Can one be rushed to sell And timing of paying IHT

Lilio8

One of the beneficiaries has now decided 'not' to buy the property and is urging me to empty the property asap, put it on the market asap (about 10 days ago I was asked 'not' to put the house on the market, since beneficiary was thinking of buying it). Both beneficiaries (siblings of the deceased) are also concerned that IHT has not yet been paid. I explained that solicitors are working on it, six months have not passed yet (I'm aware that penalties would be charged if IHT isn't paid within 6 months from the death) there are about 2 months left. IHT has not been paid yet because solicitors are getting all the info together. And we're still far from grant of probate.

1) Can the other 2 beneficiaries (there are 3 of us, my being one) press me to hasten the sale or call the solicitors to press them?

2) Is 4 months too long a time for a legal team to send info to HMRC and get a bill back?

3) Solicitors tell me that they're still waiting to hear from solicitors who wrote the Will about this issue

(please see this https://forums.moneysavingexpert.com/discussion/comment/81152202#Comment_81152202  ).  

I'd very much like to contact the solicitors who wrote the Will and see if they'll reply to me with an answer faster for that issue. But would this be a good idea or leave it to my solicitors to contact them?

poseidon1

Lilio8 said:

One of the beneficiaries has now decided 'not' to buy the property and is urging me to empty the property asap, put it on the market asap (about 10 days ago I was asked 'not' to put the house on the market, since beneficiary was thinking of buying it). Both beneficiaries (siblings of the deceased) are also concerned that IHT has not yet been paid. I explained that solicitors are working on it, six months have not passed yet (I'm aware that penalties would be charged if IHT isn't paid within 6 months from the death) there are about 2 months left. IHT has not been paid yet because solicitors are getting all the info together. And we're still far from grant of probate.

1) Can the other 2 beneficiaries (there are 3 of us, my being one) press me to hasten the sale or call the solicitors to press them?

2) Is 4 months too long a time for a legal team to send info to HMRC and get a bill back?

3) Solicitors tell me that they're still waiting to hear from solicitors who wrote the Will about this issue

(please see this https://forums.moneysavingexpert.com/discussion/comment/81152202#Comment_81152202  ).  

I'd very much like to contact the solicitors who wrote the Will and see if they'll reply to me with an answer faster for that issue. But would this be a good idea or leave it to my solicitors to contact them?

Have read your previous ( long thread), and assuming the information you gave about the contents of the Will is accruate, you have a solicitor for the deceased whose will drafting skills seem to leave much to be desired, whilst the solicitor assisting you,   appears to lack the confidence or ability to interpret what is in front of them without clarification from the original  Wills draftsperson

In this regard can I assume neither firm have STEP  ( Society of Trust and Estate Practitioners) qualified solicitors on their rosters with specialist expertise, which might explain the current 'logjam'? 

As regards IHT payable, as long as all assets & liabilities and their values have been ascertained, the IHT outcome should be the same whether or not the will  is valid  or partially invalid ( for whatever reason) since none of the beneficiaries have IHT exempt status or have been expressed to inherit IHT free.  

If there is genuine doubt about aspects of the Wills drafting which the original firm are unable to resolve, then I would push for the whole matter be placed before a specialist trust barrister in Chambers for resolution,  with the cost met by the firm who drafted the Will ( this is something I professionally had to arrange for a couple of clients in the pass - the errant firms paid so as to avoid claims on their respective PI insurance). Suggest you put this to your solicitor as a means of progressing this matter sooner rather than later.

In the meantime, by all means prepare the property for sale, but placing it on the market with no clear timeline for when probate will be available may end up wasting the time of genuine prospective purchasers . 

Savvy_Sue

Also note that it's up to the Executor(s) what speed you move at, NOT the beneficiaries. You may need to politely remind them of that from time to time, while reassuring them that you have the situation under control.

Marcon

Lilio8 said:

One of the beneficiaries has now decided 'not' to buy the property and is urging me to empty the property asap, put it on the market asap (about 10 days ago I was asked 'not' to put the house on the market, since beneficiary was thinking of buying it). Both beneficiaries (siblings of the deceased) are also concerned that IHT has not yet been paid. I explained that solicitors are working on it, six months have not passed yet (I'm aware that penalties would be charged if IHT isn't paid within 6 months from the death) there are about 2 months left. IHT has not been paid yet because solicitors are getting all the info together. And we're still far from grant of probate.

