Criminal

Family

Wills, Probate & Trusts

Employment

Conveyancing & Property

Immigration

Personal Injury

Consumer

Company & Commercial

Libel & Defamation

How to Appoint a Legal Guardian in your Will

Choosing an Executor for Your Will

Being an Executor or Administrator of a Will

How to Ensure Your Children Benefit from Your Will When Getting Remarried?

How to Get a House and Contents Valued for Probate?

How long after a person dies will beneficiaries be notified?

What Can Make a Will Invalid?

Beginners Guide to Probate

Revoking a Will

The Dangers of Making a DIY Will

Things to Consider Before Making a Will

What Will Happen to My Pets if I Die?

How can I find out if my Aunt had a valid will when she died? LocalSolicitors.com

My aunt died two years ago. I know she made a will at an attorney in Yeovil Somerset. I helped her draft the initial copy...

As your father died without a Will all of his assets including his home if he owned it would pass to all of his children in equal shares (assuming he was divorced or widowed).

It is possible that your father transferred assets to your sister before he died however you need to establish what has happened.

We would be willing to act on your behalf.

Martyn Brown

Solicitor

Integrum Law

Mbrown@integrumlaw.co.uk

Inheritance question?

It is unclear from the question whether your intention is to put the property in trust now in your lifetime or to do so when you die in your Wills. If you do so now and you still live in the property you would need to have a tenancy agreement and pay market rent otherwise you would still have a beneficial interest, which would affect your intention of gifting the property. If you gift a property and do not retain an interest then it would be classed as a lifetime gift and provided you survived a minimum of 7 years no inheritance tax would be payable. Within 7 years it would be payable on a sliding scale as a potentially exempt transfer. This may have other tax implications for family members such as income tax on any rent paid and CGT when sold, it could also affact any benefit claims they may have. There can be family disagreements relating to such arrangements so it is always best to discuss with a solicitor/financial advisor in detail before deciding.

You can put a property in trust in a Will, this is usually now done as a means of splitting the parent's estate in half to protect against possible care home costs but is not usually done now to save inheritance tax.

Can we we put our property in trust for our daughter and grandchildren and what are the implication of inheritance?

Robert Simpson

My aunt died two years ago. I know she made a will at an attorney in Yeovil Somerset. I helped her draft the initial copy...

undefined Solicitor Answers

Related Questions