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Original poster

Financial advisor - moving in with partner

29 replies

dontbeabsurd · 12/11/2024 11:59

I’m considering moving in with partner. We both have own mortgaged properties but for various reasons cannot live together in one of them. Partner suggested selling both houses up and buying a property together but I have my reservations about it. How do I find a financial advisor specialising in such issues?

OP posts:
Original poster
dontbeabsurd · 12/11/2024 14:01

@Pat888 my DC is at uni and it’s highly unlikely they’ll ever return to live with me. His DC is older but lives with him atm.
I don’t think I’m nuts ;), quite the opposite

OP posts:
Harassedevictee · 12/11/2024 16:55

JadziaD · 12/11/2024 13:44

Yes. I think there are three main areas you have to consider and agree on in advance:

  1. How will finances work day to day. Ensuring that tis fair/equitable based on preference, income etc
  2. What happens in the case of a break up - how do you split finances/split assets and ensure that is fair and you are both equally benefiting from any appreciation in value.
  3. What happens in the case of death. this would include short term and long term eg his share of the house goes to his children but you have the right to live there indefinitely or whatever.

This is a good list but I would also add

  • What happens if one or both of you become a) physically disabled b) mentally disabled. Dementia can be cruel and costly.
  • What happens if you need to downsize, move to a more accessible property etc.?
  • Make sure you have a legal agreement in place, LPoA and wills. Owning a property as tenants in common means you can leave your share to your DC but give a life interest to your partner.
Original poster
dontbeabsurd · 12/11/2024 18:18

@Harassedevictee @JadziaD thank you, helpful!

OP posts:
fromdownwest · 12/11/2024 18:51

I would suggest a solicitor would be better suited to this.

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