VIC Entering a defacto relationship and buying together

[Wendy Roberts]

My partner and I are building a house together and have grown up children from other relationships. We would like to get our wills sorted before actually moving in together. The plan is that we would both leave our share of the property to our respective children upon our death, but the house cannot be sold until both re deceased, that way one of us is not left homeless. However, where not sure what happens if one of us needs to be put in a nursing home, ie the last one surviving has a stroke and needs to be put in a nursing home and they want payment. In a lot of cases people end up selling up and their house and this pays for the nursing care, but this is not fair on the children of the partner who is not in care or has already passed on.

 

[Lance]

Hi Wendy,
You probably should talk with a lawyer because it can get very complicated.

 

[Matthew Karakoulakis]

Hi Wendy,

It is possible to create a future interest in property by way of remainder. An example is: To my husband X for life remainder to our children in fee simple. In this example, after X's death, the children of the deceased couple will take the estate in possession.

Moreover, it is also possible to create future interests subject to conditions.

We can assist you in formulating a will and/or clauses for a will appropriate to your present circumstances.

Feel free to contact AMK Law on [email protected] or [email protected] to arrange a time to discuss your situation.