Will inheritance advice

Dee8214

My parents have made wills which states their house will be split between me and my two brothers one of my brothers wants to give me his share (value approx £40k) 
if he gifts it to me will I have to pay tax on it 
or 
is it possible for me to buy it for a token amount ie £1 
thanks 

JGB1955

AIUI he can 'give' it to you by making a deed of variation within 2 years of the donor's death.  If he is receiving state benefits at that time he may be considered to have deprived himself of capital.

elsien

You also need to wait until your parents have passed (in case that isn’t obvious). Because there is no inheritance to share, and no known value until that point. And life may throw all sorts of curveballs in the meantime. 

The best laid plans, and all that. 

Keep_pedalling

Are these DIY wills? It is not good practice to specify a specific assets that may no longer be owned when you die.