Buying house with 2nd husband

wizarddry · 28/05/2024 06:03

Adventurekreacher · 28/05/2024 05:58

I've been married to my 2nd husband for 7 years now. He has 4 kids from a previous marriage and I have 1 from previous marriage. We've both always lived in my house which I bought in my name and solely pay the mortgage for. He rents out his house and he pays the mortgage on his. He gives me money to cover some of bills and food but other than that our finances are separate.

We want to buy a house together once both our mortgages are paid off and but I want to make sure that all my part of the equity in the new house will go to my son and not split with his kids, will I need to state this in a will?

Yes you will need to state this in a will that you want it to go to your son. You will need to buy any new house as tenants in common.

SacreBleugh · 28/05/2024 06:18

Yes you'll need to be clear in a will. I've been married for 25 years and our assets are all completely joint. We have 2 children together and I have two stepchildren. Our will reflects that our joint children are inheriting from BOTH parents. My stepchildren will also inherit from their mother. The estate will be divided in 3 with a third each going to our children and a third divided between my stepchildren.

Testina · 28/05/2024 14:52

You need to think about more than just specifying it in your will.

Imagine the house is worth £250K, you die, your share of it is £125K. How is your widowed husband going to deal with that? And your grieving son? Does your husband have to sell up? Is he going to dig his heals in and push your son into a lengthy and emotional legal battle? Will your son have 4 step siblings telling him he’s a bastard for forcing an elderly grieving widow out of his home?

BoudiccaOfSuburbia · 29/05/2024 16:03

You will need to buy your house as Tenants In Common, and have a Deed drawn up which says what % of the house you own.

Then make your Will stating that you leave your share of the house to your dc, and anything else you wish to leave to your Dc / DH respectively. And set up a 'lifetime interest' for your DH so that he can live in the house for a set number of years or until he dies, or re-marries or co-habits - whatever you decide. This means he can stay in the house and it is released for your Dc as specified.

And bear in mind that he should do the same thing so that you are not turfed out of your home if he dies.

Incidentally, he is doing well at the moment - his mortgage is presumably being covered by his tenant because he lives in your house, while you are paying your full mortgage. I would have him make some greater contribution!

Alwaystired23 · 29/05/2024 16:20

Testina · 28/05/2024 14:52

You need to think about more than just specifying it in your will.

Imagine the house is worth £250K, you die, your share of it is £125K. How is your widowed husband going to deal with that? And your grieving son? Does your husband have to sell up? Is he going to dig his heals in and push your son into a lengthy and emotional legal battle? Will your son have 4 step siblings telling him he’s a bastard for forcing an elderly grieving widow out of his home?

I'm sure you can have something written in the will, so the father/ husband can remain in the house until his death, then on his death the house would be spilt. This was the case for a house my parents bought. The son had only just sold it after the death of his stepfather. It was his mother's house, and she had put in the will her husband would stay there til his death.