Mums will

[AJPTaylor]

my dmum wants to give my brother a significant sum of money. i have no issue with this at all. She intends that it will be evened up when she passes away. however, i think she needs to change her will if that is what she wants to happen. is that the case? if so can it be written in such a way that any further money given can be recorded rather than it being redone each time?

She will need to change her will, from what you've said.

Has she considered the possibility of care fees meaning that it's not possible to even things up when she dies?

yes, we are well aware that the "even up" might not happen. luckily me and dsis have managed to hit 50 mortgage free whilst dbro has never bought a house so his need is much greater than ours.

She does need to change her will to include the quaintly named "Hotchpot Clause". This means that any gifts over a certain level, such as £1,000, given to one child, and usually over a certain period before the death, are taken into account.

This generally will result in a balancing payment to the others. She needs to see a will writer or solicitor to go over the details.

fantastic mumblechum. thank you. she is undecided at the moment how much to give so might give it in several smaller amounts . glad she doesnt have to revisit it!

Hi AJP, please re-read my post; she does need to change her will, unless she makes the balancing payments in her lifetime.

These gifts may help to minimopise IHT, if applicable, and if she survives for 7 years after making them.

mumblechum,got it, meant pleased she wont have to rewrite each time she makes a gift once she has the clause in!