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What is the difference between joint tenants and tenants in common when husband or wife dies. We have children.
Please have a look at our FAQ page for more information.
Answered by:Mark Keenan, Editor
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My grandmother has been put into care against the wishes of my mother and I.
In the meantime my uncle, whose sons are the beneficiaries of any cash left in her estate when she dies has proceeded to ransack and dispose of her chattels in her home this is in order to build up the cash in her account. As my grandmother is not dead and although her will is known to us all I am not in agreement that 1. She is in a basic care
package in a council run home which is far from satisfactory and that what money she has is not being used for her care but being channeled away in order to build up the cash.
2. What can be done to stop the distrbution and sale and disposal of her chattels prior to her death. My grandmother has alzeimers and has had a stroke which has left her without speech
but I do know she is still very much aware of what is going on and would be mortified if she knew what was happening. The house has been bought by my parents in her name and has been left to them in her will. Do they have any power to seal the house to prevent further loss of her property, until my
nan has passed away and her wishes then carried out as detailed in her will. Unfortunately my nan resides in Scotland and we live in England so it is not easy to prevent this situation without involving outside parties. Can you please advise as I am at my wits end.
In England & Wales a person can apply to the Court to act as Receiver for someone who is mentally incapable.
As your Grandmother resides in Scotland her affairs will be governed by Scottish Law. I suggest you contact the Office of the Public Guardian in Scotland (01324 678300) to discuss with them the procedure they require in these circumstances.
Answered by:Mark Keenan, Editor
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1. If I have my Will stored with my bank, how do they know if I have died? My family would not know to contact them.
2. If both my husband and I died at the same time, how would our assets be split if we did not have a will?
1. You should have a copy of the will left at home indicating where the original is kept.
2. They would go to your next of kin in order of blood, so children first, then parents, then first cousins etc.
Answered by:Mark Keenan, Editor
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My father in law has left a will leaving all to his wife. He also has shares in several companies, in his name. How can we sell the shares in order for my mother-in-law to benefit from their value?
The Registrar of the Companies involved should be informed of the Grant of Probate. They will supply stock transfer forms for the Executors to sign.
Usually the High Street banks will be willing to assist in the selling of the shares, particularly if your late father in law held an account with them.
Answered by:Mark Keenan, Editor
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I'm single with no prospect of being survived by either my parents or my brothers. Therefore, I want to leave my property to my brothers three children, as an equal share in cash after the sale of the property. However, because of the peculiarity of our legal system I want to do this before I die. I don't want the DSS using the value of my property to offset the cost of nursing (like they did to my grandmother)- why the hell should they? Can I do this and how?
You would need to gift the property to his children with a reversionary life interest to yourself, which would mean the property was owned by the children, with you having the right to remain in occupation for the rest of your life.
I suggest you contact a specialist trust Solicitor who will be able to give you more specific advice.
Answered by:Mark Keenan, Editor
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I believe some tax concessions are available for married couples who leave all their assets to their partner. Is this correct? And if so could you explain them.
I can confirm that lifetime transfers and transfers on death between spouses are exempt from Inheritance Tax.
With regard to Capital Gains Tax the Personal Representatives will acquire the assets on death at market value so that there is an automatic uplift without charge to CGT.
Answered by:Mark Keenan, Editor
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My husband and I own our own property in joint names but in my Will I would like to leave my half to my son. Because my son would then become the dual owner of the property could he charge my husband rent in order to stay there? What are the implications of such a scenario?
I would not recommend such course of action without further information. Complications may arise particularly if your son is or becomes married and subsequently divorces. The value of your sons share in the property may be taken into consideration when negotiating the divorce settlement. The future needs of your husband must also be taken into account.
Answered by:Mark Keenan, Editor
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I understand that you have to be 18 years of age in order to make a Will. I am 17 and would like to write my own Will - is there anything I can do?
A Will is only valid if it has been executed by a person over the age of 18. You could write down your wishes in the hope that they will be honoured but they would have no legal weighting and the administrators of your estate will in no way be bound.
Answered by:Mark Keenan, Editor
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Can I appoint the same two people to be my witnesses, executors and guardians?
The Wills Act provides that a beneficial gift to an attesting witness, or to the spouse of an attesting witness is void. It is suggested as a safety measure that totally independent witnesses are chosen.
Answered by:Mark Keenan, Editor
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