Can my brother denounce inheritance so we don't have to pay debt...?

thorsoak

lombrozo wrote: »

I think the 3 of us are executors... It's definitely not my older brother, might be me or my other bro...

You would know if you were one of the executors!

Frankly if your father was so bothered, as other posters have said, he could have put a letter of wishes with the will - but as he didn't do that, the will should stand - if you managed to persuade your older brother to relinquish his inheritance and he were to declare himself bankrupt, then I think the Official Receiver could well come after your brother's share of the inheritance - and all that would do would be to increase the legal costs of probate thereby leaving you less money!

euronorris

I still don't understand how someone can claim that clearing one's debts, essentially giving them a clean slate and a second shot at everything, is not a good use for the money?

What would you prefer he spent the money on???? What would ever be good enough in your eyes?

And, think of it like this: You may decide to use the money to buy a new car or get a new kitchen, for example. Your brother may have already done those things, on credit, so how is repaying it using the inheritence any different?

Anyway, I am also beginning to think that this is about a very different question.

money_saving_diva

lombrozo wrote: »

He loves all 3 of us sons but vehemently wanted the money to be put to good use, to help us support our own families or to go towards our own homes so that it continues to help us throughout our lives.
QUOTE]

This is what will happen - all the money will help you ALL. It sounds like it will help your brother the most in fact as he has already gone and spent alot of it.

lombrozo wrote: »

(my 'other' brother and I have our own house we bought together)

It sounds like you two are both closer and are even in debt together (yes a morgtage is debt ). Sounds like you are trying to plan a way of getting a better deal for you two??

MrsE_2

Oldernotwiser wrote: »

He can't "give up" his inheritance to claimmeans tested benefits, it's known as Deprivation of Capital and he would be assessed as if he still had the money.

The OP doesn't give a rats ar5e what brother chooses to do with the money they (as in family) don't want to loose welfare benefits after the windfall & don't want to see debts paid if they can whedle out of it.

Hence the drip feed;)

springclean

well i was gobsmacked by page 2. is this OP for real?

like some others have said, there must be more to this because i cannot believe some of the OP's comments. brother doesn't deserve it because it was earned by hard graft and he hasn't worked hard and has debt and won't spend it wisely...? OP, who died and made you God?

while i commend not building up debt and working hard, the truth is there are 3 brothers who stand to inherit an equal share from a legal will. what they each do with it is up to them - just like we cannot stop a sofa surfer and dole scrounger buying a lottery ticket. life ain't fair, but we are all responsible for our own decisions, and i presume the non-deserving brother is a fully-fledged adult without need for diagnosed 'care'.

i can't stop shaking my head. really...!

luxor4t

Unfortunately, life is unfair.

chesky369

"we talked about keeping his hosue as a place we could all come to if we ever needed, we talked about keeping the 50k savings for it's upkeep, and he was happy with this. We also spoke about myself and my other brother keeping my older brothers share and drip-feeding it to him"

I'm so glad your father managed to resist your insideous nasty campaign against your brother. Obviously he didn't really think much of your ideas, much as he chose not to say so.

I personally hope your naughty brother pays off all his debts and then has sufficient cash left over so that (me) the taxpayer no longer has to support him. If there's anything left over after that, I hope he spends it on exactly what he wants to. IT'S NONE OF YOUR BUSINESS.

savingmummy

jackieb wrote: »

I'm sorry, but I think if your dad was so set against your brother using the money to pay off his debts then your dad would've written a will stating this.

I agree!

Leave him with his bit and let him waste it (well use it on debt), may be a lesson learned for his future.

Asianchick

Okay...Here I go.

1. Long story short, my dad died in Jan 2009 We were called to the solicitors office where she read the will. The second paragraph in the will stated who the executor was. She is in charge and absolutely nothing can be done without her regarding my dad's estate. So if the OP knows what the will says then they know who the executor/s is/are.
2. There are 3 of us. My dad owned his house outright and it was left to all of us in equal shares. We were also left some cash and the residual of her estate was left to the grandbabies. When I got my share of the cash, I paid off my credit card bill. Some may say this is cold but it is not. IT IS REALITY and I know my dad would have wanted it. When probate is granted, I would like the house to be sold. If the others don't want to then they can buy me out.
3. With regards to keeping the house as a safe haven, isnt that a bit of a waste? Either it is rented out or sold. Otherwise, it is you who is wasting your parents hard earned money. Are you telling me you want the house to just remain empty until one of you needs to stay there?
4. I loved my dad dearly but he is dead. He is not in the house, his spirit does not linger there. Maybe some memories are there but the most important memories are in my head. I know that he would have wanted me to buy my own property and that is what I am going to do. I am not heartless, I am a realist.

kelloggs36

seven-day-weekend wrote: »

But why should the money not be used to pay his debts off? It is right and proper that what is owed should be paid. You can then drip-feed the remainder.

He could pay off the debts, so he hasn't really benefitted by getting anything new, just getting square again. Then what is left it is up to him how he spends it - you spend yours as you wish and let him spend his. Leave him alone - if he goes wrong again then he will have to face the consequences as there won't be any more money to come to bail him out again will there?