Remove property from trust - to sell whilst still alive

Keep_pedalling

sambodidly said:

If you FIL no longer wants them to inherit he should make a new will, but if this is something you are doing to bypass the will then it is utterly wrong.
----  He already has a will that states how he wants his estate to be distributed on his death that doesn't list the house specifically so if he has any money left, that will be shared accordingly.   There is nothing utterly wrong here.  ALL parties are in agreement, both BILS don't want anything. The other two beneficiaries are our sons, who will inherit all we have when we die, thus inheriting anything from this property in time.   Everything is transparent within the family. Everything.  Also, like I said before, the FIL has an ER mortgage on the house going up at a silly rate, so given a few years, there will not be much equity left in the house anyway, if any.
Thank you, but I was looking for advice/answers to CGT and IHT .........

It is wrong if you are making that decision regarding your sons. If they are adults then they can make that decision but if they are minors you have no right to make that decision for them. Your FIL can alter his will to suit his new circumstances, but the decision is not yours to make.

sambodidly

Both sons are adults and FIL will doesn't stipulate property, so doesn't need to be changed. FIL approached us, not the other way around. Totally his choice, with all family in agreement.