1) Can the other 2 beneficiaries (there are 3 of us, my being one) press me to hasten the sale or call the solicitors to press them?

2) Is 4 months too long a time for a legal team to send info to HMRC and get a bill back?

3) Solicitors tell me that they're still waiting to hear from solicitors who wrote the Will about this issue

(please see this https://forums.moneysavingexpert.com/discussion/comment/81152202#Comment_81152202  ).  

I'd very much like to contact the solicitors who wrote the Will and see if they'll reply to me with an answer faster for that issue. But would this be a good idea or leave it to my solicitors to contact them?

1) Of course they can - you can't stop them doing that. However, you and the solicitors can simply ignore them if they do! If you're the executor, you need to take control of the situation - which is often much easier said than done, but the alternative is pretty unsatisfactory for all parties. Putting a house on the market in January, particularly when probate hasn't even been applied for (let alone granted) doesn't sound there best idea ever, and you need to say that.
2) Four months sounds like a hopelessly optimistic time estimate - could be much longer.
3) If you're confident your current solicitor is doing their bit, then if you start getting involved, it's likely to muddy the waters and slow things down (and increase costs).

Lilio8

poseidon1 said:

Lilio8 said:

One of the beneficiaries has now decided 'not' to buy the property and is urging me to empty the property asap, put it on the market asap (about 10 days ago I was asked 'not' to put the house on the market, since beneficiary was thinking of buying it). Both beneficiaries (siblings of the deceased) are also concerned that IHT has not yet been paid. I explained that solicitors are working on it, six months have not passed yet (I'm aware that penalties would be charged if IHT isn't paid within 6 months from the death) there are about 2 months left. IHT has not been paid yet because solicitors are getting all the info together. And we're still far from grant of probate.

1) Can the other 2 beneficiaries (there are 3 of us, my being one) press me to hasten the sale or call the solicitors to press them?

2) Is 4 months too long a time for a legal team to send info to HMRC and get a bill back?

3) Solicitors tell me that they're still waiting to hear from solicitors who wrote the Will about this issue

(please see this https://forums.moneysavingexpert.com/discussion/comment/81152202#Comment_81152202  ).  

I'd very much like to contact the solicitors who wrote the Will and see if they'll reply to me with an answer faster for that issue. But would this be a good idea or leave it to my solicitors to contact them?

Have read your previous ( long thread), and assuming the information you gave about the contents of the Will is accruate, you have a solicitor for the deceased whose will drafting skills seem to leave much to be desired, whilst the solicitor assisting you,   appears to lack the confidence or ability to interpret what is in front of them without clarification from the original  Wills draftsperson

In this regard can I assume neither firm have STEP  ( Society of Trust and Estate Practitioners) qualified solicitors on their rosters with specialist expertise, which might explain the current 'logjam'? 

As regards IHT payable, as long as all assets & liabilities and their values have been ascertained, the IHT outcome should be the same whether or not the will  is valid  or partially invalid ( for whatever reason) since none of the beneficiaries have IHT exempt status or have been expressed to inherit IHT free.  

If there is genuine doubt about aspects of the Wills drafting which the original firm are unable to resolve, then I would push for the whole matter be placed before a specialist trust barrister in Chambers for resolution,  with the cost met by the firm who drafted the Will ( this is something I professionally had to arrange for a couple of clients in the pass - the errant firms paid so as to avoid claims on their respective PI insurance). Suggest you put this to your solicitor as a means of progressing this matter sooner rather than later.

In the meantime, by all means prepare the property for sale, but placing it on the market with no clear timeline for when probate will be available may end up wasting the time of genuine prospective purchasers . 

'...If there is genuine doubt about aspects of the Wills drafting which the original firm are unable to resolve, then I would push for the whole matter be placed before a specialist trust barrister in Chambers for resolution,  with the cost met by the firm who drafted the Will ( this is something I professionally had to arrange for a couple of clients in the pass - the errant firms paid so as to avoid claims on their respective PI insurance). Suggest you put this to your solicitor as a means of progressing this matter sooner rather than later.'

Thanks for that! 
It's going to be interesting...

