WILL MAKING

[ramesh046]

MY TOTAL ASSETS INC THE HOUSE WOULD BE ABOUT £350k
The house is my name. I want to make sure the children gets their fair share. So I state in my will that on my death my wife and 2 children share equally 3 ways. So who does the house belong to then?
Presumably my wife would stay in the house and assuming children get married later on.If the children then want money to buy their own propert y later on, Can they demand their share?. ie sell the joint house. Assume the children dont need money(rich boyfriend etc) and the wife is alon e in the house. If she then moves abroad and rents out. Who does the income belong to? and How do the chikldren keep track of the income which belongs 3 ways?

I know I should visit a solicitor but any help would be greatly appreciated

[oldmaggie]

This question always annoys me. The house is in my name so I say what happens to it well I think you should leave it to your wife and if she pre-deceases you leave it to your children. Many times I hear of widows stuck in a house too big for them unable to sell and move because once it is sold and monies given to the kids she doesn't have enough money to house herself and run a home. Stop being so controlling if you have been married for many years and you do leave the property 3 ways I hope she contests the will.

[baileyman]

Yes you should visit a solicitor and make a will properly. Doing it the way you want to is just not fair and will likely cause bad feeling between your wife and children

[fredpuli47]

See a solicitor and stop trying to save money doing it yourself, with consequences you (and the lawyers here) cannot guess, without precise instructions. The solicitor might advise a trust with your wife holding it with remainder over to the children or the property passing to the children with a right in your wife to live in it for life or equal shares to your wife and children, your wife to live in it for life or at will, or some other arrangement, such as giving to your wife absolutely, but if she has predeceased you to the ,children in equal shares. Who knows ?

[suzie1]

the house may be in your name, but she is the one that made it a home, surely you would do the right thing and leave the house to your wife....if you died before her, then she could do a will of her own stating if she died the house should go equally to both the children.....just an opinion

[brenda]

What is it that you are actually trying to do?
Are you trying to ensure that your wife doesn't do off with all the loot or what?
Or do you have so little faith in your children that you feel they would turn your wife out, by trying to enforce a sale of the house/
See a solicitor and get what ever it is you want recorded in a legal way.
Remember tho that your wife has rights to the marital home, and a good solicitor acting for her on your demise will see that she gets them.

[suzie1]

hes more worried about the kids than the wife.....tsk tsk, im sure the wife will do the right thing by her children, unless they are not hers and shes a step mum

[ummmm]

Go and make wills together leaving everything to each other and for when both of you die it goes equally to the children.

[dzug]

<<Or do you have so little faith in your children that you feel they would turn your wife out, by trying to enforce a sale of the house/ >>

There are circumstances where they might have little choice but to do so - eg messy divorce.

[ramesh046]

Thank you for your answers. I will pay a visit to the solicitor.
By the way its step mum and no love lost between children and her