Executor/Beneficiary transferring property into children's name

Alphatauri

You need to get proper legal advice asap as your sister is effectively defrauding you. She has transferred significant assets to 3rd parties (her children). You need quick intervention to prove your legal rights over the properties as assets of an estate where you are both executor and beneficiary. 

I would also be revoking your reservation and insist on being joint executors.

doodling

Hi,

Alphatauri said:

You need to get proper legal advice asap as your sister is effectively defrauding you. She has transferred significant assets to 3rd parties (her children). You need quick intervention to prove your legal rights over the properties as assets of an estate where you are both executor and beneficiary. 

I would also be revoking your reservation and insist on being joint executors.

I would second this.

How old are the children - if they are under 18 then this will take court action to resolve as there is no way of retrieving the property from them without it?

I would however be preparing myself for the possibility that I won't be getting the property I wanted, unless you have any way of influencing your sister I suspect the best you can hope for is that you get the appropriate value in money.

Keep_pedalling

doodling said:

Hi,

Alphatauri said:

You need to get proper legal advice asap as your sister is effectively defrauding you. She has transferred significant assets to 3rd parties (her children). You need quick intervention to prove your legal rights over the properties as assets of an estate where you are both executor and beneficiary. 

I would also be revoking your reservation and insist on being joint executors.

I would second this.

How old are the children - if they are under 18 then this will take court action to resolve as there is no way of retrieving the property from them without it?

I would however be preparing myself for the possibility that I won't be getting the property I wanted, unless you have any way of influencing your sister I suspect the best you can hope for is that you get the appropriate value in money.

They must be adults, as minors cannot own property.

Garnachko

thanks - do you know how i could get hold of the probate application - all i have is the grant of probate showing value of the estate (in England and wales) so am unsure even if overseas property was declared

Garnachko

p00hsticks said:

I'm sorry, it;s probably me, but it's still not making much sense to me.

Luba13 said:

the UK will stated that the 2 properties should be divided equally between the 2 of us.

Did that mean you were to both jointly own both properties, you were to each inherit one or that both were to be sold and the proceeds split between you ? Were the individual properties specifically mentioned in the will (always dangerous, because if one was then sold between making the will and the death, the bequest would fail). 

Garnachko said:

We agreed that i would have ownership of the overseas property and this would be shared 50/50 between us.

?? This seems contradictory ? Either you have ownership or it's shared 50/50 ? Which is it ?

Who is actually executor of the UK will ?

From what you describe it sounds as if your sister may have acted prematurely in getting the deeds of one property transferred into her name, but it's also not clear if you necessarily should have an interest in it unless the property is worth more than half the total value of the estate. Is this property A (which you say you are happy to let her have) or property B (which you say you may want yourself) ?.   

It all sounds to me as if neither of you have a really clear agreed idea of what is to happen to all three properties at present, so when you get the whole estate valued and both agree on the valuations of the individual properties, you then need to sit down together and discuss once more how it should be divided up so you both end up with equal shares (although you sister transferring one property into her name prior to this apparently happening has rather muddied the waters). 

thanks - do you know how i could get hold of the probate application - all i have is the grant of probate showing value of the estate (in England and wales) so am unsure even if overseas property was declared

tetrarch

Garnachko said:

thanks - do you know how i could get hold of the probate application - all i have is the grant of probate showing value of the estate (in England and wales) so am unsure even if overseas property was declared

You have a much bigger problem here if this is true. 

You really need to see the IHT400 form that was submitted

Regards

Tet

poppystar

You say in your initial post that the executor has transferred ‘their’ share to 3rd parties. So I don’t think you are being defrauded if half the estate is still there for you.

The issue seems to be more that this is all being done on the basis of particular properties rather than estate value. You say at one point the overseas property is in your name but you have agreed to share it 50:50. Why is that property in your name if it isn’t coming to you in its entirety?

I think you maybe need to step back and look at the estate in terms of total value and, hence, the half value that should be coming  to you. This won’t settle the argument over who gets which property but as executor your sister only needs to ensure you end up with half the estate value. As executor she can decide what happens to each property as long as they are properly valued and you get half that is her job done. It’s too late now but reserving your power of executorship was probably not a good move if you wanted a say in how the estate was liquidated or distributed,