Six months delay on distribution of estate

getmore4less

Don't think that is relevant here this is not a joint asset.

DandelionPatrol

lonewaiter wrote: »

Evening all,

Just realised that:

"The Inheritance and Trustees' Powers Act 2014 (“the ITPA 2014”) received Royal Assent on 14 May 2014 and is expected to come into force on 1 October 2014. The ITPA 2014 will make several significant changes to the 1975 Act (as well as the Administration of Estates Act 1925 and the Trustee Act 1925)."


"However, this 6 month time limit is removed by the ITPA 2014 and the Court will be able to treat the deceased's share of such jointly owned property as part of the deceased's net estate to such an extent as the court considers to be just in all of the circumstances of the case.




[In fact, these changes could be worse for me, but I want to understand.]

In context, the full article http://www.charlesrussellspeechlys.com/updates/publications/litigation-dispute-resolution-new/the-new-horizon-for-claims-under-the-inheritance-provision-for-family-and-dependants-act-1975/

Reading this article it seems hardly relevant to your circumstances. As the property is 50% mother's and 25% each to you and your sibling, it must be held 'tenants in common' rather than 'joint tenants'. As such, it is not really a joint asset ???

As I understand the article, the thrust of the legislation is to protect the child of a deceased person who holds property 'Joint Tenants' with a partner who is step parent of the child in question. In such a case, the property is outside the estate of the deceased person and passes directly to the partner and the child gets nothing. The Act gives the court discretion to set this aside. I don't think this applies to you.