How do I make sure that my children inherit part of my estate if I die before my husband?

My husband and I have been married for more than 20 years. We have no children together but we each have 2 children from a previous marriage. How do I make sure that my children inherit part of my estate if I die before my husband?

There are a number of ways that this can be done and it is important that you take legal advice about the best way to achieve what you wish. One option is for you and your husband to make a declaration that you own your home jointly as tenants in common. You would then each need to make a will in which you leave your share in your home ultimately to your own children. You can provide in your wills that the survivor may continue living in your home after the death of one of you and that the survivor may sell your home as often as he wishes and purchase another home upon identical trusts. After your death your husband would not be able to deal with your share in the home in any other way and so ultimately it would pass to your children. Alternatively you could create a trust in relation to your whole estate so that your husband could have the benefit of the trust if he survived you but upon his death the capital passed to your children

My husband and I wish to purchase a property in Devon. This property will ultimately be our main residence when my husband retires from work in 18 months time. If we purchase this property now without selling our home in Barton on Sea will we have to pay additional stamp duty?

Yes you will have to pay the higher rate of stamp duty upon completion of your purchase of the property in Devon. The higher rate is 3% above the current stamp duty rate. If you complete the sale of your home in Barton on Sea within 3 years of the purchase of the Devon property then you will be able to claim a refund of the additional stamp duty

My mother obtained an equity release mortgage on her home approximately 7 years ago and is worried about the interest accruing on the mortgage. Is it possible for my sister and I to loan her the monies to repay the equity release mortgage?

It is possible for your mother to apply for a repayment figure so that she can pay off the mortgage. She may have to pay an early repayment penalty depending on the conditions of her mortgage offer. If you and your sister pay off the mortgage for her then you should make sure that your monies are protected as a loan as otherwise if your mother were to move into a nursing home all of the value of her home may be counted as her capital for the purposes of paying nursing home fees and you may not be repaid. If the loan is to be protected then you would need to take legal advice and your mother would need to be represented by a separate solicitor in order to ensure both your interests are safeguarded

If you do require legal advices about these or any other matters then please do contact us on or call Helen Stewart on 01425 279222