Gifting money from a will

Marcon

jpbeautybabe said:

Hi all, myself and my dad have been left half of my nans estate. My dad agreed a few months ago that he would gift me more as I he doesn't need as much. The property is due to complete in 3 days time and my dad today is asking for more money. The money is going into my bank.
So question is, is he entitled to more or as he's already agreed to gift the money or is it tough on his part? Thanks

Tough on your part, I'm afraid. He remains entitled to his half.

elsien

So your dad agreed to very kindly gift you some money which he was under no obligation to do. He has now realised that he needs some of the the money himself so is instead offering a smaller gift. 

And you are still quibbling about this? He doesn’t have to give you any of it, so be grateful to be getting anything at all. 

Jeez. 

sassyblue

elsien said:

So your dad agreed to very kindly gift you some money which he was under no fobligation to do. He has now realised that he needs some of the the money himself so is instead offering a smaller gift. 

And you are still quibbling about this? He doesn’t have to give you any of it, so be grateful to be getting anything at all. 

Jeez. 

Incredible isn’t it? 

OP, you sound like you are due to come into plenty of money so do the honourable thing and let your Dad have what he wants of the money that was gifted to HIM. 

Death certainly brings out the worst in people, don’t let it happen to you.

74jax

I dealt with my mams estate, even though my brother and I were joint executors.

It's easier for the money to be sent to one account and that executor distributes AS PER THE WILL.

And changes are done by Deed Of Variation - not just because A fancies giving B some.  You have to carry out the Will. 

Sea_Shell

jpbeautybabe said:

Myself and dad are executors but I've sorted everything as my dad couldn't be bothered. All the money will come to me then I have to distribute it to my dad.  So question is if I give him what we've agreed and he wants more what can he do about it?  This was only agreed verbally.

This changes things somewhat, as it appears you have initial control over the money.    But, you've answered your own question there.    Yes, you HAVE to distribute it to your Dad.

It is then up to him how much he decides to gift you back, if anything.  

As for "what can he do about it?", well, he could cut you out of his life and take you to court for his full entitlement.   Is that what you want?

My advice would be to distribute the money in accordance with the will.   Then, and only then, if your Dad chooses to gift you any money, he then does so AFTER he has already received the money (rather than you just keeping some back), so you have a full audit trail of the money changing hands and you can show that everything has been done above board.

p00hsticks

sassyblue said:

elsien said:

So your dad agreed to very kindly gift you some money which he was under no fobligation to do. He has now realised that he needs some of the the money himself so is instead offering a smaller gift. 

And you are still quibbling about this? He doesn’t have to give you any of it, so be grateful to be getting anything at all. 

Jeez. 

do the honourable thing and let your Dad have what he wants of the money that was gifted to HIM. 

It's not just the honourable thing, it's the legal thing. From what the OP has added, he's going to receive all the money into his own account in his capacity as executor. He then has a legal obligation as executor to distribute that money as the will dictates.

Sea_Shell

It's interesting to read a thread that's on the other side of the position.

Usually we get the "My daughter is refusing to transfer my due inheritance to me, what can I do?"