Probate & Discretionary Trust - where do I start?

pootleflump

She is also a registered owner - she had a lifetime interest in the property.

Keep_pedalling

pootleflump said:

Mum was paying the income tax.

That would be correct as she was still the beneficial owner?

Keep_pedalling

pootleflump said:

She is also a registered owner - she had a lifetime interest in the property.

Sorry for all the questions, but that raises another, was the life time interest set up by herself or did it result from her husbands will?

Land_Registry

pootleflump said:

She is also a registered owner - she had a lifetime interest in the property.

If all three of you are the registered legal owners then you don’t need probate to deal with the property itself. The legal ownership has passed to the remaining joint owners following her death. 

You may need probate for other reason(s) but not for the property such as to take control of/close her bank account - ask the bank what they need to close/change things following her death 

The trust seems to have been set up for specific reasons re age/care etc and relates to her/your beneficial ownership and presumably included a right for her to live in the property until her death. 

He trust deed presumably sets out the T&Cs around the trust and how it might come to an end etc. Her will presumably refers/affects also and the trust can be wound up as based on another presumption it doesn’t then go on to affect your own beneficial ownerships 
The wider tax implications aren’t our area but it seems logical to get some specific legal/financial advice based on the registered information, her will and the trust to simply see what needs to happen next inc keeping/renting the property 

pootleflump

Keep_pedalling said:

pootleflump said:

She is also a registered owner - she had a lifetime interest in the property.

Sorry for all the questions, but that raises another, was the life time interest set up by herself or did it result from her husbands will?

Sorry - had lots of other things going on in life and this was put on the back burner.

I had the wording wrong - it's not a discretionary trust (not sure where I pulled that from) but I believe a life interest trust. From speaking to her financial adviser, she set it up to protect from care home fees and step-children making claim to it as it belonged to her and dad before he passed away and she remarried. Stepdad also passed away but mum had no relationship with stepchildren who were adults when they married.

We've contacted the solicitors who set up the trust and they told us the trust will form part of her estate for probate purposes, but we've since asked other questions and they haven't replied even though we asked them to complete probate for us.

Marcon

pootleflump said:

Keep_pedalling said:

pootleflump said:

She is also a registered owner - she had a lifetime interest in the property.

Sorry for all the questions, but that raises another, was the life time interest set up by herself or did it result from her husbands will?

Sorry - had lots of other things going on in life and this was put on the back burner.

I had the wording wrong - it's not a discretionary trust (not sure where I pulled that from) but I believe a life interest trust. From speaking to her financial adviser, she set it up to protect from care home fees and step-children making claim to it as it belonged to her and dad before he passed away and she remarried. Stepdad also passed away but mum had no relationship with stepchildren who were adults when they married.

We've contacted the solicitors who set up the trust and they told us the trust will form part of her estate for probate purposes, but we've since asked other questions and they haven't replied even though we asked them to complete probate for us.

Ring and chase them.