Deferred payments for care & estates

fredsnail

Thanks for all the advice.

It is a problem I expect to have to deal with in the near future - will writer is still alive but no mental capacity.

The 3 main beneficiaries are siblings and there is ill feeling between them so I doubt that the 1 inheriting the house will agree to a deed of variation to suit everyone else.

I'm just trying to find an idea of how it would be dealt with because I think I'm likely to be asked by 1 or more of the siblings once they realise I'm an executor and what's contained in the will.

John_Pierpoint

As the executor and an ordinary individual, you are not allowed to charge for your time, but you can reclaim your expenses from the estate.

You are a trustee and the estate is the trust you are administering. You must always act to maximise the value of the estate, even when that might conflict with your interests as an individual.

You are expected to behave as a prudent man of business, to demonstrate this you can obtain professional advice.
When I was in your position I got written legal advice (it cost £350) from a STEP solicitor to spell out exactly what the will said and how that effected the individual beneficiaries, even though my own research and some help on this forum had already worked out the situation. (The will was defectively written, creating a partially intestacy and probably did not create the result that the deceased would have wanted).
It helps to be able to say "the law is the law".

So that is the way the cookie crumbles.

Similar thread here:
https://forums.moneysavingexpert.com/discussion/4569079

fredsnail

Thanks for the help - I will not benefit from this will as I'm just an executor so have no personal interest but will do things properly and get written advice when I need to.