On her side there are no other assets. On my side there will soon be a reasonable amount of cash approximately £180,000
We are both 50 but she has not been well at all for a number of years. I realise this is young but we do not want to take the risk of anyone , especially the inland revenue , getting any of our money if one of us , probably her does not live for 7 years. (The 7 year rule) She is especially adamant about this.
She is ambivalent as regards ***** ***** the property - I don't think it would be possible for her to raise the equity to give me cash , she doesn't mind selling but I don't see any problems on my side with her staying on in the house for the foreseeable future as long as the house was officially half mine and we could relax knowing things will go the way we always wanted without worrying about the inland revenue (If the house was half mine now i don't think we would have to worry about inheritance tax later on) We do still love each other (even though we are separated) and are aware that if we had sorted this out years ago , properly , we would not have a problem now
There is a small mortgage. Definitely less than £40,000 . How would this affect the situation?
There may be in the future the possibility of just paying this off