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My Late Mum's Will-Worried My Solicitor might Keep My Money-Please Advise Me. - Page 6

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My Late Mum's Will-Worried My Solicitor might Keep My Money-Please Advise Me.

edited 16 July 2016 at 1:06PM in Deaths, Funerals & Probate
109 replies 21.5K views
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  • Marvel1Marvel1 Forumite
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    I noticed you mentioned about the £25K share which was your Mum's savings, as this is not part of the house sale, I think you should have had this sooner, can anyone confirm?
  • MojisolaMojisola Forumite
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    cjdavies wrote: »
    I noticed you mentioned about the £25K share which was your Mum's savings, as this is not part of the house sale, I think you should have had this sooner, can anyone confirm?

    It would be possible to have an interim payment but, if the beneficiary is on means tested benefits, it makes more sense to hold off until the entire estate is sorted out and give one lump sum.
  • If you find moving stressful and difficult, I really think you should reconsider moving into the private sector where you'll have little security and might have to move every 6 months.
  • edited 17 August 2016 at 3:44PM
    SystemSystem
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    edited 17 August 2016 at 3:44PM
    cjdavies wrote: »
    I noticed you mentioned about the £25K share which was your Mum's savings, as this is not part of the house sale, I think you should have had this sooner, can anyone confirm?
    Yes my mother also has 77k in her savings which she has also left to us.

    Me and my sisters get a third of that also which is 25k each along with our third share from the money of the house sale.

    But my solicitor has arranged for the 25k to be sent to me at the end of administration when the house is sold.

    The reason for this is because if I took the 25k now my benefits would be stopped.

    And we don't know when the house will be sold.
    So it is for this reason my solicitor has arranged for the 25k to be paid along with the money from the house.
    So I will get that at the same time my money from the house is paid to me.

    To update everyone-The house has now found a buyer but my solicitor said is not legally sold as yet.
    See my thread here-
    http://forums.moneysavingexpert.com/showthread.php?t=5502980


    I have just come off the phone from my solicitor-
    he has told me I am to pay a third of the estate agents fees and I must also pay a third of my sisters solicitors they are using to deal with the sale.

    And my solicitor has also reassured me I have not run up a big legal bill with him.

    The house has found a buyer and being sold for 285k.
    Estate Agents Fees are-£3,562-
    which means I will pay my third of that-
    About £1100 or just over
    Then there is my sisters Solicitors fees in conection with the sale about
    £1000 I can expect to pay, my solicitor thinks.

    Then there is my solicitors fees between £2000 or £3000 but if I have rung up a bigger bill it could be about £5000 but not over he says.

    A third of 285k is 95k for me plus my 25k-
    So if the sale goes through I should get 120k including my 25k.
    Then with the fees to come off I can expect to take home with me
    about 115k but if I have rung up more costs worse way I wil get at least 100k.




    But that is only an estimate as we don't know if or not that sale is going to go though but my solicitor thinks I should get my money in a few months.
    If all goes well.

    To answer the other question about my housing-
    It is very difficult to get a HA exchange.

    Some people have been on Homeswaper for years and not got anything.

    Also I cannot move in a week as I said.
    So my only real change of getting out of here is to rent private.
    But I will have the money and when I am up there in Liverpool I could look around to buy a place, maybe.
    But it will get me out of here.
    Which is what I want.
  • MojisolaMojisola Forumite
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    annbarbs wrote: »
    So my only real change of getting out of here is to rent private.
    But I will have the money and when I am up there in Liverpool I could look around to buy a place, maybe.

    It might be worth getting somewhere to rent in Liverpool for six months or even a year to give yourself time to look around and see if there is anything suitable for sale.

    You don't need to rush into anything - with a move to a new place and some financial security, time is on your side.

    It may be worth looking at supported housing for people with MH problems - that would take away the stress of worrying about a LL giving you notice to leave or the worry about affording maintenance and repairs on your own place.
  • edited 17 August 2016 at 5:09PM
    SystemSystem
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    edited 17 August 2016 at 5:09PM
    No I won't get supported accommodation because they said I don't meet the criteria.
    And anyway I would not want that. I think I am better off living independent.
    In supported accommodation there are rules and you a restricted in what you can do.
    Where as in a flat you can come and go as you please and you are independent and have more freedom and you have got your privacy.

    A Council or HA flat is secure as you can stay there for life if you want.
    But what's the point if I am not happy here?
    And I cannot do the home exchange as they make you move in a week of signing the papers and I can't.
    Well nobody can do that.
    And if I stay here I will have to pay the£608 per calendar month rent and that will eat up my inheritance more quickly.
    And I don't want that.

