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UKfamsol
UKfamsol, Family Solicitor
Category: Family Law
Satisfied Customers: 560
Experience:  Very experienced specialist family law solicitor, qualifed in 1994
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my mother owns her house she is 85yrs young my daughter live

Resolved Question:

my mother owns her house she is 85yrs young
my daughter live there with her husband for past 20 yrs
question is if she dies would we be forced to sell the property or have we to find the
inheritance tax house would be valued at approx £450000
Submitted: 2 years ago.
Category: Family Law
Expert:  UKfamsol replied 2 years ago.
Hello and thanks for your question.

I need a bit more information to be able to answer:

Is the house in your mother's sole name? If not, whose name(s) is/are on the title deeds?

Has your mother made a will, and if so, who is she leaving her estate to?

Is your father still alive? And if so, are your parents married?

Is there any mortgage on the house, and if so, how much is it approximatelly?

Do you have any brothers & sisters, and if so how many?

Am I right to assume your daughter and her husband pay no rent to your mother?
Customer: replied 2 years ago.

father died 30 yrs ago mothers

estate goes to me the son

no mortgage

nil no brothers or sisters

they do pay bills no rent book?

Expert:  UKfamsol replied 2 years ago.
ok - thanks for the extra info.

There will be IHT to pay. The threshold for IHT is currently £325,000, so the executors of your mother's estate will have to pay IHT on the value above that. ie (assuming that there are no other assets) £450,000 - £325,000 = £125,000. IHT is currently 40%, so 40% x £125,000 = £50,000. If you are the executor, then it will be your responsibility to pay this to HMRC - but how you raise the money is up to you. You could for example pay it from your savings or take out a loan or small mortgage or...etc. And if the house has been left to you, then you can choose what to do with it - whether to sell it or whether to allow your daughter and her husband to continue to live there, with or without paying rent.

The reason I asked whether or not your daughter & her husband paid rent, was to see if they could potentially challenge the will if your mother left them nothing in her will. By living rent-free, your daughter and her husband do have an argument that they were being financially supported by your mother, and that does potentially give them a claim against the estate. I'm not saying they would do that or even that they should, I'm just letting you know that it is a possibility.

If your mother would like to reduce the amount of IHT payable after her death, she could consider leaving money to charity in her will, as these gifts are exempt from IHT and reduce the value of the estate on which IHT is payable.

I hope this helps and I wish you the best of luck.

Thanks and best wishes...
UKfamsol, Family Solicitor
Category: Family Law
Satisfied Customers: 560
Experience: Very experienced specialist family law solicitor, qualifed in 1994
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