Money in trust from will

wwl

Hard_Up_Hester wrote: »

The solicitors have done very little work so far as they cannot contact the other executor, they have offered to renounce, but if they do this the other executor will not put the house in trust as the will states

Maybe you should remind the other executor that executors are personally liable for any financial losses.

Hard_Up_Hester

He has had the situation explained, he refuses to accept the information.

SeniorSam

Other executors could apply to get that awkward executor removed if he is not prepared to act in accordance with the way the Will is written.

Then the remaining executors can deal with the payment and deduct the appropriate amount from the awkward executors benefit when dealing with the estate.

Your solicitor can confirm and help you with this, but let the awkward executor have the option of paying up, in writing, or he can be removed. It's up to him.


When you say 'a considerable amount of money' what amount is this?
Sam

Keep_pedalling

SeniorSam wrote: »

Other executors could apply to get that awkward executor removed if he is not prepared to act in accordance with the way the Will is written.

Then the remaining executors can deal with the payment and deduct the appropriate amount from the awkward executors benefit when dealing with the estate.

Your solicitor can confirm and help you with this, but let the awkward executor have the option of paying up, in writing, or he can be removed. It's up to him.

Sam

I read that as the other executors are solicitors which would bring us back to the lack of liquid assets to pay them. If this is just a case of the son being out of his depth then maybe he could get one of his brothers to act as his attorney in dealing with the estate.

This is an example of why you should select you executors with care, and inform them in advance that you not only want them to be executor but to give them some idea of what your wishes are.

Hard_Up_Hester

We are looking at a possible bill of £15000 to £20000, split 3 ways, more money than we can afford to lose.
The son is not out of his depth, he is just being an A**ehole.
He has employed his own solicitor to be as difficult as possible.

SeniorSam

Hester, please let us know if any of the executors are solicitors?

I will leave it to others to comment as I retired over 5 years ago, but that figure for dealing with the Will and eventually distributing the estate seems highly excessive to me.

In any legal situation, if there is any solicitor making excessive claims, then you can ask for his accounts to be investigated by a professional body that helps protect against solicitors taking advantage of situations with clients who do not have an understanding. When working I recommended several clients to do this and their costs were dramatically reduced.

Many solicitors have 'tried this on' and I personally consider that the figures that have been given to you are well 'over the top'.

Can others, with more up to date knowledge, please comment.

Sam

Hard_Up_Hester

Thanks SS, two of the executors are solicitors, they are suggesting the figures as a worst case scenario if the son continues to be difficult.
We are not looking for our share of the estate, we are just looking to protect MIL's husband so we need to get the house into trust asap.

poppystar

If the house was left in trust in the Will then as I understand it the Will is the trust document, there is actually no need for anything else to be done. At least that is what the people on here kindly advised me and that our solicitor agreed.

In my case there is only me involved, inheriting my mothers half of the house, and my father has protected right to live in the house. The solicitor has advised simply that I should keep the Will as the trust document and that if we want we can inform the land registry but that that is not urgent. I am holding carefully on to the Will along with the solicitors letter agreeing that no more needs to be done.

Maybe check this out with the solicitors and get them to confirm whether there is actually any legal need for anything else to be done at this stage - in writing!

SeniorSam

poppystar is correct, that's why I cannot understand why you have been given such a high figure for the solicitors to simply distribute the estate when MIL's husband passes on.

Ask them how they justify such costs and what costs they have incurred to date that they require paying for? It will be an interesting answer I'm sure.

However, if the answer is not satisfactory, you can ask what the next step should be on this forum.

Sam

getmore4less

Hard_Up_Hester wrote: »

The solicitors have done very little work so far as they cannot contact the other executor, they have offered to renounce, but if they do this the other executor will not put the house in trust as the will states

The trust exists,

What is he planning to do?