Life interest in house

NotsureIamdoingitright

Mother and StepFather owned house as TIC in 50% shares.

Mother died a few years ago, leaving her estate, which comprises of cash in bank, her share of the house & her chattels equally to her 2 adult children.

Adult children & StepFather are all Executors but StepFather is NOT a beneficiary.

StepFather is allowed to remain in the property, this is a life interest, yes?

With this in mind, can Probate be applied for online, or do we need a Solicitor?
Does anything need to be done re the house?

There is no IHT to pay.

RAS

Immediate Post Death Interest Trusts now need to be registered with HMRC. In many cases within 2 years, occasionally quicker. Has that been done?

The beneficiaries of mum's need to read the will very carefully and maybe get legal advice. The will may set down the conditions by which the trust ends, maybe with SD's death, maybe if he goes into care, may allow him to use capital to buy a smaller property or to benefit from income from investing the capital from a sale if he goes into care. If it's silent, there may be default assumptions.

Does mum's will state who the trustees of the Trust are? A restriction on the Land Registry preventing sale without permission of the trustees, or other beneficiaries may be wise. 

Keep_pedalling

Are you taking about probate for your mother or your stepfather? 

You would only need it for your mother if the bank won’t release her cash without it.

You will need it for his estate. 

NotsureIamdoingitright

It's probate for Mother as bank won't release cash without it.

Re the life interest, her Will says:

The Occupant can remain living in the house free of charge for as long as he wishes, until he remarries or cohabits.

When the Occupant ceases to live in the House, my Executors shall hold my share of the House and Furnishings for the benefit of (XX and YY). (beneficiaries)

The Executors shall hold the rest of my Estate on trust for sale on the following terms.

1 To pay any debts or Executorship expenses.

2. To divide the residue into two equal shares between XX and YY. (beneficiaries)

My Executors have the following power:

To postpone indefinitely the sale of any property held on trust for sale.

NotsureIamdoingitright

Trust has not been registered with HMRC.

RAS

Was this will written by a solicitor or a will writing company?

NotsureIamdoingitright

A solicitor 

NotsureIamdoingitright

It does also state in the Will that at the request of the Occupant, the Executors may sell the house and buy another to be held on trust for sale on the same terms as the House

RAS

@poseidon1

Any comments on the text?