Quote Originally Posted by Re-sign Carl Dale View Post
Yes - the last part is correct, in that the property is protected, although potentially a charge from the LA could be put against the surviving spouses' 50%

You are also right about it being a nightmare (plus other tax complications) for a house to be owned 50% by widow and the rest amongst the children. Aside from any issues about wanting to sell, if someone gets divorced, what was mum & dad's home would be part of the settlement!!!

More common would be to use a Trust - that's what we do for our clients. Simply put, when one partner dies, their half of the house goes in Trust for the children, however the condition is that the surviving spouse lives there (rent free) for the rest of their life. The children don't have any control / access until both parents die. This solves any tax issues, and it's not part of the estate of the children in the event of family breakups, bankruptcy etc.
It was too late to go down the Trust route. I did consider it (after a conversation with a fellow Bluebird in the Canton!). No way mum would change her will. Trusts are very much long term and, as you say, take control away from the eventual beneficiaries. I'm sure I read somewhere that a Trust, set up shortly before someone dies, could be seen as tax evasion by HMRC. Plus the issue of what happens to the Trust assets if the beneficiaries pre-decease the surviving parent. Tricky.