Family Wills – When your new partner can acquire money, home & property intended for your own children.
News story here.
So what happens when your new partner hawks off with your house, money and stuff and your kids are left with little or nothing?
I suppose a death is similar to a separation or divorce. Should it go to your kids or the new person in your life.
I take the view in separation or divorce it should go to who worked and earned it keeps it.
In death it should be for the person who eared it children first and not your step children unless it is in your will.
Harsh, unfair or problematic? While the answer is all three, I prefer to call it simple.
I favor trusts. You don’t own it, you’re just a trustee. If you want the trust to allocate limited living rights in a property to your new partner and step kids you can. But ultimately who earns the money their children get it.