Splitting the Assets

Yorkshireman99

PrettyWoman wrote: »

SIL is very well off. With her husband owns two susbstantail properties outright, three grown up sons who have all flown the nest. All privately educated, all been to university and left with no student debt. She has never had to work. She spends approximately third of her time on holiday.

We live in a normal town house, two boys state educated, both still at home (19 & 17), I’ve always worked full time and contributed equally to our household.

In which case you should perhaps just be grateful for the SIL’s generosity. As far as I can see you don’t actually know what conversations have taken place between them.

Tom99

Yorkshireman99 wrote: »

In which case you should perhaps just be grateful for the SIL’s generosity. As far as I can see you don’t actually know what conversations have taken place between them.

From what you say of SIL's financial situation you are not robbing the poor and the gift was of her own free will, so why not just let the matter rest there, no point stirring up trouble just for the sake of it.

Yorkshireman99

PrettyWoman wrote: »

Care home was at the cheaper end of the scale, SIL saw to that as I was excluded from discussions when it came to finding a home. FIL was placed 100 miles from nearest relative. Along with rental income and very good final salary pension as well as state pension there were no outstanding fees from the care home. There was some cash and that was distributed to the five grandsons @ £5000 each as per the will.

My husband doesn’t know that I know how much the house sold for. He thinks I’m still under the illusion that he got his fair share and I should be grateful he’s used his inheritance to pay off our mortgage.

He is correct! You should be grateful. It sounds as if there has been nothing underhand.

PrettyWoman

Tom99 wrote: »

From what you say of SIL's financial situation you are not robbing the poor and the gift was of her own free will, so why not just let the matter rest there, no point stirring up trouble just for the sake of it.

Definitely not trying to stir up trouble and of course I am grateful to be mortgage free but since I discovered in October that the SIL had effectively contributed £50,000 to the pot to make that happen I’ve been worrying about what would happen if she ever asked for it back. From the replies on here it would seem that she can’t do that so our home wouldn’t appear to be at risk and that is the only reassurance I need to sleep a bit easier.

Since my husband told me he did it without asking me because he knew I wouldn’t agree it has left me feeling extremely vulnerable as to what else he could do. For all I know he might decide to sell the house tomorrow and as his inheritance has paid for it I’d pretty much be penniless and homeless 🤷!♀️ Not a situation you think you’ll find yourself in as you’re just about to turn 50!

Tom99

Seem you husband has taken a gift from his sister, who can well afford it, to benefit you both. Not sure why you think he will now do a flit.

Mojisola

PrettyWoman wrote: »

From the replies on here it would seem that she can’t do that so our home wouldn’t appear to be at risk and that is the only reassurance I need to sleep a bit easier.

I would rather see all the paperwork relating to the will and the extra lump sum that your husband received and the mortgage repayment!

Mojisola

PrettyWoman wrote: »

Subsequently the house sold and my husband asked me to sign a document to release the deeds for our house from the bank. He said that we were now mortgage free.

Does this mean that your home isn't registered at the Land Registry?

https://www.gov.uk/search-property-information-land-registry

If it isn't, insist on getting it done now. If the arrangement between your husband and his sister means his sister has any call on the house, that will have to be declared during registration.

PrettyWoman

Mojisola wrote: »

I would rather see all the paperwork relating to the will and the extra lump sum that your husband received and the mortgage repayment!

I’ve got the mortgage redemption paperwork from the bank and the title deeds to the house. I’ve never seen any paperwork relating to the will or the accounts of the estate. The SIL managed the distribution of the assets as she was executor and my two sons both received their share via bank transfer, our share was paid direct to redeem our mortgage. Obviously at that time I was under the impression there was enough money in the pot to cover our mortgage, the grandsons shares and give the SIL her equal share.

PrettyWoman

Mojisola wrote: »

Does this mean that your home isn't registered at the Land Registry?

https://www.gov.uk/search-property-information-land-registry

If it isn't, insist on getting it done now. If the arrangement between your husband and his sister means his sister has any call on the house, that will have to be declared during registration.

I have absolutely no idea and will check that out. Are houses not registered when they are built? Our house is 19 years old and we’ve lived here for 13 years, all that is probably completely irrelevant 😉

Mojisola

PrettyWoman wrote: »

I’ve never seen any paperwork relating to the will or the accounts of the estate.

If there's nothing to hide, why wouldn't your husband share the estate information and accounts with you?