Nice people thread part 4 - sugar and spice and all things

PasturesNew

silvercar wrote: »

I have a problem with drumming into my kids that they must never meet strangers off the internet and then going off and doing same myself.

Even though I reckon you lot are not any more nutty than me, its a bit hypocritical and a really bad example. Plus they would tease me forever more.

The difference is, nobody's queueing up to groom us old 'uns

Rinoa

tomterm8 wrote: »

Is it just me, or do other people find that the more they read pasturesnews will, the more confusing it is?

The wording is not at all clear to me. I think a solicitor needs to read the entire thing, and give an opinion on PasturesNew's questions, personally.

It's the wording around the section forming the trust that especially confuses me, as it is not clear what happens to the money in the trust after PN's mother dies.

It's fairly clear that the trustees can use the entire proceeds from the sale to purchase or rent a house or flat etc, but it doesn't appear they can use it to defray normal living expenses.

If it's a standard propery trust, which I'm 99% certain it will be, then the trust ends when PN's mother dies. The trust proceeds go into her father's residual estate and is distributed according to what that says ~ usually equal shares for children.

Whilst PN's mother is alive the trustees will be able to use the proceeds however they see fit for the benefit of her mum.

GDB2222

neverdespairgirl wrote: »

I appoint kids as executrices and trustees.... you and siblings are in charge, but can pay a solicitor out of the estate to help you. I give to my trustees all my estate and interest in my property it's all yours [you and siblings'] .... upon trust to sell the same and hold the proceeds thereof and the net income until sale for my wife .. for her life provided she survives me by 30 days and she may occupy the property for use as a residence as long as she shall desire 30 days after your father's death, you hold the money in the estate, and the proceeds of the house, for your mother's benefit ... my trustees shall not exercise the power of sale ... you can't sell the house unless and until your mother agrees my trustees shall have the power from the net proceeds of sale of the property to purchase or contribute to the purchase retain and improve any freehold or leasehold house or other dwelling for use as a residence for my wife for her life if you sell up, you are allowed to buy her another place to live out of the money, and improve it and maintain it for the rest of her life

Can I just add a couple of points (gulp, I better get this right as NDG is a lawyer), but I do deal with these will trusts professionally a lot. I am afraid that I do not think that your paraphrase of the will is complete, but based on what I expect is really there, the will means:

Provided your mum survives 30 days, she can benefit under the will and otherwise she gets nothing. She gets the use of Dad's 50% share in the house to live in rent-free as long as she lives. Alternatively, with her agreement it can be sold, and the 50% share of the sale proceeds needs to be invested and mum gets the income until she dies. Likewise, any other savings/investments in the estate, mum gets the income until she dies. If mum wants, the estate can buy a house for her to live in.

When mum dies, somebody gets whatever capital is left over in the estate, but you haven't reproduced that bit of the will, so I don't know who gets it. It's probably you and your siblings, between you.

misskool

we had kfc tonight (OH's treat night) and when I arrived home they forgot the side orders and the receipt.

Can i be bothered to go back out for it?

and no comment on the will, I have no idea what half of it means,

lemonjelly

vivatifosi wrote: »

I'm currently reading this:

http://www.amazon.co.uk/Worst-Date-Ever-Heart-throbs-Abominations/dp/0330457659/ref=sr_1_1?ie=UTF8&qid=1313734238&sr=8-1

I picked it up in the library when someone brought it back (I'd never heard of it) and felt it had a lot of merit. It's very hard to find a book that:

a) slates Liz Jones
b) is written by someone who has written scripts for BrassEye
c) totally takes the rip out of celebrity culture
d) and then goes to Africa for the more serious issue of dictators in Uganda.

Looks interesting Viva.

I've been searching for my Brasseye dvd for a week now. I've obviously put it somewhere safe. First I thought I could've lost it or loaned it, but I'm fairly sure that isn't so. After a couple of days I remembered another comedy dvd that I can't recall seeing. Sure enough, I've obviously found a home for all my comedy dvd's & can't recall where it is!:o

I'm a little 4n4l about ordering stuff. But it is doing my head in trying to remember where it is or find it!

lemonjelly

Pastures, you have to wait for 30 days since old deceased before you can act. Following that, the estate is yours & siblings, however you can't seel it whilst surviving old is alive & wishes to remain there.

Once the 30 days passes, if she wishes to move out, she can do so.

The LA may try arguing that she has a beneficial interest in the home, however as you continue to reside there (for now at least) and as you have lived the over 12 months, I believe that they will ignore the house in assessing whether she has to pay fees.

NB I'm typing this after reading up to post 1680, so there are a couple of pages of thread for me to catch up on. Therefore more may come out shortly...

lemonjelly

LydiaJ wrote: »

TBH I'm rather torn between my love of interesting words, which pushes me towards saying executrix, and my mildly feminist leanings which push me towards saying executor, on the grounds that gender has nothing to do with it. So I oscillate between the two.

I'm being summoned downstairs to eat the cake that the babysitter helped them make last night.

Did you get a Thomas cake too?:D

lemonjelly

lostinrates wrote: »

I have no such complication and prefer exeutrix. It trips off the tongue better, rather like dominatrix.

I just KNEW you were going to say this...:p

lemonjelly

neverdespairgirl wrote: »

I appoint kids as executrices and trustees.... you and siblings are in charge, but can pay a solicitor out of the estate to help you. I give to my trustees all my estate and interest in my property it's all yours [you and siblings'] .... upon trust to sell the same and hold the proceeds thereof and the net income until sale for my wife .. for her life provided she survives me by 30 days and she may occupy the property for use as a residence as long as she shall desire 30 days after your father's death, you hold the money in the estate, and the proceeds of the house, for your mother's benefit ... my trustees shall not exercise the power of sale ... you can't sell the house unless and until your mother agrees my trustees shall have the power from the net proceeds of sale of the property to purchase or contribute to the purchase retain and improve any freehold or leasehold house or other dwelling for use as a residence for my wife for her life if you sell up, you are allowed to buy her another place to live out of the money, and improve it and maintain it for the rest of her life

Of course, there are experts better in their knowledge than I. I hope I haven't contradicted NDG too much. I'll find out when I catch up with the thread.

PN you were olds carer. Therefore the house should be ignored when assessing other old for care home fees.

neverdespairgirl

GDB2222 wrote: »

Can I just add a couple of points (gulp, I better get this right as NDG is a lawyer), but I do deal with these will trusts professionally a lot. I am afraid that I do not think that your paraphrase of the will is complete, but based on what I expect is really there, the will means:

Provided your mum survives 30 days, she can benefit under the will and otherwise she gets nothing. She gets the use of Dad's 50% share in the house to live in rent-free as long as she lives. Alternatively, with her agreement it can be sold, and the 50% share of the sale proceeds needs to be invested and mum gets the income until she dies. Likewise, any other savings/investments in the estate, mum gets the income until she dies. If mum wants, the estate can buy a house for her to live in.

When mum dies, somebody gets whatever capital is left over in the estate, but you haven't reproduced that bit of the will, so I don't know who gets it. It's probably you and your siblings, between you.

I agree with you entirely. But as you say, the whole will isn't there, so we can't be sure.

I don't do probate - so correct away! I don't think we're saying anything different, really, though.