenants or as Tenants in Common. As Joint Tenants if one partner dies ownership of the whole house reverts to the survivor. As TiC you each own a defined share (50% each or any other proportion). In this case each person can leave their share to a beneficiary of their choice. So you could leave your share direct to your Dc, for example.

A will usually specifies what happens if, for example , what happens if you and your DH die at the same time, and who inherits if one or more beneficiaries are no longer living.

Also, written instructions as to ongoing care and responsibility for your children.

It depends on what country you're in, E&W intestacy laws differ from Scottish for a start...

https://www.gov.uk/inherits-someone-dies-without-will

As PPs have said, more to the point, if everything goes to your husband, and then he remarries without making a (fresh) will, if he dies it may all go to his new wife! And if he divorces, his assets are also at risk.

So make a will and leave something in trust for the kids...which will, yes, mean going to a solicitor. But it's the last thing you can do for your family to show them you love them.

My dad died and his known wishes meant zero as he didn't make a will. Step mother, who previously had so piously nodded and yes-ed and said she would honour his wishes on his death bed took everything, EVERYTHING, for herself and her kids. Make a will, you never know what hand life will deal you.

It will likely cost more to get him put on the mortgage as part owner than to get wills.
You definitely need wills , especially if you have children.

I'd be less worried about my husband and the house and more concerned about the children.

If you have no will what arrangements have you made for your children should both you and your husband die? Who are their guardians and what financial arrangements have you put in place for them?

What @YouJustDoYou said. A really good friend of mine's mother died very swiftly after diagnosis when we were teens. She had wealth and had owned the house, I think it all happened so quickly that they didn't pay attention to what could happen next.

Her dad was a really nice man but a bit naive I think. He quickly moved on and married a woman with four children who was much more on the ball (unfortunately). They were married for 15 years then he got ill and died, again very quickly after diagnosis. His second wife said all the right things to my friend's dad when he was ill about prioritising my friend but as soon as he died my friend's step mum just changed. She took everything, even the bits of jewellery that had belonged to my friend's mum.

I remember how devastated my friend was when she spotted one of the step sisters in some cafe (the step DC had ignored my friend from the funeral onwards) and saw very clearly that she was wearing my friend's mum's engagement ring. It would have devastated her mum and dad too. All that heartache was WITH a will but not with the right provisions (not sure of all the details). You just cannot rely on even the most genuine seeming spouse doing 'the right thing' down the line and for any subsequent spouse to give a damn about your DC. You not only need a will but the right will to protect your children especially if they're not his children.