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Everything Done Now What?

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  • Was this a gift or a loan? If it was a gift the estate needs to be split 4 ways with no adjustment for the gift.

    If it was a loan then yes what your sister has proposed will clear the debt and correctly distribute the estate. The loan needs to appear on the accounts as a debt owed to the estate. 

    Unless this is a documented loan or your brother confirms it was a loan then I think you have to except it was a gift. 
    He had been getting loans from my father for years (we know of at least 30k he's taken over the years) and never paying them back I think my father had reached the end of his patience and when he had taken this money he told my sister 'make sure it comes out of his inheritance'. As I mentioned he had no will and I don't think it happens too often where a father draws up legal documents when lending his son money so although he knows and we know it was a loan how do we get it back?
    The problem is the lack of a will or any loan documentation. A verbal conversation between your father and your sister is not going to cut it if this ended up in court. 
  • The correct thing to do, based on money advanced and being a loan, is reduce his inheritance accordingly. You do so in the knowledge that it was your dads wishes.
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  • The correct thing to do, based on money advanced and being a loan, is reduce his inheritance accordingly. You do so in the knowledge that it was your dads wishes.
    Mortgage free
    Vocational freedom has arrived
  • The correct thing to do, based on money advanced and being a loan, is reduce his inheritance accordingly. You do so in the knowledge that it was your dad’s wishes.
    But if the OP’s sibling claims it was a gift and there is no proof it was a loan that is not the correct thing to do. Unfortunately the mess has been created father failing to make a will or leaving any proof it was a loan. The word loan does not seem to have been mention in the conversation with his daughter just a verbal request that she even things up with the distribution of the estate. The law is clear on how an intestate estate needs to be distributed and with no written proof that a loan existed then the correct thing to do is stick to the intestacy rules, as unfair as that me be.
  • RAS
    RAS Posts: 35,628 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 18 September 2024 at 11:07AM
    Does the brother agree that it was a loan? If not, he can take you to court.  

    Arguing about this could easily wipe out the entire estate. 

    If brother agrees and documents that it was a loan, you can take it into account, though you might want to take advice about a deed of variation. Otherwise your proposal is illegal.

    If you decide to reduce brother's inheritance, then you need to get paid for advice from a probate lawyer, charged to the estate.
    If you've have not made a mistake, you've made nothing
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