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22, Orphan Only Child Making a Will

  • 04-07-2007 11:51pm
    #1
    Closed Accounts Posts: 647 ✭✭✭


    My parents are both dead & I inherited the family house. If the house was valued at €800,000 and I have another €70,000-80,000, that would bring the total worth of the estate to about €875,000.

    My Aunt would be person I want to do the best for.
    Under my current will she gets 90% of the total estate, she is also the executor of the will and as such, she would decide what to do with the house, whether to sell it or possibly keep it herself. A nephew leaving money to an Aunt I think pays the highest rate of tax so at 90%, she would still need another €150,000 to buy the house. They have often said that it is a better built house with more potential than the one they currently live in & also has the advantage of being next door to my Aunt's mother-in-law who is very close to them.

    She owns a house worth €700,000 and also inherited another worth about €550,000. There is some argument over the house she inherited between herself and 2 sisters who live in rented acomodation & feel they should have gotten the house. My Aunt has told me that she would almost be happy just to leave it to them to spair the argument but it was left to her AND her husband who wants to rent it out.

    I have spoken about this to the solicitor but as I am still young, 22, am still not sure what could happen.

    They have often said that mine is a better house and has the advantage of being next door to my Aunt's mother-in-law. They bought their house about a year and a half ago and have done some work on it. I don't know if they would sell it and move to mine at this point or just sell it.

    I know it's complicated but is there anyone who could help me at all or give me any advice. Any at all would be appreciated about what my Aunt and husband do if such a situation came about.
    Thank You


Comments

  • Registered Users, Registered Users 2 Posts: 4,010 ✭✭✭besty


    Glacier, please read the forum charter. I would draw your attention to the specific rule against seeking legal advice. Amend your post to comply with this and PM me when done.

    Cheers,
    Besty


This discussion has been closed.
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