Life interest in property

RnK136

ProbateNewbie said:

@RnK136 how are things going for you? Did you get the will registered? 

Not much progress here, work keeps getting in the way. Am hoping to get to grips with it all again very soon.


One thing I have found out, is that my Mum sold some shares a couple of years ago but I don't know where the money was deposited. Not in either of her bank accounts, although she did  have a joint account with StepFather & I'm wondering if it went in there, although he's unlikely to tell me even if I ask him... 🤨 She didn't generally use that account though and kept her finances totally separate from his.

Does anyone know if I am legally obliged to track where it went? 

I did the will trust registration last week, yes.

Easy enough online as long as you have everyone's details (settlor/trustees/beneficiaries).

Not sure about obligations to trace where money went. Thankfully my Mum (a book-keeper by trade) had it all completely written up and in order where everything was. Have you spoken to the organisation about it? Can they assist at all with where the shares payout went to, enough detail that you know where it *didn't* go, thus identifying where it *did* go?

ProbateNewbie

Glad you got the trust registered. How is your Dad?


I haven't gone back to the share dealing people yet, got the initial info, then checked her bank statements & realised the money hadn't gone in to either of her accounts. 

I'm going to phone them again tomorrow & see what I can glean. 

The sad thing was, my Mum was a bookkeeper too but the last few years' paperwork is very haphazard unfortunately. ☹️

Voyager2002

Just a thought, but since StepF is an executor, and is being difficult about information relating to money and jewellery, ask him to do the form for probate. At the very least insist that he signs the forms as being true and correct.

RnK136

ProbateNewbie said:

Glad you got the trust registered. How is your Dad?


I haven't gone back to the share dealing people yet, got the initial info, then checked her bank statements & realised the money hadn't gone in to either of her accounts. 

I'm going to phone them again tomorrow & see what I can glean. 

The sad thing was, my Mum was a bookkeeper too but the last few years' paperwork is very haphazard unfortunately. ☹️

My Dad is still going, nearly 87.

I realised that will trusts already have a 2 year grace period so the 90 day allowance after a trust is in place is likely not applicable, so I registered it in time for the 2 year time period anyway. If anything happens to my Dad now, the trust immediately ends there anyway.

ProbateNewbie

Voyager2002 said:

Just a thought, but since StepF is an executor, and is being difficult about information relating to money and jewellery, ask him to do the form for probate. At the very least insist that he signs the forms as being true and correct.

He wants nothing to do with any of it
'I'm 83 next birthday' is his stock reply to any requests for even minor assistance with the estate. 🙄

Do all the Executors need to sign? If so then I will ensure he does.

RnK136

ProbateNewbie said:

Voyager2002 said:

Just a thought, but since StepF is an executor, and is being difficult about information relating to money and jewellery, ask him to do the form for probate. At the very least insist that he signs the forms as being true and correct.

He wants nothing to do with any of it
'I'm 83 next birthday' is his stock reply to any requests for even minor assistance with the estate. 🙄

Do all the Executors need to sign? If so then I will ensure he does.

 
My Dad would do absolutely nothing when my Mum died. And I mean NOTHING. I shudder to think what would've happened if me and my Brother didn't exist. Anyway, we are all 3 executors, but I think pretty much everyone accepted just me signing things and acting on behalf of all executors. Hopefully this works the same for you too.

ProbateNewbie

Yep, SF is the same as your Dad but then objects when someone else (me!) steps in to get stuff actioned

Unbelievably stressful & God only knows why my Mum listed him as an Executor - their finances were separate, she had her statements sent elsewhere, FGS! 🙄

Newly_retired

I would suggest you try to get him to renounce as executor when you apply for Probate. 
There are three of us named in my late husband's will as executors. My niece has renounced, just to save complications. I got her agreement to do so in writing in an email, but nothing formal. I did not need to send it to the Probate office. My step-son is still named but has left me to do all the work. He is co-operatve and will sign whatever is needed to be signed but does not get involved, It works for us.

Malthusian

A more conciliatory approach is to ask him to reserve power when probate is applied for. This means they do not have to sign anything, but they can "unreserve power" at any time if they feel the executors are not acting correctly. (It also means they can step in if the active executors go under a bus or are incapacitated.) Renouncing as executor by contrast is irreversible. 

The kind of person who likes to stick their oar in but not actually do anything may be happier to "reserve power" than renounce. Renouncing requires you to be willing to give up power and place your trust in the remaining executors; reserving power only requires you to be willing to not do any work. Once probate has been granted with an executor's power reserved, actively interfering with what the executors are doing would require them to apply to the Probate Office to un-reserve.

RnK136

Malthusian said:

A more conciliatory approach is to ask him to reserve power when probate is applied for. This means they do not have to sign anything, but they can "unreserve power" at any time if they feel the executors are not acting correctly. (It also means they can step in if the active executors go under a bus or are incapacitated.) Renouncing as executor by contrast is irreversible. 

The kind of person who likes to stick their oar in but not actually do anything may be happier to "reserve power" than renounce. Renouncing requires you to be willing to give up power and place your trust in the remaining executors; reserving power only requires you to be willing to not do any work. Once probate has been granted with an executor's power reserved, actively interfering with what the executors are doing would require them to apply to the Probate Office to un-reserve.

Yes - agree. This is what we did. I applied for Probate and my Brother and Dad as the other executors are Power Reserved. Best and easiest plan.