Inheriting a house where my brother has a lifetime tenancy

[wok20]

I have inherited a house and 25% of estate in my mothers will on condition that my brother lives in it for his lifetime and i care for him and i will be responsible for all maintenance on the property. I am on a disability allowance and my husband is on his state pension contributry we live in a council house for witch we pay rent and am concerned as to how this will effect us with regards to our income and taxes etc the conditions also say should we decide to move into the home we must provide similar home for my brother by selling the home. would like to know where we stand

 

[mf1]

How much money is/value of inheritance involved? How many beneficiaries are there? Is there a solicitor dealing with the estate? Who is the executor?

I think you need to take legal advice to decide how , if you decide to take the inheritance, it will impact on your circumstances.

It is possible to decide not to take the inheritance-its called disclaiming - but you'd need to work out the figures before taking such a big step.

mf

 

[wok20]

Hi thank you for reply, the house is worth about two hundred and fifty thousand and the estate has not been valued as of yet but i am to get 25% and my brother the rest but he has to live in the house for life and i will have to be responsible for all maintenance on the house if i want to move in i then must buy a similar house for him my brothers money is to be put in trust for him and looked after by my sister who is the executor my husband and i are worried as to the impact on our own house as we pay rent to council and could we loose our medical card etc

 

[mf1]

OK- there is clearly a family history - money in trust for the brother etc.,etc. There's a reason why your mother made her will the way she did.

As above, go and talk to your own solicitor. If you don't have a solicitor, get one.

As advised,
It is possible to decide not to take the inheritance-its called disclaiming - but you'd need to work out the figures before taking such a big step.

There's no point in worrying about what might happen until you know the facts and get proper advice.

If you don't want to pay for a solicitor, you could contact the Citizens Information Centre or FLAC

mf

 

[wok20]

Hi thank you for reply, the house is worth about two hundred and fifty thousand and the estate has not been valued as of yet but i am to get 25% and my brother the rest but he has to live in the house for life and i will have to be responsible for all maintenance on the house if i want to move in i then must buy a similar house for him my brothers money is to be put in trust for him and looked after by my sister who is the executor my husband and i are worried as to the impact on our own house as we pay rent to council and could we loose our medical card etc

OK- there is clearly a family history - money in trust for the brother etc.,etc. There's a reason why your mother made her will the way she did.

As above, go and talk to your own solicitor. If you don't have a solicitor, get one.

As advised,
It is possible to decide not to take the inheritance-its called disclaiming - but you'd need to work out the figures before taking such a big step.

There's no point in worrying about what might happen until you know the facts and get proper advice.

If you don't want to pay for a solicitor, you could contact the Citizens Information Centre or FLAC

mf

thank you mf1 will do as you suggest

 

[noproblem]

What happens if you die before your brother? You might want to consider this happening too.

 

[wok20]

i had not even thought about that as this just got sprung on us,my mother revoked my dads will and left us with this as i said three quarters of estate has to go into trust for my brother,my sister who is the executor was only told about this and very worried as she realy do not want it,i have other family brothers and sisters my older brother was to do all of this on my dads will but that was revoked. i an so worried as to how this will impact on us

 

[Feemar5]

It would appear that inheriting the house is going to cost you while your brother lives there - so I don't see how your rent can be affected. However, if you inherit 25% of whatever cash assets are available that will definitely affect your circumstances. I would advise you to check with the council and work out if disclaiming is a better option. Is your brother disabled - maybe your mother thought you would be the best to look after his affairs but she really should have checked with you.

 

[DeeKie]

Would you sit down with your sister? If she is managing your brothers money perhaps you can work out a plan together.

 

[Bronte]

i had not even thought about that as this just got sprung on us,my mother revoked my dads will and left us with this

Would just like to point out that this is not what your mother did. She inherited from her husband and made a will based on the new circumstances she found herself in, and did so in the best interests of her children. Clearly there is some issue with your brother and presumably the reason she left you the house is that she trusts you to do the right thing by your brother. Don't assume the council will do anything negative until you go talk to them. And don't always accept what the council will tell you, some people in those places don't always know the rules. (We had the case with an uncle left a life interest like your brother - as regards free care in a home at end of life, HSE/Council/Disability but sorted everything out eventually).

Is it a possibility to move into the house and make a granny flat for your brother. That way you have a 'free home' , your brother has a home with you nearby, and your maintance costs will be on your own home.