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Thanks for your question. You can enter into a formal variation of the will. That is usually done for tax purposes and is called a Deed of Variation and is entered into within 18 months of the death. What you are doing here is relinquishing the right to stay in the house and using the funds to buy a retirement home on the basis that it will be sold in due course and the proceeds divided. There is nothing to stop the family entering into an agreement to that effect but you should have a formal agreement drawn up so that there is no doubt what is being agreed. That is to protect the interests of all of the family members. I hope that helps. Please leave a positive rating so that I am credited by JustAnswer for helping you today.