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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10455
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Hello, my husband wants to add my name to our deeds - I wasn't

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Hello, my husband wants to add my name to our deeds - I wasn't twenty one when we bought our house. Mortgage paid up. Recently had a visit from a financial advisor whom we invited, hadn't met before. He said ideally we should have 1st and foremost a POA in place for each other as I am in a very difficult position. I am 66 my husband nearly 73. We do have a will leaving everything to each other. We have 5 grown up children and a 16 year old grandson who has lived with us since 5 months old. He suggested witnesses but we dont know what cost to have all 5 or just 2 or which will offer me or both of us most security if death isn't first factor. hope you can help ,
Brenda
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

Hello and thanks for using Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

You should contact a local Wills Solicitor who can prepare a Lasting Power of Attorney (LPA) for you both. This document grants another family memeber to look after your financial affairs in the event of you losing mental capacity. You can of course discuss matters with your Solicitor, but you may wish to appoint each other, or in the event of that not being practical, appoint 2 of your children to act as Attorneys. It would not be practiccal for you to appoint more than 2 of your children as Attorneys- all Attorneys have to sign any necessary paperwork, and you can appoint them "jointly" which means both of them have to decide/make decisions, which gives you more protection.

Unfortunately LPA's aren't tht cheap- probably £350 each, but they do save al lot of extra work, were you not to have one and you did ne

to deal with your husband's affairs at a future date for example.

As regards ***** ***** it is easier if the Deeds were in joint names, and from a Nursing home fee prospective, you can potentially "save" the Government from claiming the whole of the house if the survivor or both of you went into a home. This can be done, by holding the property as what we call "tenants in common" and you can sign a new Will leaving your respective 50% share to your children, as oposed to your spouse, with a proviso that your spouse be entitled to remain living in th ehouse for as long as he/she wishes. This means that if the surviving spouse ever needed to go into a Nursing home, the Governemtn can only treat him/her as owning half of the house when calculating what state help, if any, they are entitled to.

Again, your Wills Solicitor can discuss the above with you, and will also be able to deal with the transfer of the Deeds into joint names, via a Conveyancing Solicitor in his firm.

The Transfer and new Wills ar elikely to cost approximately £400 plus VAT and there will be a Land Registry fee of between £40-£80 depending on the value of your property.

I hope this assists and enables you to proceed. If you need a reputable Solicitor locally, you can go the Law Society website, and type in your postcode. Link-

www.lawsociety.org.uk/FindASolicitor

Kind Regards

AL

Customer: replied 2 years ago.

Thank you Al,

would the children be witnesses to our appointing each other as that is what we thought our adviser meant or would they actually be Attorneys or could that be set up later or would that be more costly or impracticable.

Also if one of us died owning half of the house each and one half being left for the children would that take away the possibility of selling and moving - say down sizing. Could you tell me how much just adding me on to the deeds will cost obviously the land registry would be necessary too. thank you

Regards

Brenda, By the way sorry for delay had to go out earlier.

Expert:  Aston Lawyer replied 2 years ago.

Hi Brenda,

Your adviser must have meant the children should be your Attorneys- if you wer ehappy to instruct a Solicitor to deal with your LPA's, he would act as witness (no Attorney could act as witness).

As regards ***** ***** of the house to the children, your Solicitor would put in a suitable provision allowing the survivor to downsize and use all the Sale monies from your existing property (if you downsized, then whatever was left over would be split 50% to you and 50% to the children).

As regards ***** ***** name on the Deeds, a Solicitor is likely to charge £200- £300 plus VAT (hopefully no more than £250 plus VAT).

I hope this helps.

Kind Regards

AL

Customer: replied 2 years ago.

Thank you,

that is much clearer, just one more small question would the cost of wills be £400 + vat minus the cost of adding my name to the deeds. I am just trying to find the best way forward as money is not easily available.

Kind regards

Brenda

Expert:  Aston Lawyer replied 2 years ago.

Hi Brenda,

Your Wills on their own, should cost approx £200 plus VAT.

Kindest Regards

AL

Aston Lawyer and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Thank you very much you have been very helpful

BrendaLaughing