Selling Mums house with brother in situ

TBagpuss

silvercar wrote: »

While Mum is alive an LPA means that you do as she would have wished, had she been capable. Arguably that means spending on brother.

Once she is no longer alive, you as executor would comply with the will.

There is the intermediate stage, between death and probate, where you brother would have not yet had inheritance but have no income.

How much equity is in the property, after the equity release company get their share including any interest etc?

the bolded isn't quite right. When you are acting under a power of attorney you have to act in the best interests of the donor. That can include things such as giving gifts where there is a clear precedent, but you also have to consider whether that's in Mum's best interests - which would means that things such as her other financial needs would be relevant.

OP, if you wanted, you could talk to your mum about naming her solicitor as her attorney. It would be more expensive but would create a buffer state between you and your brother, and if you aren't bothered about the money you could consider that.

Longer term, it is possible that your brother could make a claim under the inheritance act but it wouldn't be a foregone conclusion.

One of the factor that has to be considered with that kind of claim is the impact on other beneficiaries if the claim is allowed, as well as the extent to which the claimant 'needs' the money - the test is whether the person who made the will made 'reasonable provision' for the claimant.
I think that it would be much harder for someone who was one of 2 children and who was left 50% of the estate to argue that, than in a case where a child was cut out completely.

moneyistooshorttomention

GDB2222 wrote: »

indsty wrote: »

The OP said he is psychotic.

Even if everyone refused to employ him - then he could (and should) still claim benefit rather than leach off his mother and make any attempt to claim OP's share of the inheritance (just because of a possible twist in the law that might allow that).

I wouldnt take it as being "a done deal" in OP's position that he would be able to mis-use the law to claim he should have any of OP's share (on the grounds he is being supported by mother currently). I would certainly investigate whether "being supported" is something that would only apply to someone would expect to be being "supported" (ie someone not old enough to hold down a job or too physically ill to do a job). Even with "too physically ill to hold down a job" - someone is still capable of claiming benefit in lieu of a paypacket.

In OP's position - I'd be holding discussions with the firm the equity release scheme is with come the time and letting them know they had my full backing to get their share out of the estate and I was supposed to have 50% of the balance and arranging with them to do so.

Davesnave

moneyistooshorttomention wrote: »

In OP's position - I'd be holding discussions with the firm the equity release scheme is with come the time and letting them know they had my full backing to get their share out of the estate and I was supposed to have 50% of the balance and arranging with them to do so.

I doubt if they'll care be interested in that discussion. Where the surplus money goes is of no concern to them.

They have a charge on the house and they'll start applying interest to it at a high rate from the date of death.

It's win:win for them, however it goes, Sorry.

AdrianC

clairecmitch wrote: »

She is getting frailer but I know she will refuse to go one home.

It may not be her choice. If she is admitted to hospital, and they will not release her to return to live in her own home, then what? She stays in hospital?

I think I'll cancel the lpa

You would simply not act under it.

Does your brother also hold PoA over her finances?