HOW BAD CAN IT GET?

This explains what can happen to a couple who live together but are not married, have a child or children from a previous relationship and have no Wills or Declaration of Trust.

We have recently advised a client whose partner had died suddenly.  There was no warning and no time to make arrangements.

They had been living together for a number of years with her son but had never married. The property was held as tenants in common in equal shares but there was no Declaration of Trust confirming who owned what share. There was a mortgage outstanding and life cover had been taken out for this sum but following current practice this was not assigned to the Bank. 

Under the intestacy rules, the deceased's share of the property passed to her Son.  As our client does not have Parental Responsibility for the child, the child is being cared for by the Grandmother.  This relationship is difficult.  There is a dispute as to whether the life cover should be used to repay the mortgage.  All in all the position is complicated, fraught and challenging at a time when feelings are raw and emotions are running high.

If our clients had taken advice earlier, for example, when they moved in together, a parental responsibility order could have been obtained, a declaration of trust could have been drawn up supported by wills and the family would have been protected.

It is better to make plans for the “What if” than to wait for something to happen

If the above strikes a chord with you, and you require further advice, then please do not hesitate to contact us on 01708 784000.