Father's Will

[AndSoFinally]

I've posted this in the money topic as well, but might be more appropriate here?

My father is dying. He didn't intend to make a will as my mum and him are married and he wants everything to go to her. We've talked in the past about them signing over assets to my sibling and I, but didn't get around to it and then my father became ill so (I'm guessing) it would have been considered deprivation of assets, and do we didn't bother.

My mother is also ill (although not dying) so couldn't sign over any assets either.

My father is now considering changing his mind and making a will. He wants to change the deeds on their house so that he and my mother are now tenants in common rather than joint tenants (is that the right way round?) and to leave his half to my sibling and I.

Is it possible to change the way they own the house like this? There is no mortgage any more. If he were to do this, would this achieve the aim of "ring fencing" his half to save it from any care home fees that my mum might accrue? I know people have varying opinions on this, but her half of the house would obviously still be used to pay her fees if this were needed. They don't have a lot. The house is only worth about £180k so no inheritance tax.

Would my mum need to pay us rent if we did this or would it not matter?

Their whole financial situation is a complete mess, but just wondering if this would even be possible? Thanks in advance for any help

Yes, it is very easy to change from joint tenants to tenants in common. The sensible thing would be to give your mother a life interest in his half of the house with it then going to you and your sibling on her death. That way there would be no questions about rent or her right to continue living there. You and your sibling would still inherit, and your father's half of the house could not be used for care home fees.

Yes, DH and I have done this. It worked exactly as you describe. A solicitor did our wills. Your dad’s solicitor just needs to get the Land Registry entry changed from joint tenants to tenants in common.
No your mum would not have to pay rent, he can stipulate that she can live in the house for the rest of her life as though it was hers. It’s all written into the will in legalese.

Thanks very much

There is an excellent Will writer on here mumblechum who did this exactly for my parents
her company is called Marlowe Wills

one thing to remember which I didn’t know at the time that if it’s a lifetime possession trust created by the will
when your dad passes away you have to register the trust with HMRC - you have two years from the date of death to do this otherwise you can get fine by HMRC

I wasn’t aware of this and had to get an accountant to do this for me recently which has cost a few ££ but rather that than dealing with HMRC on my own .

Also if you are named in the will as trustees of your dad half of the house
once he has passed away you need to update the land registry with this as well to ensure that should your mum remarry your dads half is safe .
But by doing this your dads half is safe from care home fees for your mum

again I used a solicitor to do this cost about £200
I could probably have done it myself for free but wanted to make sure it’s right .

also if your a trustee of your dads half and on the deeds your legally the owner of that half but not a beneficial owner .

if either of you are a trustee and a beneficiary of the will when your mum passes away you won’t be able to get the 0 council tax discount while sorting out probate because one of you is the owner/ beneficiary on the deeds

if only one of you is the trustee and not the beneficiary then you can get the 0 discount on council tax
depending on how long it takes to sell the house this can easily cost 200 a month in council tax

also you won’t be classed as a FTB either if you are the beneficiary of the property / will

my son who is the beneficiary of my parents will which is the house isn’t a ftb despite never being on the deeds of the property .

This is all stuff I’ve discovered recently while sorting out my parents estate 😂