Partners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint tenants, should one partner die, that share is passed automatically to the surviving partner and will not pass through the Will. This is known as passing by ‘Survivorship’.
Alternatively, you may hold your property in specific shares – as ‘Tenants In Common’. This means that your share in that property will pass in accordance with your Will as it will form part of your estate. This enables you to make a gift in the Will to specify who is to take your share in the property, unlike a Joint Tenancy.
It is easy to convert a Joint Tenancy into Tenants In Common if you wish to make a gift of your share of the property. This can be done by a ‘Notice of Severance’, which is then registered with the Land Registry.
You can include gifts of personal belongings in your Will. However, if you would like a more flexible way of …
Read more Wills & ProbateIf the estate is valued at more than the nil rate band then the estate will usually have to pay …
Read more Wills & ProbateNo. A Will should reflect your circumstances as they are now, not what they might be in the future. You …
Read more Wills & ProbateA Will allows you to specify who you wish your estate to pass to upon your death. If you have …
Read more Wills & ProbateA member of your family, your partner, a friend or solicitor may act as your executor. The executor must be …
Read more Wills & ProbateYes, an executor may be a beneficiary in your Will and it is often appropriate that the main beneficiary is …
Read more Wills & ProbateIf you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
Read more Wills & ProbateOnly if there are serious disagreements between beneficiaries and/or the people making the Will.
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