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Everything Done Now What?
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Russianbar said:Keep_pedalling said: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.1 -
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 arrived1 -
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 arrived1 -
sheslookinhot said: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.
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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 nothing0
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