Wills and probate question posed

A Daily Mail reader has asked a wills and probate question, noting that they want to sell the property they currently reside in.

They then want to move into their late mother's house with their sister, which their sibling inherited half of and they have owned the rest of for some time.

Those who are currently using probate solicitors will be interested to hear that the reader asked whether, if they and their sibling later decided to move out, they would be liable for capital gains tax?

"I am afraid there will be a capital gains tax bill to pay. Homeowners gain relief from this tax only for the period in which the property served as their main home," journalist Ross Clark, who specialises in property issues, wrote for the news source.

He added that the reader will have to cover the tax for the increase in value until the time they moved in as they owned the house for several years.

However, people can still make probate and other matters easier for loved ones after their death by deciding to make a will.

Published by Hannah Carr