No clue and no will

[mummyof2boys30]

We are a married couple in our late 30s with 2 teenagers. Our mortgage is due to be cleared in the next 5 years. At the minute we only have our house as an asset but this is likely to change as we are both likely to inherit on parents death but obviously not guarnateed and also hopefully not for a long time.
We have no will and really need to look into it. Our intentions would currently be a 50/50 split between the kids. Can this be done that the children are protected if one parent remarried. We both really dont understand the whole process but want to ensure our children are protected

In your circumstances I would do a basic mirror will for you both, leaving everything to your DC, if you want to go down the route you are suggesting then you need specialist trust advice. We did our Wills using 10minutewill company, ours is straightforward, 2 adults sons, everything is spilt 50/50 between them. Of course things happen and you want to ensure your money goes to your DC but you could spend thousands getting trusts prepared, when you may never need them.

You can create a trust in your will.
https://www.drnlaw.co.uk/how-do-i-protect-my-childrens-inheritance-if-i-remarry/

Can you both leave everything to DC but with DH / DW given a life interest in the property so they can live in it until death but cannot sell it/ leave it to a new spouse?

Making a will isn’t a once -only process. All you need for now seems to be mirror wills leaving everything to each other and then divided between the children. As circumstances change (inheritance, relationships) you adapt or make a new one.
I use Farewill, for a small fee the will is checked by legal staff before you sign it. Other companies are available. Don’t throw money at solicitors for complex arrangements trying to tick all sorts of hypothetical boxes.

Hi OP I'm a will writer and recommend that you write wills including a Life Interest in Possession Trust. This states that, on the first death, that person's share of the home goes into a trust administered by 3 people; usually the surviving spouse plus someone from each side of the family such as a sibling or close friend.

The surviving spouse is able to continue living in the house until they die or remarry, but otherwise nothing changes. When the trust comes to an end because they have married again or have died, the first-to-die's share of the equity goes to the children, so it gives them a good measure of security whilst at the same time, the surviving spouse has the security of the home.

@Mindymomo says that a trust costs thousands, but this type doesn't, I only charge an extra £150 for a life interest in possession trust, and that includes checking the land registry records and, if necessary, severing a joint tenancy so that the trust can take effect.

It's something which I always advise clients in step families, or older clients worried about care home fees to include in their wills, but there are also lots of people in your circumstances who include this type of trust.

Exactly this. It is better to make a will for the cir that apply at the time. As and when your circumstances change, for example if you split up from your current partner, then you remake your will.

I thought that if your house is owned as joint tenants then it cannot be included in a will at all - each tenant owns the house wholly so ownership automatically stays with the surviving person.
The other way of owning property is as tenants in common. In that way, the share that each person owns can be included in their will.

Go with Mumblechum, she really knows what she is talking about, she did our wills and LPAs, (which you should also consider), she’s also very reasonably priced, and a very nice lady. She’s the Mumsnet goto for a reason.