Good morning everyone! Another lovely morning here - I hope everyone is managing OK.
I advised a client yesterday who has been living with his unmarried partner for 14 years. He has two children and she has one, all from previous marriages which ended in divorce.
He and his partner co-own the property 75% :25% him:her.
He showed me a cohabitation agreement they have which states that on the death of one the other is able to stay in the home for a period of two years from date of death. Very sensible of course but I suggested this should be repeated in their Wills but then I’m thinking how does this affect the availability of the residence nil rate band? Once the two years up they want to pass their respective share in the property to their children. What is the position please?