We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Care Fees Deferral
Comments
-
Thanks again Xylophone for this very clear and helpful advice. There is not way my friend could get a mortgage for the amount of money involved, so it looks like there will have to be sale. But that could take a long time for all the reasons you mention and with Covid on top. So long as my friend couldn't be forced into a quick cheap sell.0
-
I have just seen your post above concerning the marital situation of the sister.
With regard to the sister's marital home, regardless of whether or not she is on the deeds of that property, it is still an asset of the marriage and must be taken into account in the divorce settlement as must all marital assets, that is to say the assets of both parties.
The sister now has another asset - her 25% beneficial interest in the parental home which will also need to be taken into account in the divorce settlement.
Time for both sisters to take professional advice from a solicitor?
3 -
Depending on the length of the marriage, the starting point for any split is 50/50 to include the assets of both parties including property, savings and pensions regardless of whose names they are in. Figures can then be varied according to circumstances (such as dependent children) and agreement. The sister should make sure she gets proper legal advice about this.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.2 -
Thanks again guys for this. What a mess!0
-
What a mess!
Your friend can be grateful that her parents held the property as TiC and that the beneficial interest (in each case, I assume) was not left to the other spouse.
Had it been, then the whole of the sale proceeds of the property would have been Mother's....
Will there be any IHT to pay?
Is your friend the executor of her father's estate? She should remember to take into account the residential nil rate band for Father as he left his share to his direct descendants.
1 -
xylophone said:What a mess!
Your friend can be grateful that her parents held the property as TiC and that the beneficial interest (in each case, I assume) was not left to the other spouse.
Had it been, then the whole of the sale proceeds of the property would have been Mother's....
Will there be any IHT to pay?
Is your friend the executor of her father's estate? She should remember to take into account the residential nil rate band for Father as he left his share to his direct descendants.
0 -
Depending on when dad died and where sister was in the divorce process at the time, it may not be included as a marital asset. But as xylophone said, legal advice needed.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards