How can you leave your property to your children but allow your new partner to stay living in the house? By using a Property Will Trusts for 2nd marriage

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We may be feeling sad that we were not able to meet up with friends and family in the usual way over Christmas.  However, it’s not always as fun and cosy as we think. January traditionally sees an increase in calls to solicitors about divorce and making changes to wills after family break ups, and lockdown has resulted in higher rates of separation and divorce.

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2020 has been dominated by the Covid-19 pandemic.  It's affected us all in one way or another.  Neither military power nor wealth has been able to stop the destructive global spread of this tiny member of the Coronavirus family. Its full human impact and economic cost will not be known for some while to come.

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Whilst the majority of the country remains in lockdown due to the Covid-19 pandemic, many people are continuing to seek constructive ways to fill their time, from putting their financial affairs in order, reviewing life insurance or savings & pensions to arranging Wills and Lasting Powers of Attorney. Many legal services companies including APS Legal & Associates remain open for business as usual, albeit remotely.

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Myth: All your debts will be written off when you die

Mortgages, loans, credit cards, car finance…..whatever the debt, there’s a myth where people think their debts are written off when they die. But that’s not the case.  Any assets you had before your death, including any properties, savings and valuables, such as jewellery, car, etc, will be used to pay off any outstanding debts. Your partner, children and family or anyone else you’ve left your estate to, won’t get a penny until all of that debt has been paid. This is the case whether or not you have made a Will.

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