Ensure your property is passed on as you desire.
While you might want to leave property to people you love, things are not always as straightforward as you would hope. When two (or more) people purchase property or land in England and Wales, the way in which it is owned and registered could affect what happens to it after you die. Worryingly, if you don’t put the proper provisions in place, this could prevent your property going to your intended beneficiary.
If you want to leave a property in your Will, there are several factors you need to consider. You’ll need to know how your home is registered.
Tenants in Common. This means each owner has a set share in the property, and, if someone dies, that share is passed on as stipulated in their Will. If no Will exists, the Rules of Intestacy come into force. This means the property does not automatically pass to the survivor and the relevant share could go to someone you do not want.
Beneficial Joint Tenants. Under this arrangement, both people own 100% of the property rather than having separate shares. So, if one person dies, the survivor automatically owns the whole property.
Today, man people are reviewing the way their property is owned to provide for their loved ones, future generations, and protect a home from being sold to pay for care costs.
Offering an in-depth personal service in the comfort of your own home, we make sure that the necessary ownership agreements are in place. We can do this in addition to your drafting your Will and funeral plans, and Powers of Attorney.
Providing professional, honest and friendly advice, we ensure you always understand what is happening. Furthermore, we make sure you have all the time necessary to ask questions and get the information you need.
Find out more about Pembroke Will Writers