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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10635
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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My Mum and I are planning on selling our two properties

Resolved Question:


My Mum and I are planning on selling our two properties and then buy one of us to live in. I am married with 2 children and my Mum has been on her own since my Dad died 4.5 years ago
Mum would like to put 325k towards the new property and i will take out a 275k mortgage
Since my Dad died my Mum and sister have fallen out to such a point that she has been written out of the Will. Which means the latest version of her Will splits her assets 50/50 between myself and her 4 grand children
Question
1. Do I need to add Mum to the deeds on the new property?
2. If she takes out a life insurance policy which will go to her grandchildren, and hence be their half of the 50/50 split in the Will, what legal document needs to be written? An addendum to the Will or something else?
3. Could my sister contest the Will?
Essentially we want to buy a house but at the same time make sure her grandchildren are catered that my sister will not have a claim on the house
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.

and thanks Just Answer.

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

1. If you ar ehaving a Mortgage, then your Mother will also need to go on the Mortgage aswell as on the Deeds. This is because a Mortgage Lender insists that all parties to a Mortgage go on the Deeds and vice versa.

2. If your Mother's Life policy is written in trust grandchildren, which is perfectly normal and easy to do, then these monies from the Policy will pass to them automatically. Therefore, your Mother would need to do make a Codicil (an amendment to her Will), if she does not then want them to inherit 50% of whatever else she leaves in her Estate. A local Wills Solicitor can deal with this and will cost approx £100 plus VAT.

3. Provided your sister is not financially dependent on your Mother, and your Mother has in no way promised anything to your sister/your sister has not done anything to her disadvantage on the understanding from your Mother that she would receive a cash sum/part of the Estate from your Mother, then she has zero chance of contesting her Will. It is always best Mother to put in her Will (or Codicil) the reason why she is leaving your sister out of her Will.

I hope this helps and answers your questions.

Kind Regards

AL

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