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Life Time Interest and Downsizing

2 replies

CoastalCalm · 14/10/2024 22:28

Current making my first will , property is owned as tenants as common with unequal shares - my share is £200k and husbands is £80k. I am planning on setting up a trust for my share to benefit my niece and nephew but DH will have a lifetime interest , he is planning to leave his share to me if I’m alive but otherwise will pass to niece and nephew

The main question we have is can he downsize property if I were to die ? I have been trying to find guidance online and I think he can downsize to £200k and release the money surplus to the trust for his use ?

he won’t need a house this size on his own and would probably want to move location too as his family are around an hour away currently

OP posts:
prh47bridge · 14/10/2024 23:55

Provided the will is properly written, yes, he will be able to downsize. You should get your will drawn up professionally. A solicitor will be able to explain what will happen if your husband decides to downsize after you die.

CoastalCalm · 15/10/2024 13:37

prh47bridge · 14/10/2024 23:55

Provided the will is properly written, yes, he will be able to downsize. You should get your will drawn up professionally. A solicitor will be able to explain what will happen if your husband decides to downsize after you die.

Thanks I have just been to see solicitor and much happier now about the process

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