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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33535
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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A friend of mine wants to put 50% of his property in his partners

Resolved Question:

A friend of mine wants to put 50% of his property in his partners name (they don't live together at moment and have no plans to marry). He is doing this because he wants to protect his home from being sold if he needs specialist care and to reduce inheritance tax. Can a 'prenup' or legal cause be added so that if something unforseeable or unexpected happens in the future, his right to remain there will not be challenged.
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How old is your friend and how much is the property worth?
Will his partner eventually live in the property?
Clare
Customer: replied 2 years ago.

hi Clare, he is 70. The estate is approx 350k with another 100k in savings etc. Yes, she will likely live there in future.

Expert:  Clare replied 2 years ago.
Hi
How old is his partner?
What will happen to the other half when he dies?
Clare
Customer: replied 2 years ago.

50. He wants her to inherit the other 50%.

He has no immediate family or close relatives. He is intending to leave another 50k to charity. This is on top of the amount already specified. My main concern is that he will be able to retain the right to live in his home as he has lived there all his life

Expert:  Clare replied 2 years ago.
Hi
He needs to be sure to instruct an experienced Solicitor to draw up the Transfer and ask the Solicitor to also draw up a Declaration of Trust confirming that he is able to remain in the property so long as he wishes to do so and cannot be forced to sell the property
He also needs to consider what will happen in the event that his partner pre-deceases him - or goes Bankrupt - or they separate.
He should also consider carefully the fact that if he is not funding his care then he does not necessarily get the Care home of his choice
Please ask if you need further details
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33535
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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