Complicated Estate advice please

RAS

Yvfm said:

A DoV wouldn't be an option as we know the surviving partner, LPA or beneficiaries would not agree, with good reasons.

Just wish they had spoken to a family member/friend they trusted before they made the DoV which is now having detrimental consequences for them.

You are saying a DOV isn't an option?

And that "they made the DOV."

????????

Marcon

Yvfm said:

Thanks for your replies.
This scenario is linked to other post.
Deed of Trust was carried out 10years ago and states 50%. It was drawn up by a solicitor and both parties made new Wills with the same solicitor on the same date. The deceased partner shortly afterwards did a Codicil to the Will changing some details. I did ask the solicitor practice in the presence of remaining partner,as they were distressed when they realised the consequences, ' what the reasoning was for Deed of Trust' and was told that 'no notes were on file as to why'.
A DoV wouldn't be an option as we know the surviving partner, LPA or beneficiaries would not agree, with good reasons.
Downsizing would be an option however it will be difficult for the person to leave the home which they have loved for over 50 years (and still do).
How easy would it be for a LPA to seek an equity release or raise funds secured on the property?
I know they have brought this situation on themselves but don't believe they realised what the consequences could be. Just wish they had spoken to a family member/friend they trusted before they made the DoV which is now having detrimental consequences for them.
It is a very sad situation.

If it's clearly in the interests of the surviving partner, then it should be possible - but to return to the comment at the start of this sad thread, proper legal advice is essential (this time for the LPA). Posting here isn't going to get the conclusive answer, based on a full understanding of the situation/options, that is essential before any further action can be taken.

MiniEggs

Joint tenants is like a joint bank account. You BOTH own 100% of it. Tenant's in common is where you own a specific share and if it is not specified then it is 50% and you can do what you like with your share as it is solely yours