Hi, my husband and I got married in 2010. We don't have children but he had another marriage before and has two children who are now adults. The house and the mortgage are in my husband's name. He had paid about 100k of the mortgage before us getting married and we have another 150k to pay off. I just would like to know what would happen to our house if my husband died before me. How much of the house can my husband give his children?
By the way, the house's worthy about 400k at the moment.
Thank you for your reply. We didn't live together for a long period before we got married. We don't really have other assets. My husband works for the university so his income is quite good, however as we still have a big mortgage to pay off, the money is only enough for living expenses. My employment is not steady and my income is only around 17k per year.
Sorry for late reply. I don't know about it. I didn't ask him.
Thanks for your reply. Can you please tell me how is the figure 250k worked out? By the way, what would happen to his pension that the university has been paying for him? Do I need to wait until I reach retirement age to be eligible?
Thank you very much. Can you please tell me how is the figure 250k worked out?
Sorry, Clare, can you pls also tell me if the 250k includes the pension? Thank you very much!