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Thread: How can I protect my partner in terms of my house?

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  1. #1
    carina62's Avatar

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    Default How can I protect my partner in terms of my house?

    hello, I was wondering if anyone can point me in the right direction on what I need to do? I have got a Will already made. I live with my partner in my house which has a mortgage still on it but it is in my name only. I have a daughter and 2 grand-children.

    My question is - what do I need to do to protect my partner's rights with my house? ie do I need to put his name on the mortgage (and deeds) as joint ownership? I hope to leave the house as inheritance to my daughter and grandsons.

    What would be the best thing for me to do as the last thing I would want to happen is for example my daughter kicking my partner out of the house in order for her to sell it which would mean he would then be homeless. Our relationship with my daughter and her family is good but I am just thinking of worst case scenario as you never know what families do when it comes to money.

    Advice is much appreciated, I just need to know what to do. Thanks

  2. #2
    ostell's Avatar

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    Default Re: How can I protect my partner in terms of my house?

    The house is held in trust for your children and grandchildren until such time as you partner dies. Your partner has full use of the trust.

  3. #3
    Peridot's Avatar

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    Default Re: How can I protect my partner in terms of my house?

    Hi Carina62,
    Ostell is correct the property can be held in trust for your daughters until such time as certain events happen such as your partner passing away or other reason for example if he had another relationship. However this would have to be in your will.
    The property would be left to your daughter with a 'right to reside' for your partner until such time as is stated in the Will.
    Although a common scenario the Will must be drafted carefully to protect your partner and your daughter's inheritance. Things such as who will be responsible for insuring the property and it's upkeep also need to be considered.
    There is also the inheritance tax position to consider. If the whole of your estate is valued less that the nil rate band allowance (currently £325,000) then you will have no inheritance tax to pay. However if your assets are worth more than this then you may need to consider carefully how any tax would be paid and whether you should consider any further tax planning. In April the residential nil rate band allowance came into force when the main residential property is left to children or grandchildren. It is confusing and I would strongly recommend obtaining some legal advice on the best way to deal with this as certain actions may have unintended consequences for your partner or your daughter in relation to any inheritance tax that may be due when the time comes.
    I appreciate it will be more expensive than a 'basic' will, but it really would be worth having this prepared by a lawyer so you can ensure all the bases are covered to protect the property, your partner, your daughter and to consider what nil rate band allowance may be available and the inheritance tax position, if needs be.
    I am a qualified solicitor employed by the LegalBeagles forum to provide guidance on a wide range of legal queries. I am happy to try and assist informally, where needed.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any practical advice I give is without liability. I do not represent people on the forum.

    If in doubt you should always seek professional face to face legal advice.

  4. #4
    james robertson's Avatar

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    Default Re: How can I protect my partner in terms of my house?

    While I wouldn't go against Peridot's advice, a properly qualified (and Insured) Will writer would also be able to provide the correct Will for you, your situation is not uncommon and is simply catered for. They would also be able to consider your IHT position. Basically shop around!

  5. #5
    Peridot's Avatar

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    Default Re: How can I protect my partner in terms of my house?

    Apologies, maybe should have said a properly qualified specialist. But yes do check out qualifications of those offering will writing services.
    I am a qualified solicitor employed by the LegalBeagles forum to provide guidance on a wide range of legal queries. I am happy to try and assist informally, where needed.

    Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any practical advice I give is without liability. I do not represent people on the forum.

    If in doubt you should always seek professional face to face legal advice.

  6. #6
    warwick65's Avatar

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    Default Re: How can I protect my partner in terms of my house?

    Can I also suggest any will writer has adequate liability insurance. There are a lot of con men and women out there who say they are qualified and may be but don't have insurance if they screw it up.

    Sorry to to sound doom and gloom.
    Any advice or opinions I offer are based on my experience dealing with personal debt as well as other life events.
    I have no formal legal training
    Any advice is offered without liability
    If in doubt take professional legal advice or contact the CAB

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