Been screwed over inheritence!

no1catman

floss2:
How do you come to 110% ? 39 + 36 + 25 = 100!
25 + 5 (SIL) + 9 ( three grandchildren x 3) = 39,
25 + 5 (DIL) + 6 ( two grandchildren) = 36,
and one remaining 25.

That was the %s in the will, sister bought the house (at a low aat a knock-down price), and didn't get as much in cash terms because her amount was use to finance the rest.

If I had been consulted about the estate agents valuation for probate purposes, and given details of the will without having to get it myself, perhaps I wouldn't feel so bad!!

pearl123

Did anyone tell you how much the house was going to be sold for?

zzzLazyDaisy

OP have you seen a copy of the will?

Ask your brother for a copy, but if you have difficulties, you can get a copy from the probate office as it is a public document.

Most wills in this situation state that the executors are to sell the assets and then share the proceeds among the beneficiaries. That is the first thing to check.

If I am right, then the executors would not need to involve you in the house sale. If you believe they have acted fraudulently in valuing the house you should ask to see copies of the valuations.

Do you know who were named in the will as executors? Power of Attorney is irrelevant as that dies with the donor. What matters is what the will says. It is unlikely that you were named as the will would have to go to probate and the executors have to attend and present ID. Any named executor who chooses to renounce the role must confirm this in writing.

To be honest I suspect that you are probably overestimating the value of the house at the time of your father's death. Also you need to factor in the fact that a house in poor condition needing a lot of work and expense is likely to be on the market for some time. During this time the executor has a duty to maintain the fabric of the house so there would be ongoing expenses such as insurance, heating bills (to prevent burst pipes) cleaning and gardening bills and so on, plus Estate Agents fees if it was sold on the open market. All of these expenses plus any unforseen repairs would ultimately come out of the beneficiaries inheritance. And such a sale would have delayed the distributing of the will for some time - possibly months or even years, unless the price is drastically reduced to sell in a reasonable time. The property can even end up going for a song at auction.

So you see, the valuation on the house may not have been as high as you think, when taking into account all the additional considerations.

sassyblue

no1catman wrote: »

But what next at Christmas, given that no replies to emails sent (though obviously I don't know if they've been read).

Sorry, but l can't see who you've emailed and not had a response from. I'm not sure we should offer advice on that.... what contact do you want from them from hereon in? There's your starting point....

zzzLazyDaisy

[QUOTE=no1catman;

If I had been consulted about the estate agents valuation for probate purposes, perhaps I wouldn't feel so bad!![/QUOTE]

If you were not an executor, they were not obliged to consult you.

EDIT - that is on the assumption that the will directs that all assets be sold and the money distributed - you haven't answered that question yet.

RAS

Mojisola wrote: »

Does the will say that house should be sold by the executor and the money distributed or that all of you become owners of the house?

Have you got a copy of the accounts yet?

Have youi seen a copy of the accounts? Did you sign them off?

no1catman

zzzLazydaisy:
Yes, I got a copy of the Will from the Probate Office.
Yes, I knew who the Executor would be.
Granted, the sale of the house as it proceeded did hurry things up. Though the house was in need of 'modernising' it was not dilapidated!

sassyblue:
I thought it was self-explanatory in reply to hcb42 reply) emails I've sent are irrelevant (I'm not going to publish them) suffice to say ones sent for more info about the house price and in August (when the thread started), and more recently - after getting the Will have not been answered.
Hence, a brief 'poll' to see if I would be under or over reacting!?

RAS:
No, apart from having the chq., I haven't had anything else - had to get and pay for Will myself.

floss2

no1catman wrote: »

floss2:
How do you come to 110% ?

no1catman wrote: »

... Three at 25% 75, sil & dil at 10% ea 20, and five grandchildren at 3% ea 15....

75 + 20 + 15 = 110

floss2

no1catman wrote: »

.... Though the house was in need of 'modernising' it was not dilapidated!

Modernising can mean different things to different people - and to surveyors, who are trained to highlight less visible but costly works needed to a property that has not been updated for some years. Have you been told what works were needed, as most essential works would have needed either to be done before putting the house on the open market, or a suitable reduction made to the selling price.

no1catman

floss2 wrote: »

75 + 20 + 15 = 110

OK, my mistake should've 5% ea or just 10%.