Father and brother want to co-habit what will happen to my inheritance?

Tezmondtutu

This is a strange one. My father (Widowed) but divorced from my mother recently sold his home and moved to be nearer to my half brother. He isn't happy with the new town and said what would make him happy is living with my brother. My brother is 37 and also reluctant but has said he would consider this to keep my father near him. I pointed out that if, as is my father's intention, he were to sell his house and get approx £200K for it, and then move to a larger property (450K) my brother would need to take a mortgage out and he (my father) would need to gift his estate (in life) to my brother. He says that after he passes away my brother could simply buy me out. Is this the case? What legal steps would he need to take to ensure my inheritance? I'm really angry with my Dad around this but its a sensitive subject.  

Grumpy_chap

Tezmondtutu said:

This is a strange one. My father (Widowed) but divorced from my mother recently sold his home and moved to be nearer to my half brother. He isn't happy with the new town and said what would make him happy is living with my brother. My brother is 37 and also reluctant but has said he would consider this to keep my father near him. I pointed out that if, as is my father's intention, he were to sell his house and get approx £200K for it, and then move to a larger property (450K) my brother would need to take a mortgage out and he (my father) would need to gift his estate (in life) to my brother. He says that after he passes away my brother could simply buy me out. Is this the case? What legal steps would he need to take to ensure my inheritance? I'm really angry with my Dad around this but its a sensitive subject.  

Why does your Father need to gift the £200k to your Brother?  They could buy a property as joint owners.  Your father could then draft his Will to leave the 50% ownership of the house in whichever way your Father sees fit.
Nothing can secure your inheritance.
If anyone tried to influence me how to use my money while I am alive to secure their inheritance, I would ensure they were excluded.
It is your Father's money and entirely up to your Father how he chooses to spend it or gift it while he is alive.
If your Father does not spend or gift the money, it may well be spent in care fees of one kind or another so not remaining for inheritance in any case.
Why is your Father choosing to live near / with your Brother and not you?
The greatest thing your Father can leave you is memories.  Be sure to enjoy and celebrate every moment you have with him.

Brie

If your father needs care at some point he may be forced to sell whatever home he then owns, and that includes one of which your brother is part owner. 

So if father needs care and has his own place (house, flat, whatever) the local authority should provide this at his home if that is possible.  If it isn't possible that he remains in his home he will need to sell it to finance living in a care home.  At £1k+ a week that money will go very quickly.  

If he share ownership with your brother and needs care the LA will look to the value of the home to cover the care costs.  Doesn't matter that the £ was gifted to your brother or is mentioned in the will.  The LA may or may not try to make your brother homeless by insisting on a sale of the home to get those costs unless he can pay them back somehow.  

Inheritances aren't guaranteed until your father dies and the money is in your account and even then there can be problems.

Marmaduke123

Your father should do whatever is best for him. Do you have any reason to think he won't consider your interests, no matter what he decides?

CottonTail

You shouldnt be relying on inheritance for your own future. Its up to your dad whatever the wants to do. And in all honesty if your brother is putting up with living with him, id say hes more entitled to it than you from a moral PoV. Sounds like very sour grapes.

sidneyvic

Your inheritance lol, how presumptuous..... Your father is free to do whatever he sees fit with his money in both life and death. It is not your inheritance, it does not belong to you and you are not entitled to it unless your farther decides you are, so I would suggest a change of attitude...

elsien

 You don’t have an inheritance because your dad hasn’t died and if you and your brother are in your late thirties, hopefully your dad has many years ahead of him. I think this is what is commonly known as counting your chickens. 

Sounds like there’s some family dynamic that need addressing here, outside of any financial issues. 

 Living with your brother may not work for either of them especially as your brother isn’t keen even before dad moves in. So in 5 years time the situation could have changed again. Dad remarried, for example, and leaving the lot to his new wife. 

Who knows. But really not worth getting angry and falling out with people over.?