Mothers Will leaves her share of home to children

Plans_all_plans

Do you not trust your father to respect your mother's wishes when he downsizes then? I understand what you are asking, but I wonder WHY you feel you need to be on the deeds.

marshall_cockney_fox

Simply because what happens if he doesn't much like my mothers wishes and doesn't follow what the will stipulates. Only the other day he mentioned the words "remortgage" as his business is not doing too well.

Mum just wanted to protect her lifetimes investment as she had little confidence in dads financial management skills.

mountainofdebt

OP

I'm not judging your mum as we all have the right to do with our money as we see fit but....

I really would get the situation checked out by another solicitor to the one that drew up the will.

The reason I say this is that,whilst at the moment you are all happy for your dad to potentially live out his days rather than kicking him out after 3 years, what would happen if one of you changed their mind? Or got divorced and the partner wanted their share?

tbh I don't see how you could force your dad to sell up as effectively you and your siblings own only half of the asset (as did your mum) and until both parties are in agreement you all own a part share in the asset and no one party has an overall majority in that asset (similarly I don't see how your dad can raise a mortgage on it without the other parties' agreement......just had a thought - what would happen if your dad defaulted on the current mortgage?)

tbh your mum's will, while no doubt made with the best of intentions, is a potential can of worms and a few pounds spent on proper legal advice will be well spent.

meritaten

what a horrible will! sorry, but she must have hated her husband to have left that! if she didnt trust her husband financially she could just have left her half to her children! instead she has left you a mess to sort out! poor dad and poor you! I dont envy you trying to sort that out!
can you not sell it all now and divide it up?

puddy

it doesnt make sense, if the 3 children are on the deeds, that makes fathers share 50%, then each child has 17.5%?

now, it states that on the sale of the house, each child to get 50k and dad to get the rest. but the price of the house surely dictates their 'share' in law doesnt it??

puddy

also what happens if dad re marries and leaves his share to his new wife

Savvy_Sue

As far as the deeds go, we were advised that there was no need to alter them after Dad died. The Land Registry shows that he and Mum held the house as Tenants in Common, so neither can sell the house without the other. Since Dad is dead, his half cannot be sold without the executors' involvement, but we don't need to record that.

I got half an hour free legal advice about this through my union - do you have similar, or through your home insurance? It may not be enough for you as the circumstances are different, but it may be a start.

paddedjohn

marshall_cockney_fox wrote: »

thanks for all the replies. I think a few of you have focussed on the 3 years issue which is in fact misleading. I and my sisters would be happy for dad to remain there for the rest of his days if he so pleases.

What i want to sort out is how i execute my mothers will should dad choose to sell up sometime in the future. I know he fully intends to downsize at some point as he wants to move to a property less remote (currently in the sticks).

The will was in fact drawn up by a solicitor and i collected it from them after mum passed. It is a very short will but after the money matters are stipulated it says the following about the property:

"i give all that my share and interest in (the home***) to my trustees to hold the same as follows:

a) to allow my partner the said (dads name) to remain living in the property and occupying the said land for a period of three years from the date of my death providing always that he pays all the outgoings in respect of the property.................

b) at the end of the period of three years or earlier if my partner (dads name) no longer wishes to reside in the property then it shall be sold with vacant possession and my trustees shall hold the net proceeds of sale and give therefrom as follows:

states all the children's names and a sum of £50,000 each.

finally the balance to be given to my partner (dads name) absolutely.

so i ask again what shall i do is it a case of simply getting mums name taken off the deeds and mine placed on them as the executor (trustee). Then when dad wishes to sell i execute mums wishes with her share of the property?

please don't judge me for my mothers will as it was her last will and testament and all i want (and no more) is carry out her final wishes. I would like to swerve solicitors fees if possible as simply there is little cash available to fund it, all the money is in the home and therefore not available for release. If i had to engage a solicitor what might a bill for the above be???

thanks again.

are you sure it wasn't a homemade will? I ask for a few reasons,
1, the stipulation that her husband must sell after 3 years is surely not enforcable without his agreement.
2, she asks that the trustees hold the net proceeds of the sale and disperse it, surely not her choice as half the proceeds are her husbands.
3, she asks that each of the 3 children get £50k each from the sale, do you know if there is 300k equity in the house?
What if the house is valued at 250k or even 400k?

Surfbabe

Just to say - Solicitors don;t always get it right - I know as I have problems with my mums will - we have had to give it over to my solicitor to sort out the mess that her solicitor has left us with after inappropriate advice and wording.

at the end of the day we looked on it as being a worthwhile investment to get it right and what ever money we inherit is a bonus as none of us was expecting to get anything iyswim

McKneff

Your dad wouldnt be able to sell the house without you and your siblings agreeing to it.