Death Claim

G

George Egan

Guest
My father made a will. In the will my brother and I get
everything, 50-50. My father is thinking of selling the
house and putting the money in the bank and, with the intrest rentting a old fokles apartment. Do we have to get him to make out another will in the event of his death.
 
I'm not a legal expert but I don't see why this would be necessary if the will was phrased in general terms such as "half my estate to each son" as opposed to listing out specific assets (property, accounts etc.). Also - and no offence intended - but it's not a case of you and your brother getting your father to do anything but of him deciding for himself what are the most appropriate arrangements for his preferred distribution of his estate after death. If in doubt your father should consult with a solicitor. If your mother is still alive then she may have a statutory entitlement to some of the estate regardless of what the will states. These links might be of interest:


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thinking of selling the house and putting the money in the bank and, with the intrest rentting a old fokles apartment

If he does go down this road and the amounts involved are significant, he should consider getting professional independent investment advice. If he simply sticks the amount on deposit with a bank, inflation will eat up his interest, so his capital amount will be reducing each year. The worst-case scenario is that he will find himself broke & in poor health 5 years down the road and unable to pay for a roof over his head.

He may have other options available to him (e.g. buy an annuity, which gives him a guaranteed income regardless of how long he lives) which should be reviewed with an independent advisor (NB The bank manager is NOT an independent advisor - he is a salesman for his own products).
 
George

If your Dad sells his home and puts the money on deposit it will be reckoned as income if he is looking for any contribution to Nursing Home Costs from the health board. While the value of the home may increase while he is in a NH, the value is not taken into account in assessing his means for nursing home subvention. If he does not qualify on other grounds anyway, ignore this post.

Slim 8)
 
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