# Father looking for advice on putting house into his and children's names.



## Up Rovers (15 Aug 2014)

A friend in his 80s who does not use the internet has asked me to check this out with all the savvy people on AAM   He will read your replies in due course.  He is not going to rush into anything as there are a few aspects of this that he is not 100% happy with and is just very carefully thinking it through.   

He is thinking that when he changes the name of the ownership on his house he might want to put it into both his and each of his children’s names rather than just his.  His wife died last year and it was not necessary to do probate because the estate or funds are very low.  The house was in joint names with his wife. He has 3 children.

He feels that while he is of sound mind that it might be as well to get this out of the way and now might be a good time to tie up all the loose ends. One of the children and their family is pushy and can be quite demanding so just in case he does become ill he does not want to give them any opportunity to talk him into anything.

1.
From a tax and inheritance aspect what rules would apply especially with one of the children living abroad.  The house would probably be worth about €200k.  Would they have to pay anything now to Revenue?

2.
If one of the children developed money problems in the future could they insist on the house being sold so that they can have their portion or demand their share of the value of the house while he is still alive?

3.
What way would this split of ownerhsip affect the Fair Deal scheme if he does become ill in the future?  One of his friends sold their house and a few months later they became ill and had to go into a nursing home.  Because the house had been sold they have to pay the full fee themselves so their money is disappearing quite quickly.

4.
Is there anything else that he needs to bear in mind from a legal or financial point of view?


Thanks.


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## Branz (15 Aug 2014)

There is no benefit whatsoever in changing the status quo, along any of the lines suggested, especially per point 3.
Leave the house in his name and have a simple clearly worded will made to express his wishes.

In general terms the 200k/3 = 70 k is well short of the current Group A threshold of 225 K
http://www.revenue.ie/en/tax/cat/thresholds.html

The FDS is described here: [broken link removed]


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## Up Rovers (24 Aug 2014)

Thanks for that reply ircoha.

Just wondering if anyone has anything further to add?

Thanks.


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## Brendan Burgess (25 Aug 2014)

ircoha has answered your question comprehensively.

Your friend should not put his house in his children's names.  In general, it is a bad idea to own a house jointly as it's a massive source of friction.  His will should specify that the house be sold and the proceeds distributed so that there would be no arguments. 

If one child is pushy now, imagine how pushy they could be if they actually owned a share of the house? 

Yes, a creditor could lodge a judgement against the house if one of the children got into financial difficulty. 

As ircoha says, he should make a clear will now, and appoint one of the children, other than the pushy child, as the executor. 



> He feels that while he is of sound mind that it might be as well to get  this out of the way and now might be a good time to tie up all the loose  ends.


If he is concerned about this, he could set up an Enduring Power of Attorney. But for the amount of assets he has, I don't think that it is justified.


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## Gerry Canning (25 Aug 2014)

Alarm bells , As one family is pushy.

Bit of deviousness may be needed.

1. Make his will now, leave everything in the way he wishes.Ensure executor is someone he can rely on, preferably non family member. Advise solicitor of his concerns., 
2. If ever pressed by pushy ones , just tell them he has left house to them but ask that they keep it quiet.
Let executor sort out what ever will says.
It is his will, his home, his assets.


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## Brendan Burgess (25 Aug 2014)

Gerry Canning said:


> 2. If ever pressed by pushy ones , just tell them he has left house to them but ask that they keep it quiet.
> .



That sounds clever, but it's not really.   This would give them an expectation and then when the true will is revealed, they will challenge the will. 

It's better to be honest with people.


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## Gerry Canning (25 Aug 2014)

Agree it should be better to be honest, but older people are vulnerable and life for them is getting too short to have nigglers annoying them.
If the older person has cleared lines with solicitor etc , I just cannot see a hard challenge.

Too often in decline the nigglers will press.I would be worried that since it is raised on AAM the niggling is probably quite advanced.

I don,t wish to sound (clever) or be dishonest, but hate seeing elderly under pressure.


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## Up Rovers (26 Aug 2014)

Thank you for those replies.


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