Difficult co-executor
Options
SevenOfNine
Posts: 2,357 Forumite
2 executors named in Will of their deceased parent. One has not participated in anything so far but flatly refuses to renounce. Probate/tax forms will be ready to send off any day now (DiY - simple estate).
It's possible the Will gives the executors the power to delay the sale of property until they see fit (5 beneficiaries of which they are 2 the others are their adult children).
It has subsequently been looking suspiciously like the other executor was/is planning to simply wait for probate then 'delay sale' & move in to the property, interpreting what he 'thinks' the Will states.
We'll probably employ a solicitor to unravel the 'legalese' contained in the Will to be sure, and/or hand it to contentious will solicitors if needs be. Our own view is that you're legally obliged as executors to act in the best interest of all the beneficiaries, not just those of 1 beneficiary who also happens to be an executor with accommodation/financial problems.
Any ideas on what the normal process might be if it turns out that the Will does give permission for delayed sale, but the 2 executors can't agree that it should be delayed?
There are times when DiY isn't a good idea, didn't see this coming & walked right in. Can't choose your family! :(
It's possible the Will gives the executors the power to delay the sale of property until they see fit (5 beneficiaries of which they are 2 the others are their adult children).
It has subsequently been looking suspiciously like the other executor was/is planning to simply wait for probate then 'delay sale' & move in to the property, interpreting what he 'thinks' the Will states.
We'll probably employ a solicitor to unravel the 'legalese' contained in the Will to be sure, and/or hand it to contentious will solicitors if needs be. Our own view is that you're legally obliged as executors to act in the best interest of all the beneficiaries, not just those of 1 beneficiary who also happens to be an executor with accommodation/financial problems.
Any ideas on what the normal process might be if it turns out that the Will does give permission for delayed sale, but the 2 executors can't agree that it should be delayed?
There are times when DiY isn't a good idea, didn't see this coming & walked right in. Can't choose your family! :(
Seen it all, done it all, can't remember most of it.
0
Comments
-
What does the wording actually say with regard to the house?0
-
SevenOfNine wrote: »2 executors named in Will of their deceased parent. One has not participated in anything so far but flatly refuses to renounce. Probate/tax forms will be ready to send off any day now (DiY - simple estate).
It's possible the Will gives the executors the power to delay the sale of property until they see fit (5 beneficiaries of which they are 2 the others are their adult children).
It has subsequently been looking suspiciously like the other executor was/is planning to simply wait for probate then 'delay sale' & move in to the property, interpreting what he 'thinks' the Will states.
We'll probably employ a solicitor to unravel the 'legalese' contained in the Will to be sure, and/or hand it to contentious will solicitors if needs be. Our own view is that you're legally obliged as executors to act in the best interest of all the beneficiaries, not just those of 1 beneficiary who also happens to be an executor with accommodation/financial problems.
Any ideas on what the normal process might be if it turns out that the Will does give permission for delayed sale, but the 2 executors can't agree that it should be delayed?
There are times when DiY isn't a good idea, didn't see this coming & walked right in. Can't choose your family! :(0 -
Read up on self dealing by executors.0
-
Keep_pedalling wrote: »What does the wording actually say with regard to the house?
It says:
I give devise and bequeath all the residue and remainder of my property to my Trustees upon trust to sell call in and convert the same into ready money with power to postpone the sale calling in and conversion thereof for so long as they shall in their absolute discretion think fit without being liable for loss.
Met with our solicitor this afternoon (updating our own Wills) so took the opportunity to run our options past her. Without sight of the Will she says it doesn't sound like he's allowed to live in the house & it's an unlikely provision. Can take a look, interpret it all correctly & if we want she'll write to the other executor with a reminder of his responsibilities.Seen it all, done it all, can't remember most of it.0 -
SevenOfNine wrote: »It says:
I give devise and bequeath all the residue and remainder of my property to my Trustees upon trust to sell call in and convert the same into ready money with power to postpone the sale calling in and conversion thereof for so long as they shall in their absolute discretion think fit without being liable for loss.
Met with our solicitor this afternoon (updating our own Wills) so took the opportunity to run our options past her. Without sight of the Will she says it doesn't sound like he's allowed to live in the house & it's an unlikely provision. Can take a look, interpret it all correctly & if we want she'll write to the other executor with a reminder of his responsibilities.0 -
Yorkshireman99 wrote: »That is a completely standard clause that simply allows the executors to sell the property. No way does it allow anyone to live their. It will cosat money for her to write so I would DIY. The executor needs to be told he will be personally liable for hos actions.
Thanks YM99, she used a good phrase "responsible for his actions & omissions" & said things could end up in court, very expensive & waste of estate funds. Expect that will have some sway with him, he's the beneficiary with the greatest need of funds.Seen it all, done it all, can't remember most of it.0
This discussion has been closed.
Categories
- All Categories
- 343.4K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.8K Spending & Discounts
- 235.5K Work, Benefits & Business
- 608.4K Mortgages, Homes & Bills
- 173.2K Life & Family
- 248.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards