Dad's will, stepmum, house, new Care law

mumoftwins

Hi,Dad died last November leaving 1/3 of the value of his and stepmum's house to my sister and I with no timescale on when we would gain our share of the property.


With this new idea from the Conservatives that care should be paid for from the value of the home, my sister and I are concerned about our share of the house should our stepmum become ill and need residential/nursing care. She has 3 children of her own so my sister and I feel that any care costs should come from their 2/3 of the house. We would like to protect our 1/3 against her children using any for care costs for their Mum, how can we do this please? Any advice?

pmlindyloo

mumoftwins wrote: »

Hi,Dad died last November leaving 1/3 of the value of his and stepmum's house to my sister and I with no timescale on when we would gain our share of the property.


With this new idea from the Conservatives that care should be paid for from the value of the home, my sister and I are concerned about our share of the house should our stepmum become ill and need residential/nursing care. She has 3 children of her own so my sister and I feel that any care costs should come from their 2/3 of the house. We would like to protect our 1/3 against her children using any for care costs for their Mum, how can we do this please? Any advice?

Not sure how your dad can leave a third of his and your step mum's house to you.

How was the house owned between your dad and step mum? Joint tenants? Tenants in common - if so, in what shares? Or was it solely owned by your dad?

As regards paying for your step mum's care costs if your and your sister's share is registered (for instance as tenants in common with your step mum) then it is only your step mum's share that would be assessed for care costs.

All sounds a strange arrangement so a bit of investigation as regards the wording of the will and ownership of the house is needed.

mumoftwins

Hi pmlindyloo,

Yes they were Tenants in Common (she put more into their first purchase than he did), the split is 2/3 to her kids and 1/3 to my sister and I

Yorkshireman99

mumoftwins wrote: »

Hi pmlindyloo,

Yes they were Tenants in Common (she put more into their first purchase than he did), the split is 2/3 to her kids and 1/3 to my sister and I

It depends on the exact wording of the will. What does it say that your stepmum's right to live there? No care costs can be taken from your portion.

pmlindyloo

So have the names on the deeds been changed to reflect the new shares?

ViolaLass

IF one third of the property legally belongs to you, why do you think the state will try to take money from that third for your step-mother's care?

getmore4less

if you have been given the 1/3 but she has a right to live there then you are only beneficiaries of an interest in possession trust.

Who are the trustees?
They are responsible for protecting your future beneficial interest.

mumoftwins

Violalass, we have a stepbrother who is a solicitor and will have the best interests of him and his siblings at heart and is already trying to 'pull the wool over over eyes' regarding its valuation. There is nothing in the will to say when the house should be sold but they are trying to buy us out at a much lower price than the house is worth but we are addressing that.

It's more a case of if we wait until she passes then would this new Dementia tax affect our 1/3 of the estate?

Linton

The government can do anything Parliament lets it do, but confiscating one person's property to pay someone else's debts isnt something that is at all likely to happen. It would probably be struck down by the judges as being against whatever Human Rights Act is in place at the time.

p00hsticks

mumoftwins wrote: »

Hi pmlindyloo,

Yes they were Tenants in Common (she put more into their first purchase than he did), the split is 2/3 to her kids and 1/3 to my sister and I

If they were tenants in common then each owned a proportion of the house - usually a half each. You father could only will his half of the property - he can't say what happens to his wifes half.

So when you say you and your sister own a third - do you mean a third of his half - so you actually own a sixth ?

elsien

There isn't currently a dementia tax, and manifesto promises have a tendency to vanish or change twixt election and parliamentary votes. It's too soon to be planning for something that's already had one u turn take place.