Who gets what in this will.

citizen_khan

Ok.
I spoke to the solicitor who prepared this will today for the first time.
I asked the same basic question as i asked here and was told i will inherit nothing at all either now or in the future.
The 2 other executors have decided without telling me they do not want the trust to be set up at all so have asked the solicitor to appoint one of their colleauges (at the same firm of solicitors) as a fourth executor (no idea why) to dismantle the trust and pass the entire estate to exec 1 (the husband). So even when he dies it will go to whoever he leaves it too he will have full and final control over the entire estate which is mostly my cousins. With her beneficiary as there is only 1 me getting nothing unless he leaves it to me (which i doubt as he has family on his side ).

He says this is what the letter of wishes says. He wouldnt tell me what is in it, So i demanded he send me this letter (he is other side of the country) and that i have no idea as to what i have signed so far and am getting concerned as to just how he is dealing with this. He said he was assured by exec 1 that i was in full knowledge of all that has gone on so far. (Which is far from the case).

I know its not easy being so far away from it all but i think he should have at least made sure i was aware of what is going on
as he speaks to exec 1 regularly and we 3 executors all live this end of the country now.

3 things are really bothering me now
1/why name me in her will as a beneficiary (The only beneficiary apart from her husband) if i get nothing
2/ why go by a letter of wishes if its not a legal document
3/ why clearly without my knowledge as an executor, appoint another executor and what purpose can that serve.

I should get this letter of wishes tomorrow and even though i got my own he says he is sending me a copy of the will.

BobQ

This seems a complex will. I suggest that you await the documents and then consult your own solicitor for a face to face explanation.

I suspect that the estate is left to her husband unless he died first in which case you would be a beneficiary. But as he survived you this did not apply.

SevenOfNine

We have similar trusts set ups in our Wills. Executor is the surviving spouse, but trustees are the surviving spouse AND both our sons. 2 of the 3 cannot simply decide to dispense with the trust, the decisions can only be made by all 3.

After one or the other of us has karked it, the point of the trust was to 'ringfence' part of what we'd worked for within the trust, protecting it from remarriage (whereby our sons could end up with nothing), or care home fees.

Surviving spouse can place an IOU in the trust (this is included within our Will), so they can use 'money' ringfenced within it to maintain a decent standard of living, but when they die the IOU must be repaid before anything else. Even if survivor remarries or writes a Will leaving everything to Battersea dogs home.....the IOU must be repaid from his estate FIRST. So unless surviving spouse p! sses every single penny they have up the wall before they die, our sons will always get something.

As a named executor & trustee you have the right (& the duty) to see EVERYTHING. Sadly, you have absolutely no clue what you've 'signed away'! You may have relinquished the role of both executor & trustee, frankly I'm astounded.

It seems to me that your best bet now is to consult an independent solicitor to obtain copies of everything, worth the financial outlay IMO, because it seems the deceased did plan for you to have an inheritance, AFTER the death of the surviving spouse.

........And stop signing things, by doing so I think you may have been royally stitched up by the other trustees.

TBagpuss

You need to know what you signed. Trustees have to act in the interests of the beneficiaries of a trust. It is certianly possible to dismantle a trust, where all beneficiaries atre in agreement (and adults)

I think it is essntial that you put, in writing, to the solicitor and to the other trustees that you do not consent to the trust being wound up and that if they have been presented with any documents purporting to show your consent to such an arrangement they were signed under false pretences and that, for the avoidance of cdoubt, you revoke any such consent.

See a solicito of your own as a matter of urgency. Look for one whose firm offers both contentious and non-contentious probate.

It may well be that what your relative wanted to achieve was for her husband to have the benefit of her assets in his lifetime and for the balance to go to you on his death, with the trustees being able to use the capital to increase income for him if he needed it in his life time, but you need to see all of the documents and to then make an informed decision.

I would ask the solicitor to send you immediately a copy every document which he holds which purports to have been signed by you.

