Distribution of assets after death

SCFC

My uncle is executor of my aunts estate. In her will it was her wish that her house be sold and the proceeds were to be split between myself my sister and his daughter but that he could live in it until his death. He has now decided that he wants to move into rented accommodation. He says he has been advised that he will be able to take a share of the monies from the sale of the house to pay his rent. Can he do this?
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silvercar

The wording is everything.

From what you posted, I don't see any right to rental income. I can see that the property couldn't be sold while uncle is alive, as he has the right to live in the property until death. So it would need to be available to him.

Unless he agreed to give up that right.....which he maybe could be persuaded to do...for the right cash incentive.

Mojisola

SCFC wrote: »

My uncle is executor of my aunts estate. In her will it was her wish that her house be sold and the proceeds were to be split between myself my sister and his daughter but that he could live in it until his death. He has now decided that he wants to move into rented accommodation. He says he has been advised that he will be able to take a share of the monies from the sale of the house to pay his rent. Can he do this?

It's essential to get legal advice from someone who has read the will.

It sounds like he was given a life interest in the property but no right to the asset itself but it depends on how the will was written.

maman

Mojisola wrote: »

It's essential to get legal advice from someone who has read the will.

It sounds like he was given a life interest in the property but no right to the asset itself but it depends on how the will was written.

Exactly. Your uncle can't just interpret the rules to suit. Obviously you don't want to fall out over it but I'd ask him for a copy of the will if you haven't already got one and then take advice.


I'm sure you can come to an arrangement like renting the house out if it can't be sold during his lifetime and letting him use the rental money or relinquishing the right but for a price. I can see why he wouldn't want to just move out so he has no home or means to pay for another. Is he moving because he's infirm or just hoping to make some money?

TBagpuss

You need to look at the will. The wording may provide an option for the house to be sold, and the capital invested to provide income for your uncle during his life time, or to downsize and buy a smaller property to be held on the same terms.

If the will does not provide for this, then you and your sibling, and uncle, could try to come to an agreement along similar lines.

SCFC

Yes that's right. The will states that he can live in the property until he dies and must keep it in good state of repair

SCFC

He's moving into somewhere small in sheltered accommodation

HOWMUCH

Are they man and wife or brother and sister, you just call then uncle and aunt?

pinkshoes

Did she own the whole house, or was she just passing her share of the house to the three of you?

E.g. He has half of the equity, and the other half is for you, their daughter and your sister.

dancingfairy

According to the will, he is legally allowed to stay in the house until he dies (if he wants), then the house is to be sold and split. The value of him staying in the house is obviously worth something to him.
The easiest thing is if you decide what a fair price for that would be - x amount of years rent in his new place?
Hopefully you can amicably agree something. Then you can go to the solicitors and get a deed of variation (I believe this is better than simply carving the money up yourself due to tax implications etc).
He can't simply do what he likes, no. Of course, he could decide to be awkward and rack up solicitors bills for everyone for the sake of it, so it's probably worth acknowlodging he's giving up his right to stay in the property and making him an offer, simply because if you're not careful any money could be eaten away by solicitors fees.
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