07/05/2026
Owning your home (or any property) is one thing! But HOW you own it is vitally important!
If you own your home 'Jointly' with your spouse, partner or someone else, then it comes under the 'Rule of Survivorship' when you die! (This is not affected by having a Will) It would mean that the Co-Owner inherits your home in its entirety! Sounds good? But is it?
It could depend on your age and what your future health could be.
If you are a young couple with a child or children, and your spouse/partner dies then you would own the whole property! But if you then marry someone else and then you die, your children could become totally disinherited! This is because the property, depending on value, would most likely then be owned by your new spouse under the 'Rules of Intestacy', and as your new spouse has no inheritable link to your child/children, then when you die your kids are potentially disinherited.
If you are an older couple with grown up kids and you want them to eventually own what you own now, but one of you goes into care and the other one dies, the whole house could be taken and force sold by the care providers to fund that care. Your kids may not then inherit the home that you cherished, as one day being for them! Your Legacy could be virtually nil!
If either of these scenarios concern or worry you then you need to understand the potential implications of owning your home "Jointly".
Give me (Steve) a call on 07738 902 397 to arrange a free visit so that this, and the alternative options open to you would be fully explained! Free of charge!
Don't just leave the inheritance of what would normally be your most valuable possession to chance! www.slawep.com