It’s obvious, isn’t it?
As a couple, leaving everything to each other in your Wills might seem like a no-brainer. There are, however, hidden dangers with this approach. For example, if one of you dies, then the survivor remarries, the money that you thought would end up going to your children might end up going to the new spouse. This is a particular problem in what are called blended families, where there are stepchildren etc.
Another problem can be care fees. If the survivor needs residential care, and you’ve left your share of the property to them, it could all be lost.
The solution for many people, and a way to protect your assets, is the Protective Property Trust. When combined with changing the ownership of the property to tenants in common, this means that your share of the property is left in trust for your children if you die first.
Now have a watch of our video where we explain the details.
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