Flexibility is often the key to a successful step-family. But how do you continue to look after all parties when you die?
Having a properly drafted will allows you take account of potentially competing interests and look after all members of your family when you no longer can. The appropriate use of trusts of a family home can allow for continued occupation whilst capital value ultimately passes to your own children.
A will is the ideal place to appoint a guardian. This might be your partner who, unless they have adopted your child, will not have parental responsibility.
Appointing the right trustees for your children's future will also ensure that their money is protected.
Often the step-parent and children act together as trustees so that all parties have an interest in dealing with your affairs.
Your will needs to be tailored to your circumstances. Emsleys was recently awarded the Law Society Wills and Inheritance Quality Scheme excellence mark, so clients know that their individual instructions will be carried out according to their needs.
If you would like more information, give our Wills & Probate team a call on 0113 201 4900 for a no obligation chat, or email us at email@example.comBack to Blog