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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34276
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have recently re-married (Dec13). My husband has 2 children

Resolved Question:

I have recently re-married (Dec'13). My husband has 2 children from previous marriage and I have 2 children. I have some money (only 1/5 of what he has) to invest in a property (conversion of barn he currently owns). He wants us to become 'tennants in common' as he wants to ensure his children will inherit their fair share. How would this affect me upon his death? If I chose not to own a share in the property, what would happen to my right to live in the family home in the event of his death? Thanks. J
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is XXXXX XXXXX I will do my best to help you but I need some further information first.
What assets do you each actually have?
Clare
Customer: replied 3 years ago.

I will invest £76,000 and my husband will receive around £260,000 from sale of his house and the current value of barn and land before renovation is £300,00 (which belongs to him). He wants the property to be divided in the will so that what he invests is taken out and split between his 2 children and what I invest is split between my 2 children and that the profits relating to house price interests is divided as a percentage between chn according to proportion initially invested. Thanks x

Expert:  Clare replied 3 years ago.
Hi
Do you have any other assets?
Clare
Customer: replied 3 years ago.

No, I don't. x

He has a business and a pension. I don't know how much his business assets are worth.

Expert:  Clare replied 3 years ago.
Hi
Where were you living prior to the marriage?
Clare
Customer: replied 3 years ago.

I lived with my ex husband who decided to leave me after 17yr marriage. We sold house and divorced before moved in with my current husband.x

(met current husband after separated from ex)

Expert:  Clare replied 3 years ago.
Hi
The concept of holding the property as Tenants in Common so that each of you can leave your share to your children
HOWEVER that is only fair if proper provision is made for your accommodation in the event of your husband's death - and indeed for your support.
This can be dealt with after his death by way of an application to the courts - details here http://www.sheddenfamilylaw.co.uk/inheritance-act-fact-sheet.php
I hope that this is of assistance -please ask if you need further details
Clare
Customer: replied 3 years ago.

Thank you. Very interesting. If I chose not to become a Tenant in Common and he had sole ownership of property, would I be entitled to live in house after his death in the event of him leaving the property to his children in his will? x

Expert:  Clare replied 3 years ago.
Hi
The answer to that is the same I am afraid - if no provision has been made in the Will then you would have to make an application to the court
Clare
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