Joint tenant with mum - does she need to make a will?

freeasabird

I have a mortgage as a joint tenant with my mother. She has always buried her head in the sand and won't make a will yet. If she doesn't make a will, will the property automatically go to me after she dies? This property is my only home on which I pay all of the mortgage. Does that also mean I don't have to pay inheritance tax?

freeasabird

I've edited the post because I didn't make myself clear. Sorry.

EdInvestor

Who owns the property? What name(s) are on the title deeds? If both, do you own the property as "joint tenants" or "tenants in common" ? If the former, you will automatically inherit the property when she dies or vice versa, no need to make wills, and no IHT..

freeasabird

My name and my mum's name are on the deeds. We own the property as joint tenants.

EdInvestor

No problem then.

sandraroffey

but she should still make a will, as should you!!!!!!

freeasabird

EdInvestor wrote: »

No problem then.

Thank you. One other question, if my mum went into a care home. (I'd die before I let that happen but you never know what circumstances life brings you. I'm not always that well myself). Do I have to sell the house to provide for her care? I want to make sure she gets good care but it would be a bit of a struggle to sell the house and find somewhere cheaper especially as it's not an expensive property.

McKneff

Do you have any siblings or father

freeasabird

anniehanlon wrote: »

Do you have any siblings or father

Hello,

My father is dead and I do have brothers and sisters. I'm going to make a will but my mother thinks it's a bit morbid and she runs away from anything that involves being financially responsible.

McKneff

We have had this problem in our family. Should your mother die then the house automatically goes to you if your mother died intestate.=. Would you siblings be annoyed that the house would revert wholly to you or are they aware that this will happen.

monkeyspanner

I think you need to clarify your position. The Local authority could try to put a financial charge on your mother's share of the property if she had to go into a care home. This is further complicated in that you are paying the mortgage on the house, this means that although you are joint owners you could be considered the beneficial owner of a larger share of the property dependant on your relative contribution to the purchase. There are certain circumstances where the LA would disregard the value of your mother's share of the property, one of these would be if you were 60 or over iwhen your mother needed a care home.

There are some good fact sheets here:
www.couselandcare.org.uk

The treatment of assets in relation to paying for care home fees are covered by CRAG rules (charging for residential accommodation) which you can find here:
http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_073650?IdcService=GET_FILE&dID=138222&Rendition=Web

You may also find charities like Age Concern can also help you.

I hope this helps you clarify the position.