Wills and trusts
SolsticeBabyMaybe · 05/07/2019 18:09
Can anyone advise?
If as an unmarried mother and step mother you want to leave some of your money to children under 18, can you make your partner 'administer' their bit to them until 18 if need be?
Mainly theoretical question, but I realise that if I die intestate, my PARENTS will end up in charge of any money I leave, not my partner as we are not married! then he'd have to go cap in hand to ask for anything for my kids and stepkids until my kids are 18! Nightmare!
hsegfiugseskufh · 05/07/2019 18:10
I would make a will if i were you.
hsegfiugseskufh · 05/07/2019 18:12
Posted too soon!
I think you can put it in trust for the kids and say who you want in charge of it?
If you married him it would go to him rather than your parents
SolsticeBabyMaybe · 05/07/2019 18:16
It would be easier if we were married but we don't believe in marriage in general so this is the tricky bit of that
AndBeholdAWhiteHorse · 05/07/2019 18:22
I'm not exactly sure what your plans are but your best bet would be to make your partner an executor and trustee. The residue of the estate could be left to your children upon them attaining the age of 18 and I believe the trustee can use the funds for the benefit of your children prior to their 18th birthday. It may also be worth having two trustees if you think there could be any issues. Death and money does funny things to people.
SolsticeBabyMaybe · 05/07/2019 18:27
It's fine if he can be a trustee, I just don't want my parents to be!
Firefliess · 05/07/2019 19:53
My will leaves my money to my children and names DH and DSis jointly as trustees. They can decide whether to use the money on my DC until they're 21, at which point they'd get it themselves.
SlightlyMisplacedSingleDad · 05/07/2019 22:33
Definitely have more than one trustee. For your children's security.
soapona · 12/07/2019 00:25
If you have biological children the law of succession goes directly to them not your parents and obviously not your partner but he may have tenancy rights. Just get married if your committed I find this not believing in marriage ridiculous. It's a transaction and just gives legal security like adoption. Frankly you're either committed or not and it sound like you may not even be committed enough to write a will.
To comment on this thread you need to create a Mumsnet account.