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Part of a house in a trust

BaFico66
BaFico66 Posts: 1 Newbie
edited 19 March at 3:15PM in Deaths, funerals & probate
Hi all, I feel like a complete novice despite being middle-aged. To keep it brief: my mother passed away and left me half of her house in her will, specifying that it should be placed in a trust. Since then, her husband has become unwell and now resides in a care home. To cover the care home costs, I need to sell the house.

I have a few questions:

1. Do I need to set up the trust now, and how do I go about doing this?

2. Should I wait until the house is sold before placing the money into a trust?

3. Does the trust need to be established before the house is sold?

4. Is setting up a trust a straightforward process?

I’d really appreciate any advice - I'm still processing the grief and I'm procrastinating because I feel lost and a bit alone , this seems to be the last piece of my mum's death that I have to deal with. 

Comments

  • poppystar
    poppystar Posts: 1,582 Forumite
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    edited 19 March at 1:34PM
    1. What sort of trust is this?
    2. it might be better to have this thread moved/ start a new thread onto the Death, Funerals and Probate part of the forum where more people who know about trusts after death lurk. 
  • onomatopoeia99
    onomatopoeia99 Posts: 7,138 Forumite
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    The will should establish the trust (probably described as an immediate post death interest trust or property protection trust) and describe its terms, often giving the surviving spouse a life interest in the part of the property put into trust for the ultimate beneficiary/ies.  Given there was property involved there must have been probate - who was the executor and can you find out if they got this?  If created by a will the trust needs to be registered with HMRC within two years of death if I recall correctly (I had to do this after my father's death). The land registry also has to be updated to reflect the new ownership - was this done?

    Does her husband own the other half of the house?  If they don't, why does the house need to be sold at this time as money from the sale would not be theirs to be used to fund the care home?

    I basically had to learn all of this stuff after my dad died and I took on the bulk of the executor work.  People on the deaths funerals and probates board (under marriages relationshps and family) were very helpful and you may wish to ask there or ask for this post to be moved.
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  • Brie
    Brie Posts: 14,195 Ambassador
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    moved!...........
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

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  • Keep_pedalling
    Keep_pedalling Posts: 20,219 Forumite
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    The will created the trust although as executor you should have registered the trust with HMRC.

    Dies her husband still have his mental faculties? If not does anyone have power of attorney for him.
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