Yes. The Will can be drafted as required, ensuring that the children benefit eventually but your partner can be given the right to reside in the property.  You can make provision allow them to live in the property until they die or just for a short period of time.

Yes it is possible.  Many old wills left the family home to a discretionary trust.  Whilst a discretionary trust will often see the assets go to the family, as there is discretion, it may not be possible for the executors to claim the Residence Nil Rate Band (RNRB). HMRC take the view that it has not clearly been left to direct descendants because there is an element of discretion.   This can be resolved in some cases during the probate process but it leads to significant additional costs and requires the beneficiaries to agree.  Far better to update the will now to reflect the current legislation.

This is very typical of the scenario’s we encounter.  A couple will usually want to find a way of ensuring that if one of them dies then the surviving spouse/partner is provided for but then the children will also eventually receive a share of the estate.  A simple and open discussion will usually pave the way for a suitably drafted will and possibly a flexible trust arrangement.

Yes.  You can leave assets into a discretionary trust for that child.  You appoint trustees (possibly other family members), to look after those assets on your death for the benefit of your disabled child. Where no family members are suitable as trustees, we work with a solicitor who can be a professional trustee.

Provided that it is correctly drafted then it may still be valid.  However, check that the attorneys named are still alive and that it was dated in the correct order. Remember that the Enduring Powers of Attorney did not include the ‘Health and Welfare’ element.  We are happy to review the document for you at our meeting.

We have encounter real life situations that may help you re-consider. We had a client whose husband had severe health issues and as a result was entitled to funded long term care.  The local authority placed the husband in a care home that was deemed unsuitable by the family.  However, without a health and welfare LPA the local authority argued that the family did not have the right to move him to another care home.  With help from the local MP, common-sense prevailed but it was a fight that they dint want to have and added to an already stressful situation.

Thankfully, we have a great NHS and generally wonderful people working in the care system but it doesn’t always function as iit should.  A valid health and welfare LPA allows the family the legal right to speak on behalf of their loved ones.

Possibly yes. It very much depends on the value.  Shares in many limited companies benefit from ‘business relief’ which means that they are not taxable on death (subject to some conditions). If your family subsequently sell the shares then the proceeds may end up one day attracting inheritance tax.  However, if the shares are left in trust then they are effectively ‘ring fenced’ from IHT on a future sale.  This is a more complicated scenario and again we are happy to discuss in more detail.

Picture a situation whereby one of a couple (who have children) has died and left everything to the surviving spouse/partner. Some years later that surviving spouse/partner re-marries.  When they die, how can you be sure that the assets you intended your children to have will ever be received?  That is the essence of sideways dis-inheritance and it cause a lot of upset to families. 

Trusts are usually the best solution so instead of the surviving spouse receiving everything outright, they are given a ‘life interest’.  They may receive an income or in some circumstances capital but on their death, the trust assets pass to the children (or whomever you nominate).

Wills with a property trust included are probably the most popular type of Wills these days. For the reasons outline in the above question about sideways dis-inheritance, instead of leaving the your share of the property outright to your spouse or partner, you leave your share in a trust but for their benefit.

The surviving spouse/partner will always have the right to live in the house or sell it but half of the asset value is always protected from threats such as care fees, bankruptcy or re-marriage. Ultimately, half of the asset value

is again ring fenced for the children or other nominated beneficiaries.

Trusts are more common than you may think.  If you have a pension, it is more than likely held in a trust of some description.  Life cover is often set up in trust simply so that it can be paid our quickly if the policy holder dies rather than awaiting probate.  Similarly, Wills often set up trusts for the reasons outlined above.  Trusts have been around in the UK for hundreds of years and very much part of our legal system.