Is a Larke vs Nugus worth the £1500 + VAT if not contesting the contents of the will??

Spendless

Flugelhorn said:

Keep_pedalling said:

Are you on good terms with your children? Are they adults?

If the answer to both those questions is yes then hopefully they would agree to make a deed of variation to give you a life interest. If they do that you can take the solicitors out of the loop.

This may also be in their best interests because what he has done is not the most sensible approach as it is likely to leave them with a CGT liability when the house is eventually sold, and if they are not already home owners is going to lose them their first time buyer status. They the only way they could cash in when the trust is wound up without your agreement is through a court order which would be expensive with a strong chance of the application failing.

I was wondering about DoV to sort this out - are the children still minors? presume they can do this when they reach 18? 

Will they be able to? The OP says a trust fund set up for when they reach 25. She also mentions not wishing to get a mortgage in 7 years time, which makes me think that the youngest child is already 18.

It sounds like this can be messy - I hope I'm wrong.

RAS

Has probate been granted? I'd be tempted to look at the possibility of a claim under the Inheritance Act, on the grounds of not making reasonable provision?

Just to get the right to live there until you die or sell to move into care home?

BooJewels

I think the children must be around 18-ish as she said something about having to get a mortgage in 7 years - presumably when they turn 25, as per the trust.

ETA:  Apologies, I didn't see that @Spendless has already posted the same.

Keep_pedalling

Flugelhorn said:

Keep_pedalling said:

Are you on good terms with your children? Are they adults?

If the answer to both those questions is yes then hopefully they would agree to make a deed of variation to give you a life interest. If they do that you can take the solicitors out of the loop.

This may also be in their best interests because what he has done is not the most sensible approach as it is likely to leave them with a CGT liability when the house is eventually sold, and if they are not already home owners is going to lose them their first time buyer status. They the only way they could cash in when the trust is wound up without your agreement is through a court order which would be expensive with a strong chance of the application failing.

I was wondering about DoV to sort this out - are the children still minors? presume they can do this when they reach 18? 

Only if the youngest reaches 18 within 2 years of his death. 

I also wonder what sort of trust we are talking about, to enforce the 25 year age condition this needs to be a discretionary trust, if they have actually been left his share absolutely then it will be a bare trust and they would actually be entitled to their inheritance at 18.

Discretionary trusts are a nightmare to manage and are subject to some hefty taxation. Also if he appointed professional trustees where are the fees going to come from? 

Robin9

How old are the children now ? You talk of the Trust at age 25 and you needing a mortgage in 7 years.

I believe age 25 would be unenforceable and they could claim their inheritance at 18.   Is 18 also the min age for a DoV which to to be taken out within 2 years of the death

Zimara25

Marcon said:

Zimara25 said:

Hi All,

I have instructed a solicitor with regards to my late husbands will. He didn't have a previous will and made his will 4 day before he passed of stomach cancer. The executors refused to send me a copy of the will so my solicitor sent them a letter and we received the will. My husband left everything to our two children for reason which i understand but we owned a property together (tenancy in common). The children's 50% is to go a trust fund set up for when they reach 25 years of age. I would like to apply for a life interest in the asset as one of the executors suggested that when they do reach 25 years i would need to mortgage to give them the money.
My solicitor has requested the will notes from my husbands solicitor but have refused and have suggested sending them a Larke and Nugus letter for £1500. 

Given i don't wish to contest the wishes of the will i do want peace of mind that I won't have to mortgage at the age of 55 in 7 years time, i just want peace of mind that i can stay in the family home with no potential awkward conversations with my kids later (not that i think they would)??

Thank you in advance.

Why is your solicitor quoting £1500 for simply sending what is a standard legal letter?

My thoughts exactly, which is the reason for this post.

Zimara25

Keep_pedalling said:

Are you on good terms with your children? Are they adults?

If the answer to both those questions is yes then hopefully they would agree to make a deed of variation to give you a life interest. If they do that you can take the solicitors out of the loop.

This may also be in their best interests because what he has done is not the most sensible approach as it is likely to leave them with a CGT liability when the house is eventually sold, and if they are not already home owners is going to lose them their first time buyer status. They the only way they could cash in when the trust is wound up without your agreement is through a court order which would be expensive with a strong chance of the application failing.

One child is 18 and the other is 14 and both are in agreement that i have a life interest. As one is not an adult i'm told i would need permission from the court. Could the executors give permission?

CGT?? County court judgement - didn't think of that.

Essentially I would like to have a life interest in the family home (where ever that may be) and maintaining my husbands wishes that the kids get their 50% share abliet delayed until I go into care or pass away.
The suggestion from my solicitor to send a Larke vs Nugus letter to obtain the will notes and then to have those notes reviewed by a barrister (at further cost) seems more along the lines of me making a claim to contest the distribution of the will. And in my view unnecessary at this point.

Zimara25

Sarahspangles said:

Out of interest was the firm used a ‘will writing firm’ and are they the only executors?

No, just an on duty solicitor which was available at short notice. The solicitors are not the executors, two of the deceased friends are.

Zimara25

Flugelhorn said:

Keep_pedalling said:

Are you on good terms with your children? Are they adults?

If the answer to both those questions is yes then hopefully they would agree to make a deed of variation to give you a life interest. If they do that you can take the solicitors out of the loop.

This may also be in their best interests because what he has done is not the most sensible approach as it is likely to leave them with a CGT liability when the house is eventually sold, and if they are not already home owners is going to lose them their first time buyer status. They the only way they could cash in when the trust is wound up without your agreement is through a court order which would be expensive with a strong chance of the application failing.

I was wondering about DoV to sort this out - are the children still minors? presume they can do this when they reach 18? 

I would actually like to sell the family home as it 100 years old and i cant keep up with the maintenace - it would just be a straight swap with a property that needs less maintenace. The children are not ready for the responsibities of home ownership and being a single parent i would not have the financials to manage on my own.

Zimara25

Keep_pedalling said:

Flugelhorn said:

Keep_pedalling said:

Are you on good terms with your children? Are they adults?

If the answer to both those questions is yes then hopefully they would agree to make a deed of variation to give you a life interest. If they do that you can take the solicitors out of the loop.

This may also be in their best interests because what he has done is not the most sensible approach as it is likely to leave them with a CGT liability when the house is eventually sold, and if they are not already home owners is going to lose them their first time buyer status. They the only way they could cash in when the trust is wound up without your agreement is through a court order which would be expensive with a strong chance of the application failing.

I was wondering about DoV to sort this out - are the children still minors? presume they can do this when they reach 18? 

Only if the youngest reaches 18 within 2 years of his death. 

I also wonder what sort of trust we are talking about, to enforce the 25 year age condition this needs to be a discretionary trust, if they have actually been left his share absolutely then it will be a bare trust and they would actually be entitled to their inheritance at 18.

Discretionary trusts are a nightmare to manage and are subject to some hefty taxation. Also if he appointed professional trustees where are the fees going to come from? 

The trustees are friends of his and are also the executors of the will. I don't know what trust it will be, i believe the solicitor will set up the trust once probate is granted. Probate has not been granted yet as I have issued a caveat.