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I am in dispute with a solicitor as there is a query on what I have suggested to do for a client.
I have an elderly couple with an expensive main residence, no mortgage. The property is held as joint tenants.
I have suggested a transfer of 20% to the children who are still there. The Balance of 80% to be held by the husband and wife. My suggestion was for this 80% to be still held as joint tenants.
I was informed that this would need to be held as tenants in common, ie 40% husband and 40% wife. If on the first death then the 40% of the house will fall in the estate is that correct?
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