Other Executors family trying to get Power of Attorney

Molly2473

Probate office have asked me to call back tomorrow morning to discuss will let you know ..

Molly2473

Office of guardian opg 100 form to request informaton

Molly2473

The Probate office don't seem keen on reissuing a new grant. They think I should continue on my own and prove other executors mental incapacity by way of a medical report and they think this should suffice. But will reluctantly reissue if it becomes a problem

Saltwater_2

What do you still have left to do? As long as you have closed the bank accounts and sorted the land you should be able to finish the estate without the other Executor. You won't need another Executor just to sign the estate accounts.

I am not saying that one executor can just revoke the Grant of another, but if the other executor has lost capacity then the probate registy will revoke the Grant and help you obtain a new one.

If you do find you need another Grant you will need to get a medical opinion as to whether the other executor has capacity in order to send to the Probate Registry before they progress the matter. It is not a straight forward application but they will walk you through it.

Molly2473

Hi
I'm back here!
We have had an offer from my late fathers partners children to buy out our interest in the property jointly owned. They have POA for her and she had lifetime right to reside (including rent) she moved out in feb. to care.
It will be in excess of property valuation submitted for probate. It will be 5 years in January that my father passed away. ( time may be relevant to question)

Q- Is there a further ( all paid and file closed) IHT liability or does it fall under capital gain and any way of minimising this?

Thanks for helping.

Crabapple

When you say the property is jointly owned, does that mean she has a one half share and the other half effectively owned by the estate, but subject to her having a right to live in the house?

In any event you need to get an up-to-date valuation and agree a fair price for the estate's share of the property (agree with the beneficiaries of that share).

If the house is subject to a life interest the tax position is a bit more complex and perhaps someone else would have a view. I would think there is no IHT but could well be CGT. There are various allowances against CGT. I'd suggest contacting a tax specialist though.

Just wondering, are the family using the PoA to buy the property or doing it with their own funds. It would seem a little bizarre to buy a property for someone who is already in residential care and I can't see how it would be in her best interests (although it might well be in theirs to have a property rent and potentially mortgage free). That's not your problem though!

Molly2473

Crabapple wrote: »

When you say the property is jointly owned, does that mean she has a one half share and the other half effectively owned by the estate, but subject to her having a right to live in the house?
Yes
In any event you need to get an up-to-date valuation and agree a fair price for the estate's share of the property (agree with the beneficiaries of that share).
Done
If the house is subject to a life interest the tax position is a bit more complex and perhaps someone else would have a view. I would think there is no IHT but could well be CGT. There are various allowances against CGT. I'd suggest contacting a tax specialist though.
Ok
Just wondering, are the family using the PoA to buy the property or doing it with their own funds. It would seem a little bizarre to buy a property for someone who is already in residential care and I can't see how it would be in her best interests (although it might well be in theirs to have a property rent and potentially mortgage free). That's not your problem though!

They want the rental income I guess and to protect their inheritance

getmore4less

start with have they offered enough although it is probably in your interest to release the funds joint ownership of a rental will be a nightmare.

John_Pierpoint

I think you are getting confused - or I am !

The confused elderly female executor needs to stand down, while she still has the capacity to do so. Your brother then takes her place, though he is not ideal as he may be beyond the reach of English law. The two of you could appoint another trustee for the estate if needed.

You then appear to have a life interest ( interest in possession) trust to administer on behalf of the elderly female. It depends what the will says but perhaps the property should be rented out and she gets the rent?

What her children do to their mother is really not your concern, unless it is self evidently criminal; in which case the Old Bill should take over.

Molly2473

Hello
Question for you.
My father and partner weren't married ( may be relevant) so do all his possessions pass to her automatically excluding what was named in The Will. Items owned by my father before they met are they justified in doing so.