Adding names to title deeds avoiding probate

Blueyboy

My mother owns a property outright, and a second property with a mortgage as a buy to let. She is currently on end of life treatment, expected to live only for a couple more months. My brother and I are to inherit equally, and have been advised to take out power of attorney, which has just been done. We have also been advised to add our names to the title deeds of the property which is owned outright, to avoid the property going into probate. My brother disagrees with this advice. Can anybody help?

ValHaller

Power of Attorney is a legal device intended to allow you to help your mother. It is not a means for Attorneys to make things easier for themselves when getting hold of the estate.

Is the will in order? Then rely on that. Otherwise if mother is still capable, let her do a will. Or you will just have to rely on the laws of intestacy.

And under no circumstances use the Power of Attorney to alter the distribution of the Estate in any way shape or form.

00ec25

what are you trying to achieve in respect of "probate"

a) if she gifts ownership to you now then it will still be part of her estate for Inheritance Tax purposes as transfer will be within 7 years of her death

b) if you want to sell quicker because you are already an "owner" then why go to the legal/Land registry fee expense of a transfer in the first place, just sell it under probate as part of the estate

c) if neither of you plan to sell, or one plans to buy out the other then, then again there is no advantage to being an owner before the probate process

getmore4less

Blueyboy wrote: »

We have also been advised to add our names to the title deeds of the property which is owned outright, to avoid the property going into probate. My brother disagrees with this advice. Can anybody help?

When people tell you this ask why they think this is the best/good action in detail get them to back up their advice.

It may be their experience has no relevance to your situation.

One thing you must do is try to keep a relationship with your brother so the same applies discus the pros/cons of various actions in light of the situation and where you see things going forward.

top of the list

TALK about how you see your mother through this difficult time EOL care can be traumatic.

G_M

If you use your POA to benefit yourselves you will be acting unlawfully, and could end up in prison.

And what is the benefit. Just go through Probate in the usual way and you will inherit. Yes, theremay be some inheritance tax, but even if mum gifts you the property (or a share), there will still be IT unless she lives for 7 years!

Mojisola

When Mum died, her estate didn't have to go through probate because everything was held in joint names with Dad.

Has the person who recommended it had experience of this or it is a professional making the suggestion?