by Saqib Khan | Feb 2, 2023 | Conveyancing, Powers of Attorney, Wills
If you own a house with your partner but are unmarried in the UK, it’s important to protect your interests and ensure that you have legal rights to the property. Here are some steps you can take:
- Get a cohabitation agreement: A cohabitation agreement is a legal document that sets out how you and your partner will manage your joint assets, including the house. It can outline who owns what percentage of the property, how bills and expenses will be divided, and what will happen if you separate. Having this agreement in place can help to prevent disputes and ensure that you are both protected.
- Register your ownership: If the property is registered with the Land Registry, make sure that both you and your partner are listed as owners. You can choose to hold the property as either joint tenants or tenants in common. As joint tenants, you both own the property equally and if one of you dies, the other automatically inherits their share. As tenants in common, you each own a specific share of the property and can pass it on to whoever you choose in your will.
- Consider taking out a mortgage jointly: If you are both contributing to the mortgage, it’s a good idea to have both of your names on the mortgage agreement. This will ensure that you both have a legal right to the property and will be responsible for the mortgage payments.
- Keep records of your financial contributions: If one of you is contributing more to the mortgage or other household expenses, keep detailed records of this. This can help to prove your financial stake in the property if there is a dispute later on.
- Seek legal advice: If you are unsure about your legal rights and how to protect them, it’s a good idea to seek legal advice from a solicitor who specializes in property law. They can help you to understand your options and draft a cohabitation agreement that meets your needs.i
If you would like to discuss any of the above, please telephone Georgina Hardman in our wills department on 0161 850 9911 to discuss further.
by Saqib Khan | Jul 7, 2022 | Wills
Writing a will is one of the most important things you can do for your loved ones. It’s a legal document that ensures your assets are distributed according to your wishes after you pass away.
Despite its importance, many people delay or neglect creating a will, which can lead to significant problems for their families in the future. In this blog post, we will discuss the benefits of having a will.
Decide how your assets will be distributed
A will is a legal document that allows you to decide how your assets will be distributed after you pass away. This includes everything from your bank accounts, investments, and personal belongings. By creating a will, you have the power to decide who will receive your assets and how much they will receive.
Choose who will be responsible for managing your affairs
Another important benefit of having a will is that it allows you to choose who will be responsible for managing your affairs after you pass away. This person is called an executor, and their role is to ensure that your assets are distributed according to your wishes. By appointing an executor, you can have peace of mind knowing that your affairs will be handled by someone you trust.
Minimise family disputes
Without a will, your assets will be distributed according to the laws of your state. This can sometimes lead to family disputes, especially if there are disagreements about who should receive certain assets. By creating a will, you can minimize the chances of family disputes and ensure that your assets are distributed according to your wishes.
Provide for your dependents
If you have dependents, such as children or elderly parents, a will can ensure that they are provided for after you pass away. You can use your will to set up trusts or make specific bequests to ensure that your dependents are taken care of.
Save time and money
Creating a will can actually save your loved ones, time and money in the long run. Without a will, your assets may be tied up in probate court for months or even years. This can be a costly and time-consuming process that can create additional stress for your loved ones. By creating a will, you can help ensure that your assets are distributed quickly and efficiently.
In conclusion, creating a will is an important step in ensuring that your assets are distributed according to your wishes after you pass away. It can also help minimize family disputes, provide for your dependents, and save time and money. If you have not yet created a will, it’s important to speak with an attorney or financial advisor to ensure that your wishes are properly documented.
Call one of our Will Specialists on 0161 850 9911 now.
