No More, What If....

SeniorSam

sgx2000   You say that his other assets are approximately £60 - £70,000.   Do you know what assets (savings and investments) the grandmother has to maintain her lifestyle as this is an important issue ?  Also, was the date of the Will before or after the divorce?

In this instance, I doubt the daughters with 50% ownership  could force a sale even if they wanted to if the grandmother is in good health and reliant on maintaining her home 

sgx2000

p00hsticks said:

So the will does not specifically give the grandmother the right to carry on living in the property ?

Is there any mention of the grandmother in the will at all ?

And if so, was the will made before or after they got divorced ?

Thanks for the reply

The grandmother is not mentioned in the will.
The will was made out after their divorce (tenants in common)

sgx2000

p00hsticks said:

Grumpy_chap said:

sgx2000 said:

First off, My apologies to forum admin for starting a new thread.
Just seems like more sense given that we will now be discussing facts rather than guesses....

I am the sole executor of a will.
I am his grandsons father.....
The grand parents divorced 10 years ago but both still lived in the property ( tenants in common) until the death at Christmas of the grandfather..

I now have the death certs 
And have just picked up the will

He has left his half of the property equally between his 2 daughters (one of whom lives in America)
The remainder of his estate, after funeral costs etc, is to be left in trust to my son until his 21st birthday (currently 17)

I estimate his half of the property is worth less than £100K
I also estimate is assets savings etc to be worth approx £60K - £70K

My questions are:-
Given that I have never done a probate before....  

1.  What are the potential pit falls in doing the probate myself?
2.  Would there be a problem with one of the daughter living in America (may even be an American citizen now)?
3.  The money left in trust to my son.... Can I as the executor just hold that in an account until he is 21, or,  do I have to set up a legal trust fund?

Any suggestion or comments would be very gratefully received.. 

Sorry for your loss.

Am I the only one reading this to think the will is unusual in that it makes provision for the two daughters, but not the son (noting the son's son does inherit in the son's place)?

I  was thinking. because the OP described themselves as the 'grandsons father' rather than the 'grandfathers son' or explicitly stating that it is his father that is the deceased,   that they were perhaps a son-in-law of the deceased rather than a blood relative ?

I was not married to my sons mother, but for this thread i am "the son in law"
The deceased only had 2 daughters.
one of whom is my sons mother....
(yes i know.. Family's are confusing) 

sgx2000

Flugelhorn said:

I took it he was son-in-law, the previous thread noted that the property was TiC. I think if I was the exec, after all the initial stuff  was done, I would change the names on the LR to the 2 daughters and then leave them to it as far as the property is concerned 

Get the probate ... Then change land registry ownership to include both daughters....
I dont know how problematic this could be given that on of the daughters lives in America...(May even be an american citizen)

Flugelhorn

sgx2000 said:

Flugelhorn said:

I took it he was son-in-law, the previous thread noted that the property was TiC. I think if I was the exec, after all the initial stuff  was done, I would change the names on the LR to the 2 daughters and then leave them to it as far as the property is concerned 

Get the probate ... Then change land registry ownership to include both daughters....
I dont know how problematic this could be given that on of the daughters lives in America...(May even be an american citizen)

I am not sure that it is a problem, there are people overseas who own property in the UK ... of course being in the USA it might affect her tax situation (complicated there I think ) 

PS yep families are complicated 

sgx2000

SeniorSam said:

sgx2000   You say that his other assets are approximately £60 - £70,000.   Do you know what assets (savings and investments) the grandmother has to maintain her lifestyle as this is an important issue ?  Also, was the date of the Will before or after the divorce?

In this instance, I doubt the daughters with 50% ownership  could force a sale even if they wanted to if the grandmother is in good health and reliant on maintaining her home 

His assets where savings and collectibles.

I think the grandmother may have enough to support living in the house till she dies

Very messy.  English daughter and grandmother are already bickering over his possessions....Even though niether have any rights over them......
Sorry I agreed to be executor and its only a couple of day since I picked up the will.....lol

Flugelhorn

TBH @sgx2000 sounds like good thing you are exec and not any of them, you are a bit detached from the family dynamics of the 3 women - suspect if any of them were exec then  your son may not have seen any of the assets.

sgx2000

Flugelhorn said:

TBH @sgx2000 sounds like good thing you are exec and not any of them, you are a bit detached from the family dynamics of the 3 women - suspect if any of them were exec then  your son may not have seen any of the assets.

Flugelhorn said:

TBH @sgx2000 sounds like good thing you are exec and not any of them, you are a bit detached from the family dynamics of the 3 women - suspect if any of them were exec then  your son may not have seen any of the assets.

Lol.... Oh!  you cant say that ....roflol....

RAS

It sounds like your father out-of-law recognised that he needed to protect his grandson's interests and you were the best person to do that. I'd suggest that you start by making an inventory of those assets that will be part of the grandson's inheritance to make sure none of them go walkies. 

Keep_pedalling

sgx2000 said:

Flugelhorn said:

I took it he was son-in-law, the previous thread noted that the property was TiC. I think if I was the exec, after all the initial stuff  was done, I would change the names on the LR to the 2 daughters and then leave them to it as far as the property is concerned 

Get the probate ... Then change land registry ownership to include both daughters....
I dont know how problematic this could be given that on of the daughters lives in America...(May even be an american citizen)

As ownership is not going to be of any use to them while GM still requires the house it might be a better option if they agree a deed of variation to give her a life interest in his share. This should avoid a potential capital gains tax liability when the house is eventually sold.

Do you know who she is leaving her share of the property to?