Life tenant and executor legal expenses questions

Yorkshireman99

Keep_pedalling wrote: »

Did all the effected benificiaries sign this DoV?

If they did not then the DOV is invalid.

unforeseen

If the life tenant has 56% of the house, would that happen to be the percentage that the beneficiaries who agreed the DOV owned? The other 44% being owned by the beneficiaries who didn't agree?

unforeseen

Methinks the executor has made a complete b**ls up of this and could well be in deep doo doo

earlycomputers

Unfortunately the beneficiaries did sign this DoV which they were pressured into doing. They had no legal knowledge/understanding around the DoV, nor were advised to get legal advice prior to signing. They believed the executor was working in their best interest at the time and only realised after it was too late. And yes the 44% share belongs to the beneficiaries...

Yorkshireman99

unforeseen wrote: »

Methinks the executor has made a complete b**ls up of this and could well be in deep doo doo

Is rather than could be! Time for the book to be thrown at him.

getmore4less

If they signed off a DOV giving away a significant share, that share will no longer be in trust as that will have been gifted away.
DOV don't change wills they just make gifts look like that for tax reasons.

Making a claim on the basis we did not know what we were doing could get costly.

The mortgage situation will depend in the terms of the gift.

Only those with sight of the documents an the relevant knowledge will be able to establish the scope of a case.


The estate will be liable for costs until the court rules different.

Yorkshireman99

getmore4less wrote: »

If they signed off a DOV giving away a significant share, that share will no longer be in trust as that will have been gifted away.
DOV don't change wills they just make gifts look like that for tax reasons.

Making a claim on the basis we did not know what we were doing could get costly.

The mortgage situation will depend in the terms of the gift.

Only those with sight of the documents an the relevant knowledge will be able to establish the scope of a case.


The estate will be liable for costs until the court rules different.

Whilst the most common use of DOVs is for tax reduction it is not their only use. In this particular case it seems to have been used at least wrongly if not fraudulently. The correct beneficiary seems to have been wrongly deprived of their proper inheritance.

Keep_pedalling

Have you actually taken legal advice yet?

Any action you take could get very expensive, and even if you manage to get the DoV overturned there is no gaurantee you would get costs awarded against the executor, and even if you cost were awarded, it he/she does not have the ability to pay you may still have to meet them.

The benificiaries are adults, signing a DoV without taking advice is just nuts, and is going to make things exceedingly difficult for you.

nom_de_plume

Is the executor a professional or lay person?

With regards to the mortgage payment, as things stand, I would expect the beneficiaries to responsible for 44% of them. On the interest only aspect, I see no reason why overpayments could not be made to reduce the debt although calculating the share of the remaining interest, etc. could get complicated to say the least.

Yorkshireman99

nom_de_plume wrote: »

Is the executor a professional or lay person?

With regards to the mortgage payment, as things stand, I would expect the beneficiaries to responsible for 44% of them. On the interest only aspect, I see no reason why overpayments could not be made to reduce the debt although calculating the share of the remaining interest, etc. could get complicated to say the least.

Nobody but the owner, the supposed life tenant, has any liability for the mortgage. That rests solely with who ever took out the mortgage. The executor(s) are responsible along with those who signed the DOV for any losses the estate has suffered. Quite why the beneficiaries should have agreed to such an arrangements beggars belief.