Buying with husband/wife - Joint Tenants or TIC better?

Discussion in 'Legal Issues' started by thesuperman, 5th Dec, 2019.

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  1. Hetty

    Hetty Well-Known Member

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    @Terry_w if in TIC then goes through the will to the kids, would the spouse have much of a family provision claim, against their own children? Given children would generally need the money a lot more. Also if the spouse is given a life interest in a property, would that lesson their ability to make a family provision claim?

    Questions just for interest, I don’t think my husband would claim against our kids!
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    It will depend on the circumstances. Any eligible person can make a claim and and this would include spouses. But whether they would get anything awarded to them will depend on a number of factors such as other assets, benefits during a life time, needs, living expenses etc.

    There are a fair few cases of children suing parents and vice versa.
     
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    It depends...means get personal advice. The medicine your neighbour takes may not help