Lilio8

Savvy_Sue said:

Also note that it's up to the Executor(s) what speed you move at, NOT the beneficiaries. You may need to politely remind them of that from time to time, while reassuring them that you have the situation under control.

I thought so. Thank you for confirming.
They seem to believe that if 'they'll call' the solicitors, things will speed up. As far as I'm aware, they've never been executors not even of their late mother. Solicitors are now aware of possible interference. 
As a side note, the two beneficiaries had not been in touch with my dear latest for 15-20 years, till a couple of months before he passed away.

Lilio8

Marcon said:

1) Of course they can - you can't stop them doing that. However, you and the solicitors can simply ignore them if they do! If you're the executor, you need to take control of the situation - which is often much easier said than done, but the alternative is pretty unsatisfactory for all parties. Putting a house on the market in January, particularly when probate hasn't even been applied for (let alone granted) doesn't sound there best idea ever, and you need to say that.

2) Four months sounds like a hopelessly optimistic time estimate - could be much longer.
3) If you're confident your current solicitor is doing their bit, then if you start getting involved, it's likely to muddy the waters and slow things down (and increase costs).

Thank you for the reply.

1) Indeed, they'll try to push & shove. I remember saying to my late dearest friend 'What I'm worried about is when you'll be gone' and, unfortunately, I was right.

About putting the house on the market in January, I'm also wary of being too hasty in agreeing to a sale price that is going to be below the market value.

I will make that point as you suggested next time I'll meet with the beneficiaries.

2) I thought so too.

3) Agreed.

Savvy_Sue

Savvy_Sue said:

Also note that it's up to the Executor(s) what speed you move at, NOT the beneficiaries. You may need to politely remind them of that from time to time, while reassuring them that you have the situation under control.

Have just read that you're one of 3 executors. That can make life more difficult if you're not in broad agreement.

An option each of you has is to go 'power reserved': you remain as an executor and can step in when or if needed, but you're leaving the work to someone else.

If they'd prefer you to be less involved ... Or would like you to take the lead ... The option is there.

Lilio8

Savvy_Sue said:

Savvy_Sue said:

Also note that it's up to the Executor(s) what speed you move at, NOT the beneficiaries. You may need to politely remind them of that from time to time, while reassuring them that you have the situation under control.

Have just read that you're one of 3 executors. That can make life more difficult if you're not in broad agreement.

An option each of you has is to go 'power reserved': you remain as an executor and can step in when or if needed, but you're leaving the work to someone else.

If they'd prefer you to be less involved ... Or would like you to take the lead ... The option is there.

No, I am the sole executor as well as one of the beneficiaries. There are 3 of us: 3 beneficiaries of whom 1 is the executor (me). Sorry for creating the confusion.

Savvy_Sue

Lilio8 said:

Savvy_Sue said:

Savvy_Sue said:

Also note that it's up to the Executor(s) what speed you move at, NOT the beneficiaries. You may need to politely remind them of that from time to time, while reassuring them that you have the situation under control.

Have just read that you're one of 3 executors. That can make life more difficult if you're not in broad agreement.

An option each of you has is to go 'power reserved': you remain as an executor and can step in when or if needed, but you're leaving the work to someone else.

If they'd prefer you to be less involved ... Or would like you to take the lead ... The option is there.

No, I am the sole executor as well as one of the beneficiaries. There are 3 of us: 3 beneficiaries of whom 1 is the executor (me). Sorry for creating the confusion.

Oh that's good news then: you're in charge, you make the decisions. If they don't like it, offer to put the whole thing into the hands of solicitors who will take MUCH longer than you and charge the proverbial limbs.

You can still get advice on specific aspects - as you have done - while retaining control overall. 

Lilio8

Savvy_Sue said:

Lilio8 said:

No, I am the sole executor as well as one of the beneficiaries. There are 3 of us: 3 beneficiaries of whom 1 is the executor (me). Sorry for creating the confusion.

Oh that's good news then: you're in charge, you make the decisions. If they don't like it, offer to put the whole thing into the hands of solicitors who will take MUCH longer than you and charge the proverbial limbs.

You can still get advice on specific aspects - as you have done - while retaining control overall. 

That's a good idea, threaten to put all in the hands of the solicitors. That should keep them quiet

(the solicitors are now aware that the beneficiaries might try to call/email them to put some pressure).