changing solicitors

ameliarate

After putting in a complaint about the Solicitor, things now appear to be progressing nicely. We are arranging for the Discretionary Trust to be transferred to a Life Interest Trust with professional trustees. We have calculated that the costs will not be much more than we would have had to pay for fees for legal and financial advice anyway and I think the tax is actually slightly less.

As beneficiaries under the Discretionary Trust the solicitor advised us that we were able to receive an amount from the estate, which we hadn't realised, and so in a few weeks we should be receiving this. It is less than we are apparently entitled to but this is our choice.

I finally feel able to breathe knowing that I can rid myself of the responsibility given all the trouble there has been over this matter.

Thanks for all the advice, especially you, Senior Sam.

SeniorSam

Thank you Amelia. In reading what you say. I am wondering if you have in fact understood the way the Discretionary Trust works. The Trustees can distribute the estate as they think best, which is usually the way the Will has been written. However, they have discretion to act 'properly'

The Interest in Possession Trust, particularly managed by Professional Trustees, will be very costly, but as long as you have understood that and are happy with such arrangements, I can only wish you good luck for the future.

If in any doubt, don't be afraid to ask a few more questions.

Sam

ameliarate

SeniorSam wrote: »

Thank you Amelia. In reading what you say. I am wondering if you have in fact understood the way the Discretionary Trust works. The Trustees can distribute the estate as they think best, which is usually the way the Will has been written. However, they have discretion to act 'properly'

The Interest in Possession Trust, particularly managed by Professional Trustees, will be very costly, but as long as you have understood that and are happy with such arrangements, I can only wish you good luck for the future.

If in any doubt, don't be afraid to ask a few more questions.

Sam

yes I do understand all that but the problems with my nephew who is the main beneficiary and who has mental health and drug issues were beginning to affect my health and this is the only real option.

Thanks again.