Written out of my father's will - so sad!

far2812

I know that's what I am scared of Mo!

Mu Uncle's conversation with Dad was after he moved in with me - I suppose one way I could find out is get a copy of mum's estate breakdown (as that was only 3 years ago) and see what was on that!

I just don't trust them at all (they had my dad's apartment valued 10 days BEFORE Dad died). It just made me think - why have they put that clause in??? As if they were revealing all - then there would be no need for it!

tandraig

far - it is a standard clause when the solicitor believes the estate is being shared out according to the deceased instructions and everything is in order.
saying that, as mojisola says - their solicitor is relying on them to produce the paperwork etc relating to the estate. even though he is acting for them - he WOULDNT hide any assets for them - I just couldnt envisage a solicitor doing that, not unless he could retire to spain from it! sorry but the estate is large but not that large!
you really need to talk to uncle far. ask why he thinks there is more money involved and if he knows anything about any accounts or properties.
I just have this feeling that the siblings may well have had money off your dad when he lived with them. which could have reduced the inheritance. in which case - I doubt you could do anything. someone may come along and correct this, but in first instance - talk to uncle!!!

or ask errata? before you sign anything!

DVardysShadow

far, they sort of have you in a cleft stick. Either you agree to their words or you don't and on that hags whether you get your share.

In your position, I would be inclined to sign to their wording, but add 'subject to [independent] review of the final estate account'. Their solicitor would tell them that this really is the best they can expect and if they strike it out, it will look like they have something to hide. I think too, you would be wise to look at your mother's estate accounts.

But take advice.

daska

If there is a huge discrepancy between the value of the estate left by your mother and the current value you should point this out to your solicitor because any 'gifts' made in the last 3 years would still be subject to inheritance tax...

far2812

Thanks all I have emailed my solicitor with my concerns again - I will ring my Uncle this afternoon and see what he thinks x

tandraig

take your time far - you dont have to sign anything straight away - enough time for you to do some digging anyway and find out if large sums of money went the siblings way while your dad was living with them. or if uncle knows of any property or bank/savings accounts which arent on list of deceased assets. you need that full accounting before you sign anyway - and i dont know why one wasnt included in that letter. tbh - I have always been an executor in previous wills not just a beneficiary - but have always ensured that everyone named had a full accounting before signing the form letter.
errata or daska will probably know which is the correct procedure - I can only comment from past experience.

Savvy_Sue

daska wrote: »

because any 'gifts' made in the last 3 years would still be subject to inheritance tax...

Some gifts are excluded from this - up to £3000 per year plus £250 to any number of different people, something like that - and the tax due is on a sliding scale, reducing to nothing after 7 years, isn't it?

daska

Savvy_Sue wrote: »

Some gifts are excluded from this - up to £3000 per year plus £250 to any number of different people, something like that - and the tax due is on a sliding scale, reducing to nothing after 7 years, isn't it?

summat like that, but we're talking 3 years and a suspicion that this may have been an estate of approx £800K. I guess Far has to make a judgement on what standard of living (including drinking) her father enjoyed when working out whether the difference between the estate left by her mother and the current valuation are reasonable. The discrepancy also has to be viewed in the context of the nature of the investments he made - stock market ups and downs and all that malarky.

BTW Tandraig, TY for the vote of confidence but my only knowledge comes from having helped other executors and seen the muddles they get into - no professional competence at all!

far2812

well daska - you have given good advice.

My solicitor is going to get a copy of the accounts before anything is agreed.........will post again soon x

tandraig

actually daska - you seem to have more knowledge than me, judging from your previous posts! put me right a few times, and I mean that in a nice way!
I have only dealt with small amounts and its been fairly straightforward (apart from the one i am dealing with now as my mums representative). I did work for a solicitor many moons ago whose bread and butter was wills and conveyancing so am familiar with many of the procedures and documents, but cant claim more knowledge than that!

far - glad to hear you are getting the full accounting, have you spoken with uncle yet?
I think the siblings were trying it on - to get you to sign the waiver before knowing what moneys was involved, makes me wonder if they are trying to hide something.