Docklands Solicitor

Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.

Friday, 15 April 2011


Are you happy to leave your estate to your husband’s next wife?

- If the answer is ‘NO!’ then you need to consider how you own your assets, and the available estate planning options to help you preserve them for your children, or your side of the family.

- If you own your property with your spouse as ‘Beneficial Joint Tenants’, effectively you both own 100% of the property, which means that on 1st death the surviving joint tenant will inherit by ‘survivorship’ and the property cannot be passed to anybody else, no matter what your Will says.

- So if the survivor then remarries, and again owns the property as joint tenant with their new spouse, if the survivor predeceases them, the new spouse will take the whole property, and your own children would receive no part of it after the death of both their parents.

- How can you avoid this situation? The first step is to sever the ‘Joint Tenancy’ to ‘Tenants in Common’ so that you both own 50% of the property, and can then each leave your 50% via your Will. The next step is to include a Trust in each Will, to appoint your children as ultimate beneficiaries, but providing a ‘life tenancy’ or ‘right to reside’ (eg until they remarry) for the surviving spouse, so they can continue to live in the property, but cannot pass your share onto your replacement!

- There are many areas of flexibility that can be built into such Trusts, and professional advice should always be sought from a Solicitor or Will writer specialising in Estate Planning.

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Call Michael Breeze on 07900 195 195 or call 0845 270 2511 to if you need legal advise about any of these issues

Kaslers Solicitors LLP is a limited liability partnership registered in England under LLP no. OC310653; authorised and regulated by the Solicitors Regulation Authority under reg no 408936; governed by professional rules set out in the Code of Conduct click here to visit and has its registered office / main trading address at Suite 3, 10 Churchill Square, Kings Hill, West Malling, Kent ME19 4YU - tel: +44 (0)845 270 2511; fax: +44 (0)845 270 2513; DX 92863 West Malling.
The LLP Members are Michael D Breeze LL.B (Hons) (SRA reg no 110184) and Simon McCree Scott LL.B (Hons) (SRA reg no 298202).