📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Probate will

Can anyone advise me,both my parents have recently passed away,they had a trust will with 50% of the property being held by my sister and I,we are the trustees and executors of the will.
We thought that they were tenants in common on the title deeds.
After the trust will was made they moved to another property,when they moved to new property they were not registered as tenants in common but joint tenants,does this make the trust will invalid?
They are way below the inheritance tax threshold,how should I report this for probate?

Comments

  • RAS
    RAS Posts: 35,741 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If they failed to hold the property as tenants in common, when the first parent died, the other became the sole survivor, so the transfer of 50% to you and your sibling failed. When the second parent died, then their property is inherited in line with their will. 

    Note that a trustee of a will merely means that for the period between death and distribution the donor trusts the executor(s) to hold the assets for the benefit of the inheritors. It's nothing to do with an immediate post death trust that would have been created by the death of a tenant in common.

    If you've have not made a mistake, you've made nothing
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.4K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.