Many families would not do anything, but to keep things in order I would suggest doing things properly.
The executors of the Will (your dad?) should apply for probate and complete the relevant IHT forms (possibly the simpler IHT205 if her assets were below £325,000 - but double check this). Based on the information there shouldn't be any IHT to pay.
Once you have probate, your wife should be added onto the land registry and your mother removed. You will need a lawyer to put in place a declaration of trust specifying the ownership percentages.
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