I inherited a settled personal loan

Kynthia

Clogs1 wrote: »

This was a handwritten diy will! I was hoping my query mught constitute a grey area, in which favour is given to the beneficiary. So, because the loan was repaid, my brother benefited. My dad may as well have left the loan to my brother in the first instance... doesn't seem right! Oh well... ��

For all you know the amount your brother inherited has changed in other ways from the amount it would have been when your dad wrote his will. Executers can't go around second-guessing the intentions of the deceased but have to follow what the will says.

Mojisola

Kynthia wrote: »

For all you know the amount your brother inherited has changed in other ways from the amount it would have been wgen your dad wrote his will. Executes can't go around second-guessing the intentions of the deceased but have to follow what the will says.

But beneficiaries can reduce what they receive or just give some of their inheritance to someone else.

Kynthia

Mojisola wrote: »

But beneficiaries can reduce what they receive or just give some of their inheritance to someone else.

I'm not sure why you've quoted my post as I wasn't saying otherwise? My point was that amounts will often change from when a will was written to when it is actioned so it would be chaos if that invalidated the will or executers had to use their judgement to action the intention of the deceased.

OP for all we know your brother has received less than he would have previously received. If beneficiaries are left a car it will depreciate over time, shares can lose value and bank accounts can have less in then than before. However if he got more than he previously would have then you could ask he honour his father's wishes. You shouldn't assume he got more just by looking at this loan in isolation of the rest of his inheritence.

Clogs1

My brother received the residue of my dad's estate, so if I didn't get the loan amount, it formed part of my brother's inheritance. I don't know what he received, but my mother informed me thst it was worth more than what I received, which doesn't bother me - it bothers me that my dad's wishes were not carried out. My father wouldn't have knowingly left me a 'heads you win, tails you lose' situation.

Malthusian

Clogs1 wrote: »

My father wouldn't have knowingly left me a 'heads you win, tails you lose' situation.

Then he did it unknowingly.

I really don't get the logic behind this Will. As your brother inherited the larger part of the estate, it would have made far more sense for you to inherit £5,115 and your brother to inherit the loan, assuming your Dad did want you to get £5,115. As the brother got more money, he had more capacity to deal with the loan and absorb the potential loss of the money if the neighbour never paid it back.

However, your Dad wished what he wished and this illustrates the pitfalls of DIY Wills.

Is the several extra years you spent with your Dad not worth more than the £1,000 you forfeited as a result of him living long enough for the debt to be settled?

Clogs1

My brother lives abroad, and the loan was made to my neighbour, so the loan was easier for me to receive or deal with, if it hadn't been paid back by the time of my father"s passing.

System

Seriously? It's only £1000. I've never inherited anything and never wish to because I'd rather the people I love still be here. But why are you mak8ng an issue over a measly £1000. There's more to life.

-taff

Clogs1 wrote: »

it bothers me that my dad's wishes were not carried out. My father wouldn't have knowingly left me a 'heads you win, tails you lose' situation.

But that's exactly what he did because he wrote the will, he loaned the neighbour money, he knew the money had been repaid and he didn't change his will accordingly.
His wishes were carried ot exactly according to the will that he wrote.