Executor ignoring request for information

MalTom · 10 January 2018 at 8:26PM

My Mum passed away in October, in her will she appointed her 3 children equal shares of her estate and made us all executors and trustees. The brother is insisting on having a survey on her property to ascertain the saleability of the house - built in the early 70's and bought by our parents. Currently rented out.

The family has, over the last 2-3 years completely broken down resulting in me taking them to the court of protection due to extremely bad decisions being made regarding Mums care and the costs. Unfortunately 3 of us had POA for Health and Finance and my younger siblings played the 2 against one game so I was pushed over on numerous decisions resulting in Mums bank accounts being cleared out.

Now My brother is ignoring my requests for information regarding the bank accounts - he closed the existing ones and opened others but wont give me the details so I do not know the current status of the accounts. He hasn't as yet informed the tenant that Mum has passed away and wont make an appointment with a solicitor to start probate until I agree to his plan to refurbish the house before selling. I have told him I intend to appoint a solicitor to act on my behalf, but Ive been informed that a solicitor can only deal with all the executors and not just one of three.
Does anyone have any advice - or has anyone else had a similar problem?

Savvy_Sue · 12 January 2018 at 1:02AM

MalTom wrote: »

I have told him I intend to appoint a solicitor to act on my behalf, but Ive been informed that a solicitor can only deal with all the executors and not just one of three.
Does anyone have any advice - or has anyone else had a similar problem?

Informed by your brother? I think there are limitations to that.

Yes, if you want a solicitor to wind up the estate, it's likely they'd only agree to proceed on instructions from all three executors.

But nothing to stop you consulting a solicitor about how to deal with your fellow executors.

MalTom · 12 January 2018 at 1:42AM

Thank you for your reply. I am trying to get answers to the questions I have asked my Brother - self appointed chief executor - but the phone number he gave me as contact for the bank was a call centre who are now trying to locate the person by searching their internal records for the name I have been given. He is refusing to apply for probate until I agree to renovate the property before putting it on the market. Currently houses in the area are being sold within 2 weeks of going up for sale - it is a much sought after area with excellent schools and access to motorways etc.

Yorkshireman99 · 12 January 2018 at 4:54AM

MalTom wrote: »

Thank you for your reply. I am trying to get answers to the questions I have asked my Brother - self appointed chief executor - but the phone number he gave me as contact for the bank was a call centre who are now trying to locate the person by searching their internal records for the name I have been given. He is refusing to apply for probate until I agree to renovate the property before putting it on the market. Currently houses in the area are being sold within 2 weeks of going up for sale - it is a much sought after area with excellent schools and access to motorways etc.

If property is selling well then there is no loss in waiting. If the house is renovated and then sold the estate will be subject tomCGT on the gain from the value at the date of death. Probably the only way to resolve matters is to ask the court to remove him as executor.

MalTom · 24 January 2018 at 4:01PM

Finally applied for probate, but brother still refusing to have an estate agents valuation - once we receive the grant of probate - can I ask an estate agent to value the property without agreement of the other 2 executors?

Yorkshireman99 · 24 January 2018 at 5:26PM

MalTom wrote: »

Finally applied for probate, but brother still refusing to have an estate agents valuation - once we receive the grant of probate - can I ask an estate agent to value the property without agreement of the other 2 executors?

Is the estate liable toIHT? if so the executors should have got a paid for valuation by an RICS or similar, Estate agent's valuations are worthless. It is not the executor's job to renovate the property to incease thev alue. In will almost certainly incur CGT.

Margot123 · 24 January 2018 at 5:47PM

As YM99 says, there are specific steps that must be followed, otherwise HMRC will not be very happy.

troubleinparadise · 24 January 2018 at 9:29PM

How did your brother intend funding the renovations he wants?

Was that via cash from the three of you?

If relations are bad, entering into a joint venture sounds like a terrible idea.

You are better off selling it, or being bought out of your RICS valued share, and moving on independently.

kangoora · 24 January 2018 at 11:55PM

Additionally, house renovations rarely add their full cost to the value of a house e.g putting in a £12k kitchen doesn't automatically mean you can ask £12k more for the property, it may only add £3k to £7k to the asking price.

He could be naive, or, with my suspicious mind, getting a lot of renovations done and then offering to buy it himself at the market rate following all the renovations ........... but family wouldn't do that to each other, would they?

MalTom · 25 January 2018 at 2:18PM

Thank you all for your replies. At the solicitors we were able to give our estimate of the value of the property which we all agreed was approximately £180k so there would be no inheritance tax.
The "chief Executor" (self appointed) originally expected the beneficiaries to contribute towards any work done on the property, but I declined, now he's expecting the rental money to cover the cost, so there are income tax responsibilities. I have spoken to the estate agent who is currently managing the rental has told me this week that they have a waiting list for houses in the area where the house is and other than the removal of an asbestos garage is advising that nothing needs to be done.
He has agreed that the property will be sold but other executor and the instigator of all the family problems says she isn't ready, and he is still insisting on the RICS survey. I will be retiring in a couple of years time and really want this sorting out and any tax paid and monies invested before I start to draw my state pension.

Yorkshireman99 · 25 January 2018 at 4:38PM

MalTom wrote: »

Thank you all for your replies. At the solicitors we were able to give our estimate of the value of the property which we all agreed was approximately £180k so there would be no inheritance tax.
The "chief Executor" (self appointed) originally expected the beneficiaries to contribute towards any work done on the property, but I declined, now he's expecting the rental money to cover the cost, so there are income tax responsibilities. I have spoken to the estate agent who is currently managing the rental has told me this week that they have a waiting list for houses in the area where the house is and other than the removal of an asbestos garage is advising that nothing needs to be done.
He has agreed that the property will be sold but other executor and the instigator of all the family problems says she isn't ready, and he is still insisting on the RICS survey. I will be retiring in a couple of years time and really want this sorting out and any tax paid and monies invested before I start to draw my state pension.

You need to remember that when the property is sold if it fetches much more than the probate value. The one executor cannot rent it out without the consent of the others. Play him at his own game.

Executor ignoring request for information

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