The old stereotype family of husband, wife and 2.2 children is a rarity these days
This must be quite a relief for the 0.2 child.
We hope that you will never need our services for separation and divorce but, as complex family relationships are increasingly the norm, couples at the start of a new relationship sometimes consider ways to clarify who brings what to the relationship to avoid complications and acrimony should things not work out.
Hastings are General Practice Solicitors so we are here for Lifetime Advice that takes in to account the bigger picture of your circumstances.
“The best relationship is one in which your love for each other exceeds your need for each other.”Dalai Lama
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A GOOD START
If you are embarking on a new relationship, and particularly if you are buying a property together and one party is contributing more resources than the other, it is sensible if not especially romantic, to have an agreement in place. This could involve taking the title in proportion to the agreed contribution rather than the standard formula with joint and equal title.
If there are other issues than title to a property to be covered and you intend to get married (or civilly partnered) it could be helpful to enter a pre-nuptial or pre-partnership agreement or, if you don’t intend to get married/partnered, a co-habitation agreement. Colloquially these are often referred to as as Pre-nups and No-nups.
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MAKING THE MOST OF WHAT YOU HAVE
When you get together with a significant other you will have decisions to make about where you live. If you each own a property you may wish to sell both and pool resources for a larger home or perhaps you will decide to rent out one property to provide some income.
Hastings are property specialists dealing with both sales and rentals so we can advise on the best strategy for the current market for maximising your capital investment or keeping your options open. For example the effect of the second home charge under the Land & Buildings Transaction Tax (LBTT) on your purchase costs where you have an existing property needs to be considered and budgeted for if buying a ‘second home’.
It is difficult to make generalisations but as General Practice Solicitors we specialise in taking all aspects of your situation into account and advising accordingly.
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REVISING YOUR WILLS
Making or revising your wills is essential whenever your circumstances change.
The notion of co-habitees (common-law spouse is an English term) having equal legal rights is an urban myth. If you are not married or in a civil partnership you have very limited legal rights and would be entitled automatically to nothing from your partner’s estate should your partner die without a will.
If you have step-children or children from previous relationships you will want to consider the implications for them as well. This is a situation where you need specialist advice tailored to your unique circumstances.
Having a legally valid will makes your wishes clear and should prevent family disputes and and problems and tears in the future.