Mattygroves2

TBagpuss wrote: »

You need to know what you signed. Trustees have to act in the interests of the beneficiaries of a trust. It is certianly possible to dismantle a trust, where all beneficiaries atre in agreement (and adults)

To break a trust you only need the agreement of the Trustees not the beneficiaries. Discretionary Trusts (which is what this looks like) tend to have potential beneficiaries who aren't yet born so you can't get agreement of all beneficiaries.

Agree that OP needs to find out what they signed as that is critical and also needs to take everything to an independent solicitor.

citizen_khan

Thanks to BoBq and TBagpuss and Mattygroves 2 .

I think from now reading the letter of wishes the paragraph by TBagpuss sums it up exactly

( It may well be that what your relative wanted to achieve was for her husband to have the benefit of her assets in his lifetime and for the balance to go to you on his death, with the trustees being able to use the capital to increase income for him if he needed it in his life time, but you need to see all of the documents and to then make an informed decision).
The solicitor phoned today stating he was now anxious and concerned after my phonecall that things should have been done differently by him
ie. Not relying on exec 1 to say i was up to date with everything that has been signed and agreed and give my consent to the winding up of the trust and transfer of all assets solely to exec 1 .
He sounded very apologetic and give off vibes that he knew he has not done this right and is looking for a way out of what he called a bit of a mess.
He suggested he contact exec 1 who has been hassling him to get this completed asap to ask why i havn't even seen the will let alone understand the implications .
I said to hold off that for a day until i get in touch with him as i have a day off tomorrow thurs and i am going to see exec 1 on his own and give him a chance to explain to me why he has done what he has.
I will give him the benefit of the doubt (still) i know i know .
He doesnt know that i know a lot more than he thinks.

I certainly wont go in all guns blazing and demanding anything but will just take as long as i need to gently get the answers to questions that i should have when this probate was first started.
If the answers are not satisfactory i will tell him that i am going to revoke any documents i have signed and wish the process be started from the beginning and i certainly will not agree to the disolution of the trust.
Anyway i will report back soon.
It may not be tomorrow as i am out till late tomorrow .
Thanks again for all the valuable input it makes me think i am on the right track.

C.K.

g6jns_2

citizen_khan wrote: »

Thanks to BoBq and TBagpuss and Mattygroves 2 .

I think from now reading the letter of wishes the paragraph by TBagpuss sums it up exactly

( It may well be that what your relative wanted to achieve was for her husband to have the benefit of her assets in his lifetime and for the balance to go to you on his death, with the trustees being able to use the capital to increase income for him if he needed it in his life time, but you need to see all of the documents and to then make an informed decision).
The solicitor phoned today stating he was now anxious and concerned after my phonecall that things should have been done differently by him
ie. Not relying on exec 1 to say i was up to date with everything that has been signed and agreed and give my consent to the winding up of the trust and transfer of all assets solely to exec 1 .
He sounded very apologetic and give off vibes that he knew he has not done this right and is looking for a way out of what he called a bit of a mess.
He suggested he contact exec 1 who has been hassling him to get this completed asap to ask why i havn't even seen the will let alone understand the implications .
I said to hold off that for a day until i get in touch with him as i have a day off tomorrow thurs and i am going to see exec 1 on his own and give him a chance to explain to me why he has done what he has.
I will give him the benefit of the doubt (still) i know i know .
He doesnt know that i know a lot more than he thinks.

I certainly wont go in all guns blazing and demanding anything but will just take as long as i need to gently get the answers to questions that i should have when this probate was first started.
If the answers are not satisfactory i will tell him that i am going to revoke any documents i have signed and wish the process be started from the beginning and i certainly will not agree to the disolution of the trust.
Anyway i will report back soon.
It may not be tomorrow as i am out till late tomorrow .
Thanks again for all the valuable input it makes me think i am on the right track.

C.K.

You are unlikely to be able to revoke the documents. However you do need to press the solicitor