Hi All..
Hoping to have some direction with this, at a loss.
My mother and father wish to leave house to me in their will after they both pass.In return I will build on exstension [have funds] for my brother to live in. [2 bed house and I have 1 child. ] and look after and safeguard my brother.
My brother has special needs although has never been properly assessed he is 55 and is adamant he does not want to be assessed and obv we can't force this. He is on social welfare payment, not disability payment.
He has lived with parents all his life. My parents wish to allow him to live in the house with a right to residency included in the will [not exclusive] as he will be unable to afford to maintain and manage house financially by himself I will live there and all he will pay is 30/ 40e weekly towards utilities & bills. House worth approx 300k.
Also, 1 younger sister, we have agreed a settlement figure outside will. With paying this and exstension costs for my brother I will likely overall be obtaining property for approx 70k less than if it was to be purchased on housing market. [My inheritance obv will be included in the property.]
My question is- has my brother an automatic share in the house with right of residency?If he has a share, what happens when my brother passes? I see Rev will be looking to charge my brother CAT at 10% annually. I understand this right will be Likely added to deeds/folio along with me being main owner. Is he liable for this even with small social welfare payment?
Anyone had any experiences or knowledge they could share?
Tks
Hoping to have some direction with this, at a loss.
My mother and father wish to leave house to me in their will after they both pass.In return I will build on exstension [have funds] for my brother to live in. [2 bed house and I have 1 child. ] and look after and safeguard my brother.
My brother has special needs although has never been properly assessed he is 55 and is adamant he does not want to be assessed and obv we can't force this. He is on social welfare payment, not disability payment.
He has lived with parents all his life. My parents wish to allow him to live in the house with a right to residency included in the will [not exclusive] as he will be unable to afford to maintain and manage house financially by himself I will live there and all he will pay is 30/ 40e weekly towards utilities & bills. House worth approx 300k.
Also, 1 younger sister, we have agreed a settlement figure outside will. With paying this and exstension costs for my brother I will likely overall be obtaining property for approx 70k less than if it was to be purchased on housing market. [My inheritance obv will be included in the property.]
My question is- has my brother an automatic share in the house with right of residency?If he has a share, what happens when my brother passes? I see Rev will be looking to charge my brother CAT at 10% annually. I understand this right will be Likely added to deeds/folio along with me being main owner. Is he liable for this even with small social welfare payment?
Anyone had any experiences or knowledge they could share?
Tks