    So my only option is private rented.
    I have had private rented before and I was in that private flat for 9 years.
    So it's not true that a private landlord will kick you out after 6 months.
    Yes it is a shorthold tenancy with a 6 months lease.

    But as long as you are happy there and the landlord is happy with you the landlord or letting agent will renew your lease after 6 months and there after for as long as you want to stay there.

    Even if I do get a home swap with the HA, most HA tenancies are now only shorthold assured not assured tenancy for life as my flat is.
    As you know when you exchange your HA home, you also take on the tenancy for the new home.
    Which might not be the same as the tenancy in your old HA home.
    So a HA exchange is not so different.
    Unless you can get another assured tenancy but a lot of swaps are not.

    So where would I be better off?
    Any I cannot move in a week as I said.

    But even if I say here in my HA flat for a while.
    My 100k won't run out so quickly-even if I am paying the £608 a month rent.
    As you said with that much money, time will be on my side.
    But I hope to move as soon as I can.
  • Savvy_SueSavvy_Sue Forumite
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    annbarbs wrote: »
    So maybe buying a flat is a better option than renting from a private landlord.
    As then I would at least own my own home and would never have to worry about being evicted.
    And could also sell it to get myself more capital in the years to come.
    What do you think?
    Maybe. There can still be a fair amount of stress involved in buying, owning and maintaining your own flat. And a flat can be with worst of both worlds, with no choice about who your neighbours are, and usually a management group who have to decide together about communal repairs which can be pricey.
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  • Newly_retiredNewly_retired Forumite
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    I think your best plan, when you get the inheritance, is to move into a cheaper rental in Liverpool, as you prefer to be there, and give yourself time to establish your MH support network, then look for somewhere more permanent if you are settled there.
  • SystemSystem
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    Savvy_Sue wrote: »
    Maybe. There can still be a fair amount of stress involved in buying, owning and maintaining your own flat. And a flat can be with worst of both worlds, with no choice about who your neighbours are, and usually a management group who have to decide together about communal repairs which can be pricey.

    Yes you are right.
    If you buy a flat in a block there is normally a management company or landlord who owns the building and communal area freehold.

    So then you only own your flat but are still very much restricted to other things you can do.

    In blocks many freeholders won't let you put up your own satellite dish for example.

    And you would only be able to carry out repairs inside your flat.
    But if there were any problems outside, such as no lights in the communal hall or the waterpump not working, you would still be at the mercy of the freeholder or management company.
    And often they don't maintain the building.

    I speak from first hand experience. Because my last flat was with a landlord that the council put me with.
    The letting agent which was managed by the council were fine in doing repairs in my flat.

    But they could not touch the communal area because that was managed by a management company.
    And the freeholder did not maintain the communal areas at all and I and other tenants living there had cockroaches and a lot of other problems.

    Because the freeholders did not look after the building, but the council could not do anything because my letting agent could only do repairs in my flat.Not the communal areas.

    So if I was buying a flat I would get one with my own front door that leads out into the street.
    As if you buy a flat in a block, you are no better off than what you would be if you were renting.

    Yes there is always a risk anywhere that you could get problem neighbors but that's true even if you buy a house.
    I am lucky in that I have good neighbors who are quiet and friendly and don't make any noise.
    At least that's something.
    I think your best plan, when you get the inheritance, is to move into a cheaper rental in Liverpool, as you prefer to be there, and give yourself time to establish your MH support network, then look for somewhere more permanent if you are settled there.
    Yes that's what I want to do.
    Move up North where rent is cheaper but it's very difficult to get a home swap with the HA.
    So it will have to be a private flat with a private landlord or letting agency.

    It will mean giving up my permanent status as a HA tenant.
    But most private landlords will review you tenancy every 6 months as long as you pay the rent and don't break the tenancy agreement.
    Then maybe I might be able to buy a flat later and that would be permanent.
    Though what I could get would depend very much on how much money I get from my inheritance.
    There is a possibility that the money might not be enough for me to buy a flat.

    In which case I will have to rent, but that's not the end of the world.
  • AnotherJoeAnotherJoe Forumite
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    annbarbs wrote: »
    it's very difficult to get a home swap with the HA.

    If its very difficult, that means that it is possible. So why not use the time you have waiting, to see if you can find someone who wants to swap? If they want to and have to wait a bit I cant see thats likely to be an issue for them if its difficult, they will wait.
    Put the wheels in motion, whats to lose?
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