Complicated family home/rental property arrangement - how to sort the will

I am not in the detail enough to understand how these fully work but could a life interest or right of residence in the Dads house be a viable option?
 
This has been really useful, thanks so much. I am now clearer in my head that if my Irish sister inherits the family home, which is the preferred option for my dad as he’d rather it was not split up, then the money owing whether in exceeding inheritance/gifts thresholds and/or Fairdeal if need be, then it is up to them to come up with the solution best for them. They will have after all benefitted twice and if they want to keep the house they will need to come up with the cash. If they can’t, they will need to get advice on splitting the property from the land and selling it. While it may not be dad’s intention that it be split, that may be the outcome but he won’t be around to worry about that I suppose.

The NZ sister and I will have been treated equally with each other, and that will have to satisfy them.
 
And there are a few other principles to consider here.

1) There is no law that each of the three children must get exactly the same amount in a will. Parents often leave nothing to children who do not need it.
2) It is very common for the child who minded the parents gets more than the others
3) The father may decide that keeping the "complex" together as one unit is more important than an equal division and may choose to leave the Irish sister the family home. Or give her an option to buy it cheaply.
 
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