Sisters Will

WeAreGhosts

Please tell her to get professional advice, but please also talk it through with her. It might be best if your sister writes a letter to her son, to be opened after her death, which explains in her own words why she made that choice.

My grandmother disinherited one of her daughters (my mother), no reason stated but they weren't close, the other daughters got the bulk of the estate and wouldn't do a DOV and it has caused no end of trouble. Please make sure your sister is aware it can cause bad feeling that resonates through the family. Make sure her wishes are clear.

castle96

thanks all. She is quite headstrong and thinks she can tell the solicitor what to do, regardless. If the time came, me and two sons would do/agree on a DofV and No 3 would get an equal amount as the other 2, ie 1/3 of their total share.

We are Ghosts - the sons are all mine. I dont think her leaving a 'negative' letter for No3 would be good for his feelings. I would not pass it on anyway. Me + No1 and 2 would just do the DofV and he would never know/be told.

Will mention to her re 2nd exec though. Best would be No 2 son

Mojisola

castle96 said:

We are Ghosts - the sons are all mine.

As the 'sons' are her nephews and not her own children and her estate is so big, has she taken advice about inheritance tax?

If not, it's likely that her estate will be giving a big donation to the government.

castle96

Yes she has a IFA, but apart from the AIM shares, contributing the ? £2880pa to a pension, and the odd£k pa, there is no a lot she can do is there (or do you have some things I do not know about??). I am in the same boat as her/others - estate will get clobbered. I don't know how she will leave her house (£400k), whether her Will will say "my entire estate to be split...." or whether it will say "my house left to (me I will assume) and the balance of estate split....." It won't make any difference will it, as she is not leaving it to her children (none), etc, so no relief for IHT

Murphy_The_Cat

castle96 said:

Yes she has a IFA, but apart from the AIM shares,

Hopefully the AIM shares fit the relevant criteria and will not be counted for IHT purposes.  A session or 2 with a spcialist in IHT planning, may legitimately save many, many thousands (hundreds of thousands ?) going to HMRC when the inevitable day comes.

castle96

How? There are only so many 'wheezes' /get outs. How do u save 00ths?. If she could I would 2.

Murphy_The_Cat

castle96 said:

How? There are only so many 'wheezes' /get outs. How do u save 00ths?. If she could I would 2.

Visit a IHT tax planning specialist and discover what you can - the big one for you is that AIM shares (if they meet the required criteria will fall out of the Esate for IHT purposes.  The (considerable) down side of AIM shares is a) accurately valueing them for probate and b) actually selling them !

WeAreGhosts

castle96 said:

We are Ghosts - the sons are all mine. I dont think her leaving a 'negative' letter for No3 would be good for his feelings. I would not pass it on anyway. Me + No1 and 2 would just do the DofV and he would never know/be told.

I appreciate that. But a will would be public (after probate) so if he went searching for it for some reason (not necessarily now, but in the future he could also come across paperwork you have yourself), I assume the contents would be a shock.
The not knowing is harder, which is the situation I'm in now with my mother. All the questions - "did she really hate me that much?" etc .... truly awful, wouldn't wish it on anyone. A decent solicitor should ask why someone like your son is being left out and would advise to make it clear in writing. 

ladysummerisle

castle96 said:

thanks all. She is quite headstrong and thinks she can tell the solicitor what to do, regardless. If the time came, me and two sons would do/agree on a DofV and No 3 would get an equal amount as the other 2, ie 1/3 of their total share.

We are Ghosts - the sons are all mine. I dont think her leaving a 'negative' letter for No3 would be good for his feelings. I would not pass it on anyway. Me + No1 and 2 would just do the DofV and he would never know/be told.

Will mention to her re 2nd exec though. Best would be No 2 son

I think when it comes to making a decision about what happens to her own money then is she not entitled to be “headstrong”. OP should be honest with her that she has no intention of respecting her wishes. 

Keep_pedalling

Murphy_The_Cat said:

castle96 said:

How? There are only so many 'wheezes' /get outs. How do u save 00ths?. If she could I would 2.

Visit a IHT tax planning specialist and discover what you can - the big one for you is that AIM shares (if they meet the required criteria will fall out of the Esate for IHT purposes.  The (considerable) down side of AIM shares is a) accurately valueing them for probate and b) actually selling them !

And the risk that these high risk shares may be worth nothing, so instead of seeing 40% go on tax, 100% goes on failed companies.