EG......my wife and I did our wills (paying a professional) .
It was straight forward as there are 2 children who get on and are equally loved. So, as many people do we each left 'our half' in trust to the children.......so that, should one of us go into a care home they can't touch our money etc.
Fast Forward.
My wife passed away in June.
My health deteriorated.
Decision was made to sell the house to my daughter and SiL and for me to live in the existing 'granny flat'.
ONLY......its not that simple........BECAUSE 1/4 of the house now belongs to my son "in trust".
None of us thought of that.
We are meeting with the will writer and a well respected solicitor to work out the best way forward.
NB.
My son only wants what is best for me and is not causing any problems.....its purely a legal problem.
I will keep you informed.......this is simply to warn everyone that things/Wills may not be as straight forward as first thought.
It was straight forward as there are 2 children who get on and are equally loved. So, as many people do we each left 'our half' in trust to the children.......so that, should one of us go into a care home they can't touch our money etc.
Fast Forward.
My wife passed away in June.
My health deteriorated.
Decision was made to sell the house to my daughter and SiL and for me to live in the existing 'granny flat'.
ONLY......its not that simple........BECAUSE 1/4 of the house now belongs to my son "in trust".
None of us thought of that.
We are meeting with the will writer and a well respected solicitor to work out the best way forward.
NB.
My son only wants what is best for me and is not causing any problems.....its purely a legal problem.
I will keep you informed.......this is simply to warn everyone that things/Wills may not be as straight forward as first thought.