Residential property lawyers in Jersey explain why you need a Will when buying a home

Residential property lawyers in Jersey explain why you need a Will when buying a home

 

A house or flat is often the most expensive purchase anyone will make and most of us will want to ensure that our nearest and dearest will benefit when the inevitable happens. Making a Jersey Will is therefore an important consideration.

Real or Immovable Estate is Jersey Freehold or Jersey Flying Freehold property and Personal or Movable Estate covers everything else, including property owned by way of Share Transfer. Different Jersey Wills are required for each and stringent rules apply to ensure a Jersey Will is valid and effective. Therefore making a Jersey Will is an important consideration when you purchase your new home.

If you pass away without making a Jersey Will, the Wills and Succession (Jersey) Law 1993 will determine who will inherit your Estate.

If you have bought with your partner jointly and for the survivor of you then, on your demise, your partner will take sole ownership of the property. If you have children together then ultimately those children may inherit upon the death of the survivor.

However you may have children from different relationships, step children, a partner to whom you are not married or grand-children and careful consideration will need to be given to ensure that the interests of all parties are protected in the way that you want.

If you leave things to chance it may be that those you want to benefit from the property you have worked hard to acquire will not do so in the way you would have liked. It is therefore important to invest a little time in ensuring all is in order and making a Jersey Will.

Please note that the information provided on this website is for general information purposes only and is designed to provide you with an outline of the legal services we offer. Whilst we endeavour to ensure our information is correct and useful, we make no representations or warranties regarding the accuracy or completeness of the information offered. Information on our website does not constitute legal advice and Parslows Jersey accepts no liability for any loss or damage arising out of, or in connection with, the information found in this website. Please consult a lawyer at Parslows Jersey in the event that you require professional assurance that our information, and your interpretation of the same, is correct.

For further advice please contact Parslows on 01534 630530 or click here.