Financial arrangements with new partner

[fedupandnogin]

Just wondering what people do when they get together with a new partner and purchase a house together bearing in mind there are children from previous marriages on both sides and one person will be able to contribute substantially more than the other (and then hopefully no mortgage). Do you work it out as a percentage of what you have contributed in terms of your ownership/equity in the property and have some sort of agreement drawn up? And what do you do about wills, etc ie regarding ownership of the property if one of you dies? It becomes rather complicated doesn't it?

Yes, I would have a deed of trust drawn up and ensured that my share went to my children.

I'd expect 50/50 on th bills though unless some children were resident then would expect the parent to cover their costs.

A lot of people want to protect their partner in old age which can cause resentment from the children. I think each couple needs to sit down together and decide what they what to happen and ensure their will is watertight.