Cost of changing from joint tenancy to tenants in common

[High Edge]

I spoke to a solicitor to confirm that I could change from a joint tenancy to tenants in common. She said that it is done by severing the tenancy as my husband no longer has capacity and it includes writing a new will and setting up a Life Interest Trust. She charges £350 to sever the tenancy (which could be challenged by the L/A) and £1500 + vat for a new will. Didn’t think to ask about cost of the Trust or what it actually means - can anyone explain this please?

 

[Jaded'n'faded]

Shop around! I've just had my will done by a solicitor - the cost was £80 + VAT.

I don't think changing to tenants in common counts as deprivation of assets so it's unlikely the council could challenge it. If he goes into care (or is already there) the house would be disregarded in any finanacial assessment while you are living there. So the tenants in common thing would only come into effect if you pre-decease him.

 

[nitram]

Severing a joint tenancy is not deprivation, each person owns the same after severance as before.

There is no charge for severance, a form just has to be completed and sent to the Land Registry
https://www.gov.uk/joint-property-ownership/change-from-joint-tenants-to-tenants-in-common .

Unless you have a copy of the title deeds you will have to view one for £3
https://www.gov.uk/get-information-about-property-and-land/copies-of-deeds. to get title number and exact names of joint owners as recorded in the deed.

You should be able to get competitive prices for the will and trust

 

[Jale]

Our wills were about £230 (for the 2) but they were fairly simple, I think it could be more if it was more complicated, but that amount does seem expensive. No idea on the other matter, sorry