In our weekly series, readers can email any questions about their finances to be answered by our expert, Rosie Hooper. Rosie is a chartered financial planner at Quilter Cheviot and has worked in financial services for 25 years. If you have a question for her, email us at money@inews.co.uk.
Question: My long term partner and have been together for more than 30 years. She has supported me through cancer plus other health issues. I wish to leave her the vast majority of my legacy.However her kind, compassionate nature has frequently been taken advantage of by her brother. My partner has twice remortgaged her property to help fund them and her family, so even though she has a fairly well paid job she only has a small flat with a mortgage remaining. How can I leave her my legacy whilst ensuring the sibling will not take advantage? Is it expensive to set up and run a trust?
Answer: What is clear to me from reading your letter is how much you love and value your partner. She has supported you through cancer and decades of life together. After more than 30 years, it is understandable that you want her to receive the vast majority of what you leave behind.
Your concern is also understandable. You are not saying she is careless with money. In fact, it is almost the opposite. You are worried that her kindness has been used against her before and that a significant inheritance could make her vulnerable to pressure again.
