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Will problem - House inheritance lost if house is sold

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  • Will problem - House inheritance lost if house is sold

    My mother is in a care home and will sooner or later need her house selling to pay her fees, the fees currently being paid for her from her pension and savings by myself under a PoA. Her will states that the house and chattels are inherited by myself, her only child. All other residue and estate are shared between me and my three step siblings, with myself and my eldest step sibling being executors.

    There is no provision in the will for the proceeds of the house to be ring fenced or otherwise secured to be passed to me, I assume the cash becomes part of the residue to be shared between the four siblings as the house will no longer exist.

    What can be done to secure any remaining proceeds of the house to be inherited as my mother intended?

    Can an agreement be established amongst the siblings to treat the house proceeds as the will intended, e.g. in a separate savings account?

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  • #2
    Re: Will problem - House inheritance lost if house is sold

    Well, over 100 reads and no reply – maybe this is a thorny one!

    Just to clarify, in case I sound a little money grabbing as I guess it can read a little like that – my step siblings are a generation older (25 – 30 years) than me, being from our fathers first marriage, I’m the only child from his second marriage. They were beneficiaries when he died almost 20 years ago, they are not being done out of an inheritance!

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    • #3
      Re: Will problem - House inheritance lost if house is sold

      Yes I think it is a little complicated.

      So your Mother's property will need to be sold to pay her care.

      Her will leaves you the house, and the rest of the estate is shared between you and your step siblings.

      By the time she dies, there won't be a house as it will have been sold to cover care fees.

      So is there a way of keeping the capital from the house separate to the rest of the estate so it doesn't go into the general estate pot?

      I think that's what you are asking?
      #staysafestayhome

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      • #4
        Re: Will problem - House inheritance lost if house is sold

        If you all agree there is no problem in waiving rights to an inheritance.
        To ensure a water tight agreement best to have it drawn up by a solicitor,
        Put house proceeds in separate bank account and possibly in a trust, then the others can waive their right to any residue.
        Have a read here:http://www.ehow.co.uk/how_8557879_re...neficiary.html

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