Decision made - We are going for a protective property trust. This is a trust written in to the will where, when one partner dies, half the property goes into trust for the offspring or whover else you nominate. This has the advantage of taking that section of the property out of the estate so it is not classed as an asset of the surviving partner although they are entitled to live in it for the rest of their days. When both pass away, the trust becomes the property of the remaining trustees. Other advantages are that you can still raise capital on it, you can move house and the trust is not subject to probate. I have taken advice from a solicitor who had nothing to gain or lose with the advice.

Alan - You raise an interesting point. I know that property laws are different in Scotland so I would be interested to know about that for a friend of mine who lives north of the border.