Protect kids inheritance should partner re-marry after death

C

canthinkname

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We are currently reviewing our wills and going to do up new ones and want to ensure that our children's inheritance will be protected should one of us re-marry after the other person dies.

We are married with children and planning on leaving everything to each other and then to our children should something happen to us both.

However, we want to ensure that the kids inheritance is protected should one of us dies and the other person remarries someone else either with or without their own children.

What is the best way to do this.

Thanks
 
So it's not their inheritance until you both pass away, at the moment it is your home you are talking about.
 
You need to get professional advice from a solicitor.
 
canthinkname said:
We are married with children and planning on leaving everything to each other and then to our children should something happen to us both.
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How old are your kids? How old are you? (Roughly of course here)

What is your estate likely to consist of if either of you dies around 60?
 
Both in late 40s. 3 kids under 18. Estate would be some cash and house currently valued around €550k. Life insurance policies on both of us, both have pensions I am a public servant so would be income from that.
 
You can change ownership of the property to tenants in common where you have distinct ownership of half the property and it doesn't automatically go to the other spouse on death.

Why don't you ask the solicitor who is drawing up the will? They will have experience in this matter.
 
So what happens if one of you die, the survivor remarries and then suffers a catastrophic injury or illness that suddenly requires a lot of money to finance treatment or care?

It's usually a terrible idea to attempt to micromanage family affairs from beyond the grave.
 
It's great that you are thinking about how best to ensure your children are looked after in future. This is something your solicitor will be able to advise you on. However, unless you are talking about setting up some kind of trust, the short answer is that you will just have to trust each other to look after the children fairly if this does happen. Bear in mind that if one of you dies and the other subsequently remarries, that marriage will revoke the pre-existing will anyway. So if either one of you, at some point in the future, is on the cusp of remarrying after being widowed, it's at that point, rather than now, that the survivor will have to talk in detail, with the new spouse, about exactly what will happen to your property after you die. This may involve, for instance, you and the future new spouse making wills and waiving statutory rights to part or all of the other spouse's estate. Hope this assists.
 
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