I am currently preparing Wills for a married couple.
Both have been married before. Both have children from that previous relationship. They do not have any children together.
The property is in the wife’s sole name. The couple accept that most of the assets should pass to the wife’s children, as she brought most of the assets to the marriage.
She wishes to leave the property so that 50% passes to her children on her death and the other 50% is held for her husband, until such time as he dies or sells the property, whichever the soonest and, thereafter, to her children.
The husband’s Will leaves his assets to his children.
I am not sure if I am over (or under!) thinking this but, what I am trying to establish is whether the wife’s estate will benefit from the husband’s RNRB, despite the fact that he does not own a property.
Any guidance would be greatly appreciated.
Harold Bell Infields & Co