Flowchart Will

Malthusian

Since when do the beneficiaries of a Will have the power to stop the executors selling a house at market value?

Mojisola

Silvertabby wrote: »

When we made our Wills or solicitor told us that under no circumstances should we leave a % to named charities.

If we did that, the charities could drag things out for months by refusing to authorised the sale of the house in case a better offer (and therefore a higher % cut for them) came along.

Our solicitor advised the same thing. I would have preferred a % because of the possible problem Malthusian highlights.

We had left some charities set sums but will have to keep an eye on our estates - if care home fees eat into our estates, I don't want the charities to end up with donations while our kids are left very little.

Malthusian - our solicitor knew of cases where solicitors from charities had tried to get larger amounts from the executors by claiming that properties could have been sold for higher prices.

Yorkshireman99

Malthusian wrote: »

Since when do the beneficiaries of a Will have the power to stop the executors selling a house at market value?

They don't! The greedy, some might say unscrupulous, behaviour of charities is why I have left only one small bequest to a charity.

Yorkshireman99

Silvertabby wrote: »

When we made our Wills or solicitor told us that under no circumstances should we leave a % to named charities. If we did that, the charities could drag things out for months by refusing to authorised the sale of the house in case a better offer (and therefore a higher % cut for them) came along.

Charities have no power to do that. It is solely up to th executor to decdide.

Malthusian

Mojisola wrote: »

Malthusian - our solicitor knew of cases where solicitors from charities had tried to get larger amounts from the executors by claiming that properties could have been sold for higher prices.

I have to defer to the experience of your solicitor (and Silvertabby's). But as YM says, they have no power to stop the sale. After the estate has been settled, they could sue the executors for selling the property at below market value - but if the executors have done their job at all properly, and the property has been independently valued and sold on the open market, the chance of it going to court, let alone the charity succeeding, should be virtually nil.

I'm well aware of how predatory charities can get over people's Wills and I have no intention of leaving money to any (if I want to give money to charity I'll do it when I'm alive). It would be more useful if your solicitor told you what charities were involved so you could avoid leaving them any bequest at all.

Mojisola

Malthusian wrote: »

I have to defer to the experience of your solicitor (and Silvertabby's). But as YM says, they have no power to stop the sale.

After the estate has been settled, they could sue the executors for selling the property at below market value - but if the executors have done their job at all properly, and the property has been independently valued and sold on the open market, the chance of it going to court, let alone the charity succeeding, should be virtually nil.

I'm well aware of how predatory charities can get over people's Wills

I agree - they don't have the power to interfere - what some do is to emotionally blackmail grieving people into handing over more money than the eventual % percentage they are entitled to.

Some people pay up just to stop the harassment - I think it's akin to the pressure put on contributors to increase their monthly donations or make extra payments and it would be good if one of the consumer programmes would look into it and name names.

Yorkshireman99

Mojisola wrote: »

Our solicitor advised the same thing. I would have preferred a % because of the possible problem Malthusian highlights.

We had left some charities set sums but will have to keep an eye on our estates - if care home fees eat into our estates, I don't want the charities to end up with donations while our kids are left very little.

Malthusian - our solicitor knew of cases where solicitors from charities had tried to get larger amounts from the executors by claiming that properties could have been sold for higher prices.

Trying to get more and actually forcing the executors to do so are very different things. I would give very short shrift to any beneficiary who tried to bully me as executor in any way. Being a lay executor can be a thankless task or be very satisfying if done well. Getting the beneficiaries on side from the beginning is crucial.

Mojisola

Yorkshireman99 wrote: »

Trying to get more and actually forcing the executors to do so are very different things.

I would give very short shrift to any beneficiary who tried to bully me as executor in any way.

I have no doubt that's the case but it does work with other people and it's horrible pressure put on people at a vulnerable time and the charities that do it should be ashamed.

no1catman

Regarding Post 10 - I wouldn't make it conditional on 'Aunt Ethel's death', but on the size of the estate - which could be dramatically different after the 'inheritance.

Interesting about the possible problems with % with for example charities, and such problems could happen with others too. But if you only stipulate £s there may be an amount left over! When my father died, the estate was divided up by %, I have about five charities for mine - one is even third choice executor.

Yorkshireman99

no1catman wrote: »

Regarding Post 10 - I wouldn't make it conditional on 'Aunt Ethel's death', but on the size of the estate - which could be dramatically different after the 'inheritance.

Interesting about the possible problems with % with for example charities, and such problems could happen with others too. But if you only stipulate £s there may be an amount left over! When my father died, the estate was divided up by %, I have about five charities for mine - one is even third choice executor.

Making a charity executor is bad news. They will almost certainly delegate it to a solicitor with the attendant costs.