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joannem1965
joannem1965, Advocate
Category: Law
Satisfied Customers: 264
Experience:  I am a solicitor
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Hello, My 85 year old mother ( widowed ) and myself also widowed

Customer Question

Hello,
My 85 year old mother ( widowed ) and myself also widowed have decided to sell our two houses and live together. her house is valued at approx. £500k and mine £350k.
Her will states that her estate will be divided 50/50 between my brother and myself.
She now want's to change her will and put the house in my name so I don't have to sell when she dies ( I am aware of the inheritance tax implications ish!!!!) Suprised when she told me but I don't feel guilty as he lives away and I have looked after Mum for the last 16 years.
Please could you advise on this situation.
Jane
Submitted: 3 years ago.
Category: Law
Expert:  joannem1965 replied 3 years ago.
What would you like to know ?
Customer: replied 3 years ago.

Is it ok to change her will in favour of me, also how would inheritance tax affect me if the house is my name and she dies.


Sorry to seem hard but I need to secure my future as well as hers.

Expert:  joannem1965 replied 3 years ago.


Once the house has been your name for more than seven years
then it is out of the equation for the purposes of Inheritance Tax.

If your mother dies within that period, then it is on a
sliding scale in the last five years and 100% in the first two years.



It only applies to the value your mother put in.



She can change her will in favour of you however one of the
things that she should not do is exclude your brother otherwise he will have a
claim against her under the Inheritance Provision for Family and Dependents Act.



I would strongly suggest that she speaks to your brother
about this to avoid any confusion in the future.



I would suggest that if she writes will, you do not take to
the solicitor and someone else does so that there can be no allegation that you
influenced her in any way.



Can I help you any further with this today?

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