Will complications

Jw1239

My mother passed last year and I just wanted some clarity on something regarding a will. I am 22 and a sole beneficiary to my mums estate which is currently going through probate. My aunty is the excuse for and is dealing with things with the solicitor etc. On the will which was written up in 2007 I would have been a minor and obviously not old enough to deal with anything myself should anything of happened. In the will it states that I am not able to inherit my inheritance until I am 25 years of age. I was told by my mum that this was just a reccomendation age that the will writers recommend. Unfortunately my mother was diagnosed with cancer in the early stages of 2019 which led to her passing away later in the year but leading up to this we had a few discussions regarding will etc what will happen should the worse to happen. As I am not in the best financial position at the moment we talked about things and it was mentioned before she passed away that as I’m not a minor and nearly 25 she would look into changing the age to have my inheritance when she passed away if it was before the age of 25 as she didn’t want me to be in money trouble and wanted me to pay my debts off etc. Nothing was put in writing however so it’s been left at 25 and my aunty who is the executor of the will is being very funny with me about things and states I cannot have anything until I’m 25. Now the house I lived in with my mum is being sold as I canot get A mortgage to carry the mortgage on due to low credit. I’m in debt and have a low end job I’m really going to struggle through so is she allowed to hold this money?

I have read online somewhere that it states if the beneficiary is now an adult and agrees to changing certain parts of the will that it is up to them and allowed? Is this true? Or can anyone shed anymore information on this?

Thanks

Flugelhorn

I am sorry to hear that you have lost your mum at your age. There are a few things to look at :

1) Was the house you lived in owned and mortgaged by mum? was there any life insurance associated with the mortgage? Have you been left the house?

2) There certainly are ways for you to access the money from the will before the age of 25 - am sure there are others here with more knowledge and links

getmore4less

What assets are in the estate along with the house.
How much is the house worth.
How big was the mortgage.

Do you have a copy of the will and the wording?

The will sets up a trust depending on type and wording there may be options to access early.

Typically the Executor becomes trustee unless someone else is appointed

Can you get access to the solicitor involved they may be able to help you understand the situation and options.

Keep_pedalling

getmore4less wrote: »

What assets are in the estate along with the house.
How much is the house worth.
How big was the mortgage.

Do you have a copy of the will and the wording?

The will sets up a trust depending on type and wording there may be options to access early.

Typically the Executor becomes trustee unless someone else is appointed

Can you get access to the solicitor involved they may be able to help you understand the situation and options.

This is a common clause, and in many, if not most, cases it simply sets up a bare trust. If this is the case here then you can insist on receiving your inheritance without having to wait til your 25th birthday.

Agree with the above, contact the solicitor ( or get the executor to do so) and find out what the actual position is with the trust. I am sure your aunt does not want to be lumbered with being a trustee either.

xylophone

I suggest that you and your aunt make an appointment to see the solicitor together so that he can explain the options.

Jw1239

Hi thank you guys for all your replies it’s been very helpful. To answer what you have asked All in one yes the house was mortgaged and owned by my mum. She had no life insurance and yes the house has been left to me and me only. My mum owned a car nothing fancy worth about £2,000, I believe she had around £10000 saved in her bank. I don’t know an exact figure but we estimate the house to be worth around 110-130k with 30k left on the mortgage so can get 70/80k for that and yes I do have a copy of the will and wording.

Pretty much since my mum passed my aunty has been dealing with everything which I appreciate as I wouldn’t have a clue what I’m doing but she hasn’t kept me in the loop at all to the point I don’t even know who the solicitor is. I’ve asked to know me and exact figures etc but she doesn’t reveal them to me and is very difficult to communicate with. She is very strict and it’s almost like she still sees me as a minor and treats me like one only telling me what she wants to happen and when I tell her what I want to happen it’s just no no no. I’m happy to see that I could possibly receive my inheritance early depending on the trust agreement. I’m not wanting the money to blow it which in her eyes is what she sees because she thinks I’m an irresponsible person but ultimately The worst thing in the world has happened to me and I just want what I’m entitled too without any family disputes.

Malthusian

Sorry for your loss. Until the estate is distributed your aunt doesn't have to tell you anything. So I suggest putting your feet up.

Once the estate has been distributed and the money is in the hands of the trustees you can approach them - unlike your aunt wearing an executor hat, they can't ignore you. If there are no other potential beneficiaries of the trust you can ask for the trust to be wound up and the assets distributed to you.

It would be a good idea to visit the Debt-Free Wannabe board for advice on how to deal with the debt, and pretend you didn't have an inheritance coming, because it will take months at minimum and potentially years if the trustees (your aunt?) dig their heels in, or if the trust has been set up in such a way that you aren't entitled to wind it up.

When you do eventually get it, an inheritance of £80k minus your current liabilities will be gone pretty quickly if your expenditure still exceeds your income.

KK14

So sorry for your loss. I lost my mum last year although not at such a young age as you. It is still a horrible thing to go through.
If your aunt is being very difficult to communicate with as you say then sadly you might have to get a solicitor involved yourself.
If your mum had money in the bank then that sum of money wouldn’t affect probate as such in that when the bank account is frozen, it can go into an executor bank account.
I don’t see why you couldn’t get an interim payment seeing as you are the sole beneficiary although your mum’s estate is clearly more than £5k so probate would have be applied for & granted. I presume your aunt & the solicitor are doing this?
You have my every sympathy as I am going through a contentious probate situation myself.

jtmerralls

I agree with Xylophone.
The Will is a Legal Document and your Aunt appears to be following it to the letter.
Being a Legal matter, it woukd be sensible for you and your Aunt to have a joint appointment with the Solicitor who will know your Legal rights.

Dox

You've lost your mum, which is truly horrible. Your aunt has lost her sister - and that isn't a great place for her, either. She may genuinely believe that what she is doing is simply carrying out what she understands to be her sister's wishes, and also (again genuinely, even if mistakenly) acting in your best interests. If it's the first time she has been an executor, she could well be finding the role stressful and worrying, even with the help of a solicitor.

Don't turn this into a battle with someone who almost certainly isn't - at least not intentionally - the enemy. I know that isn't easy to hear, and it is much easier to say than do, but please at least consider the possibility that it could be true.