Property in trust will

For a couple who own property it is fairly standard to either buy it as tenants in common or, if held jointly to sever the tenancy and create tenancy in common, where each party owns a share (usually half each) of the property(s).

Each then has a Will drawn up including a property trust giving the other the right to live in the property after the first death (and in a well-drafted Will the right to downsize etc.). The right to occupy could be for a fixed term, to give time to find somewhere else to live, or for life (or until they go into care permanently). After the second death each share passes under each Will. This makes sure at least your half is guaranteed to go to the people you choose, even if the other person remarries and changes their Will.

The pros are that at least half of the property will go to the people you choose and vitally that your half of the property will not be used to pay care costs if the other owner needs care after the first death. If concerned about divorce, bankruptcy or spendthrift tendencies of the children you can use a discretionary trust.

The only downside is that it obviously costs more than a basic Will or I would not recommend trying to DIY it.

Thats a really helpful explanation iaincam as this scenario applies to my husband and I, we've put off doing wills because it just seemed too complicated but it needs to be done ASAP.

Tanith, glad to have encouraged you to finally make a Will. Traditionally they were written in deliberately opaque legal language, so that the executors had to use a solicitor to translate it back into English when the time came to use it. This should not be the case nowadays; a well written Will should tell the executors exactly what they need to do. They may well choose to use a solicitor to do all the paperwork, but they should at least understand what is involved.
Unfortunately not all solicitors are competent will-writers! Look for a firm with the Law Society Wills and Inheritance Quality Standard (WIQS) or one displaying the Society of Trust and Estate Practitioners (STEP) Will Writing Code logo.
If you choose a firm of unregulated will-writers make sure they are members of the Institute of Professional Willwriters (IPW) as they will at least be insured. If you are in the South West or South Wales message me privately for a discussion and fixed fee quote.

Thankyou for the advice iaincam, I'm not in your area.
I just took a look at those societies mentioned and searching in my area , could I just ask do I need to look for a will writer, a trust officer or a solicitor/lawyer I'm a little confused by the list of professions they have on the site, to search you need to enter a profession and I assume all those I've named would do the job but which is best?
Thanks.

Solicitor/Advocate/Lawyer will be legally qualified, a will-writer might not be, but will still be competent in will-writing if the have the STEP Advanced Certificate in Will Preparation qualification. A trust officer would deal with the administration of an estate after death.

Thats really helpful thank you..