What next?

bobster2

Helpmeouthere said:

Thanks for the prompt replies, all points taken on board, in answer to your questions....

GK's are adults and renters, not property owners. They seem to have considered the fact that they are tying up their inheritance.

Will says "I give the reside of my estate." No specifics on property split.

FYI, Flat was RICS valued at £630,000.

This makes everything much easier. They don't need to own part of the flat at all. They just need 1/6th of the residual estate (the flat is part of the residue).

So assuming estate was £630,000 (flat) + £225,000 (savings). GKs just need £142,000 each - so £284,000 in total.

Get £225,000 from savings and you and SIL add £29,500 each. That gives you £284,000 for the GKs.

And you and SIL each own 50% of the flat.