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Peter Davidson, aged 36, lives with his wife, Juliet Davidson aged 40. They currently have 2 children together; Louise aged 18 and William aged 14 who is disabled. Juliet has another son from a previous marriage, Benjamin aged 23.

Their residential house is owned jointly, and they have a rental property which they also own jointly. Peter’s and Juliet’s Estate is worth £600,000 in total, including all the assets and savings they have.

What are their wishes?

• To appoint guardians for William
• Once they have both passed away, they wish for their house to be left to their children in equal shares
• The would like the residue of their Estate to pass to each other and then their children
• They would also like to leave some provision for any grandchildren they may have in the future

What were their concerns?

• They are concerned that William’s inheritance could be used for medical expenses and could affect any benefits he may receive
• They do not feel William will need the money due to his condition so if the money is not used, they want it to go to any
grandchildren on Williams death
• Juliet is concerned that her son Benjamin may be disinherited
• Peter is concerned that his children could lose out by his half of the Estate being diluted by Benjamin

What Would We Recommend?

With regards to both Wills, we would advise including a Property Trust within the Wills to accommodate their wishes for their
residential property. This will allow each to live in the property after first death and the named final beneficiaries of the Trust will be Benjamin and Louise. The ownership of the property will be changed to tenants in common to allow them to stipulate this within the Will.

A Discretionary Trust would also be recommended to accommodate for the needs of William’s share of the Estate. As long as William does not receive an income from the Trust his share will not be means tested against and will not go towards any medical expenses. The Trust will be managed by the trustees named within the Will.

We would also recommend including a Half Property Trust within Juliet’s Will to give Peter the right to the income from the property until he wishes to end the Trust or when he passes away the named final beneficiaries of the Trust will be Benjamin. This will protect Benjamin from being disinherited.

We would also recommend they both create Property and Financial Affairs LPA’s to fully protect their assets and family.