Rights of Occupation

A right of occupation is a right to occupy a property for a specified period. This right can be for anyone whether they currently live with you or not.

Imagine you have three children, two of them are in their 30’s with their own homes and one is in their 20’s still living at home. In these circumstances, it may be appropriate to incorporate a right of occupation for your youngest child to say that they can live in the property for a period of 12 months following your death in order to allow them to get themselves sorted. This right of occupation can be subject to certain conditions, such as them having to pay all bills, outgoings and insurance.

Many people in second marriages or relationships often find a right of occupation a way of meeting their wishes. Imagine you have a property owned by two partners, one partner dies leaving everything to their spouse. The spouse can then do what they want with the property, they can sell, spend all the money, get remarried, leave the property to someone else, the list goes on. This could mean that the partner who passed away’s children never receive any inheritance. Instead, a right of occupation could be set up to state that the remaining spouse can live in the house for the rest of their life but when it is sold the partner’s share of the property goes to their children.

Trusts can be very complex documents but can also be essential in order to ensure that the best possible solution is offered, meeting all your concerns. It is essential to take professional advice before entering into a trust as there can be tax implications of placing assets within trusts.

For more information, download one of our helpful guides.

Alternatively, give one of our wills and probate solicitors a call on 01302 341414 (Doncaster) and 0114 272 1884 (Sheffield) and our friendly team will be happy to have a chat with you.

What other types of trust are available?

There are numerous types of trust available, the most common types are: