Case Study One |
Case Study Two |
Case Study Three
Remarriage
Mr B & Ms C had both been married before. The had decided that they would both reside
in Ms C’s property, that she had owned outright, since being Widowed. Both Mr & Ms C
wanted to ensure that if Ms C predeceased her new Husband, then the Property
must be passed to her 3 Children, However they were concerned that Mr B could
be made homeless if this was to happen
Recommendation
Clients should both have single Will’s appointing each other as their
executors, expressing
how they
would like their individual assets to be distributed
if either should die.
Ms C’s Property is to be distributed separately (via the Will), by
placing the
Property
into an ‘Interest in Possession Trust’. This enables Ms C to
give the
Property to her
Children, allowing Mr B a ‘right to Occupy’ the Property
for a
period of time that they feel
appropriate (client chose a period of
5 years
for Mr B to live in the Property).
