Joint mortgage & Not married.

[Hyland]

Joint mortgage but we are Not married.

Don't remember the terminology but it was set up so that if one of us dies it would automatically transfer over to the other.

However i am wondering, does this mean that the surviving partner would be left with a tax bill?

Do you mean that your ownership of the property is set up as Joint Tenants?

As opposed to Tenants in Common.

If so, it is the ownership (tenancy) that is Joint, don't confuse it with the mortgage - which is a different thing but also sounds like Joint.

If you a Joint Tenants, then you both own all the property, rather than each owing a partial share. In which case, on death the survivor owns the entire property. This means it can't be left to someone else in the deceased will. It also mean no tax to pay because the survivor already owns the whole property.

This kind of question is best checked with a solicitor than a random on the internet though

The mortgage is in Joint names
but in addition to that because we are not married.

I was told and it was agreed that if one of us passed away. The other would automatically inherit the whole house.

I will have to check but it sounds like we are joint mortgage names and joint tenants.

I was worried that the surviving partner could be left with a 40% tax bill due to not being married.

However it sounds like, what we have set up, would avoid this anyway.

I will definitely get it checked out though.

Someone one also told me that if my partner died our daughter wouldn't get his savings etc but his only sibling would. (& or his parents)

or at least the sibling of my partner would be entitled to something alongside our daughter.

I just assumed it would all go to her.

same position here. Joint tenants means survivor owns outright without any tax liability hwoever yes in the absence of a will, the rules on intestacy means his estate would be inherited by his children alive at the age of his death / their children (England & Wales position). That can of course be overridden by a will leaving whatever he wants to leave to you / his sister /the dog's home

I've been told that because a Will is seen as a persons wishes only.

That it is quite easy for family members to argue they should get a share as well.

So if he left everything else to me or everything to our daughter. A judge would still consider the feelings of say his parents or sister if they chose to contest the will.

If his sister or mother or any other non relative was being financially supported by him and was dependent on him, yes they might have a claim if they weren't provided for under a will or intestacy (& that has nothing to do with whether or not you're married). Absent that, his sister and mother have absolutely ZIP claim over his estate.

(& it's not easy; it's expensive and there are lots of hoops to jump through, none of which relate to "feelings")

That it is quite easy for family members to argue they should get a share as well.

Whoever told you that is mistaken. As pp says, the family members might have grounds to make a claim if he were financially supporting them at the time of his death, but it would not be easy.

As you have children, the best advice is for you both to consult solicitors and make wills.

I am in the uk and my sister who lives in Scotland. Was telling me about a case where the man died leaving one son a huge percentage of his estate: farms and the other two sons a much smaller amount.

The son left more, has worked with his dad on the farm his whole life, whilst the other two had no interest in it.

The judge supposedly agreed with the 2 sons that all 3 should be equal.

Also reading about a court of Appeal decision where a lady named: Melita Jackson died and left everything to three charities and judge awarded money to daughter.

That's not at all true about the will. If he leaves everything to you and/or your daughter his family would find it next to impossible to claim anything in court.
Unless they were being supported by him financially and could claim dependency on him, but even then it's not likely.

I was just worried that perhaps writing a Will isn't really worth the paper it is written on.

I guess it is better to have one than not at all.

Maybe the two examples i gave were more about one being disinherited and one where siblings were give unequal amounts.

Not similar to my concerns of his relatives and my daughter.

We were going to do a Will anyway, but I'm sure we'll seek professional advice.

You have a very odd and wrong view of wills. People make wills, 99.999% of the time what is written in the will is what is done.

How much is the property worth OP, and how much is the mortgage? You only pay inheritance tax on your main home if it is worth over £1m.

Less than that ... not been valued recently. Maybe £450

Feel silly if the tax is only on homes over a million.

Some of the laws in Scotland are different to England

Yes i did have that same discussion with my sister about the laws in Scotland. She is my much younger sister, but made me feel i was being naive regarding a Will safeguarding our daughter ha ha

Well she's right - you are being naïve. You should make wills favouring your daughter, if you want her to inherit.

Personally I would leave my estate to my partner not our child, but that's your choice. Seems crazy that your boyfriend could die and your /his daughter inherit his savings when you are the one left bringing her up with an income short.

Right now you would inherit nothing without a will. (note that we already covered that the house is not part of his estate)

There are plenty of cases where a will has been challenged. Anyone can legally challenge a will. I could challenge your boyfriend's will - but I'd get laughed out of court. As others have said, if a will is unfair, a judge can over rule it. That's really unusual though! And not to make a will because of it is just stupid. Your sister's scaremongering is stupid too - especially as she may even be under different laws . You don't say if you're in Scotland too - the UK include Scotland.

Are you planning to marry? Be aware that when you marry, it makes a previous will invalid. So even if you wanted the same thing, you'd have to renew it.

Yep silly me, meant i am in England South East.

We spent a lot of money on IVF so a wedding was always seen as a waste for us.

We have said one day maybe we'll just do it privately whilst away on holiday.

I totally understand the point about me or him being left to raise our child.

I'm sure we will discuss this together properly.

Our Life Insurance is intended for this, but always difficult to know what would be sufficient.

Congratulations on the successful IVF!
(my child was an expensive test tube one too!)

Thanks 3rd time lucky

Congrats. to you too

Ouch - that is expensive! Glad you got there in the end

Was you first time lucky?

Please make a will or get married as my sister is going through a lot of shite due to her partner dying with no will and they weren't married. He has a child with her (plus 2 other children he treated as his own) but also has a child with his ex wife. His death in service hasn't gone automatically to her and now she has to prove she is entitled to any of it - it may end in being split between the 2 children (his daughter is older and they were estranged and his son is only 12 so any money for him would go into trust). If they had been married it would have gone to her. She also couldn't claim widowed parents allowance as they lived together but weren't married. She relied on his wages so it would have come in handy.

Sorry to hear about your sister.
Hope all is resolved for her x

I promise i will sort.

I assume you mean that you have joint ownership. As such when person A dies their legal claim to the property ceases to exist and person B is left with sole ownership as opposed to person B inheriting (and being liable for tax) on the property.