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james bruce
james bruce, Solicitor-Advocate
Category: Property Law
Satisfied Customers: 5886
Experience:  Owner at James Bruce Solicitors
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I have a question about wills, UK, me and my wife have

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Hello, i have a question about wills
JA: Where are you? It matters because laws vary by location.
Customer: UK
JA: What steps have you taken so far?
Customer: me and my wife have mirrored wills
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: how to guarantee our daughter receives the residual of our estate when the last partner dies

Hello, I hope you are well. My name is***** am a solicitor advocate and I will be assisting you with your question today. I am very sorry to hear of the problem you are experiencing and I will do my best to help you with this matter.

Customer: replied 10 days ago.
Hello James
Customer: replied 10 days ago.
As you know my wife and I have mirrored wills leaving the estate to each other and when we have both gone the estate goes to our daughter (my step daughter)
Customer: replied 10 days ago.
my wife would like to know if there is a vehicle or method which can guarantee that our daughter gets the residual of the estate if my wife were to go before me
Customer: replied 10 days ago.
ie i may decide to alter my will after her death
Customer: replied 10 days ago.
she wants to safe guard her daughter against any changes

Thank you for that additional information, that will be helpfull in allowing me to advise you today.

A mirror will is not a “joint will”, they are two separate things.

A Murrow will, like you have, looks the same, has the same legacies etc, but there is nothing to stop one person changing the will when the other has died.

A joint will, is not used that often, but is as it says “joint” it is one single document that is created for both partners and is signed by both it is like a contract that cannot be changed.

So, a “joint will” is one option.

Another option is to make new wills, that would leave a “life interest” in the property and estate to the surviving partner, and when their life  interest ends, the estate goes to the daughter.

That is the most common way these things are done.

Customer: replied 10 days ago.
does a life interest have any hold over the property that cannot be changed ? ie if we had a lifetime mortgage on the property would that need to be settled on the death of one partner or does this just come into play after both partners are gone ? if my wife were to die before me would the estate have to be split at that point or can I just continue until dead and then my daughter would inherit it all ?
Customer: replied 10 days ago.
is the life interest changeable by the remaining partner ?

The life interest cannot be changed. What it means is that the daughter would get at least half the estate, ie from the first person who has died when the s economic dies, they would also receive the over half when the second person does if they have not changed the will.

The mortgage would not change things.

Customer: replied 10 days ago.
Hi James I am sorry I dont understand what a s economic is ? "when the s economic dies" ?

Sorry predictive typing.

That should have been when the second dies.

Customer: replied 10 days ago.
just for clarity, if we set up a life interest, then my wife died, then the daughter would get half the estate at that point ? so I would have to sell to pay that ?

Sorry I did not explain that very well. Yet me explain again.

When the first person dies, the will would grant a live interest to the remaining partner. Your daughter will inherit the deceased persons share of the estate when that live interest given to the remaining partner comes to an end, ie when they also die.

At that point, your daughter will inherit was was left if that first life interest, plus what ever is left to them in the will of the second person who dies.

Can I assist or clarify anything further?

Customer: replied 10 days ago.
if our intention to pay our existing mortgage with a lifetime mortgage based on the property value of say £600K this would not be possible if the life interest was in place as the value that could be borrowed against is only half ? or does the mortgage company have first charge then the remainder would be subject to the life interest ? Or perhaps would it be a better move to get the life interest in place after the lifetime mortgage is in place if the mortgage company has first charge over the property ?

Sorry I cannot answer that, you would need to speak to your mortgage lender. I can answer on the wills issue, not on the mortgage.

Thank you for using Just Answer and for allowing me to assist you with your legal enquiry. I am pleased I was able to be of assistance. Please do not hesitate to come back to me for further advice on this or any other legal matter. It will be my pleasure to be able to assist you again.

Customer: replied 10 days ago.
ok thx

your welcome.

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