Inheritance

5 Posts

My Sister lives with my mum, she has mental health problems and hidden the fact she has run up alot of debt and a CCJ.
My Mother is elderly and has no will and owns the house outright.
I have one other sibling, we have talked about the future and my mother wanted my sister to live there indefinitely.
We do not object to this but the debt she has run up is more than the share of the house she would inherit.
How do we protect the house from potential charging orders or bankruptcy?
Can we setup some kind of trust, or a will?
Thanks.
My Mother is elderly and has no will and owns the house outright.
I have one other sibling, we have talked about the future and my mother wanted my sister to live there indefinitely.
We do not object to this but the debt she has run up is more than the share of the house she would inherit.
How do we protect the house from potential charging orders or bankruptcy?
Can we setup some kind of trust, or a will?
Thanks.
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Replies
The only alternative is that she is removed as a beneficiary.
our main concern is if she declares bankruptcy after becoming a beneficiary, would that force a sale?
we would not be able to buyout her share right away.
Might be a difficult conversation with mum, but you need to have that chat to encourage her to make a will and protect the home.
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Get her to contact a local solicitor ASAP. Without the debt,this could be achieved through a deed of variation, but that would be treated as deliberate deprivation of assets while she has significant debts.