advice on waiving inheritance rights

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positivenote

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HI all,
our father passed away recently and myself and my brother are entitled to 1/3rd of his estate between us. He never left a will and we have both agreed that we want our mam to be the sole benefactor of his estate. She has lived in the family house since it was bought but her name was never put on the deeds (we are in the process of getting this changed) and she has no intention of selling the house. All combined (Value of house, car, savings, bonds etc...) his estate is approx 300k. Im looking for advice on whether we (myself and brother) would be better off legally waiving our rights to any ownership of the estate (and if so how can we do this at the min cost to ourselves?) or just inheriting the 1/3rd and allowing our mam to keep it. To emphasis we both agree (myself and my brother) that we want our mam to keep everything as she would need whatever monies dad left behind more than we would and we wouldnt want to have anything to do with the house as long as she wanted to live there.
any advice would be more than welcome as the current solicitor we are with is saying that myself and my brother need to seek independent legal advice, which we feel is another cost.
Thanks
 
Probably under Legal rules your solicitor should not act for more than one party.
Contact any reputable solicitor and ask what cost etc.If its expensive you can review.
I cannot see this case being expensive ,and you are normally better getting it done by someone used to these things.
 
Presumably some solicitor will come on record to transfer the assets and all you need do is formally write to him/her waiving your entitlement. If your mother is elderly, then perhaps you and brother could contact a solicitor to do the job for her.
 
My sister and I waived rights on a will, and it was all dealt with by the same solicitor (effectively the will got changed and divided up differently).
In your case I think I would keep the inheritance but let your mother live in the house and maybe gift the cash to her over the coming years in a tax efficient manner my logic being in case you fell out with your brother or your mother and then get cut out completely at a later date.
 
Sounds like you want to disclaim, yes unfortunately you need to get independent legal advice before doing so. However this should not be a big expense. The solicitor acting for your mother can draft the disclaimers and send them to a solicitor of your choosing with details of the estate. You can then attend with that solicitor and, after getting the requisite advice, disclaim if you wish to do so. One visit, quite straightforward, I can't see it costing a huge amount.
 
http://www.citizensinformation.ie/e...estate/what_happens_the_deceaseds_estate.html

From above there is no will leaving a spouse (unless not married as not clear) and children - spouse gets two-thirds, one-third is divided equally between children

If you inherit and let your mother keep it then she has received a gift from you and you need to consider what tax may repayable on that whereas inheritance from her husband would be tax free which would be achieve by disclaimer

http://www.revenue.ie/en/tax/cat/guide/disclaimer.html
 
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