Inherited Property

Mintyrose

Newly_retired said:

It concerns me that the will doesn't say the house should be sold within two years. When the time is up, your brother could be making  noises about staying put or just not co-operate with the sale and then you will be waiitng a long time for your inheritance.

The will days, brother has 2 years to decide wether to buy me out or we sell up, but he’s already implied that he will take the full 2 years, therefore running down the time we can get a mortgage for our own home, husband is 57, and we can only get a 9 year mortgage now, so the longer it goes on and I mean dad is 86 he could be 100+ it just all runs years down, and he’s sent me a text saying ‘ I’m really looking forward to the next time we have to interact, instead of poking into my business you should spend the time prepping’,,, I’d informed my dad that brother had set up a business for a person who has just gone bankrupt, using my dads address, he hadn’t told dad, and dad and bro have same name and if you Google my dads name, this new company pops up,,, I don’t want bailiffs or disgruntled people who are owed money turning up at his home, or even it being seized to pay debts? It’s all so very stressful 

Mintyrose

RAS said:

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

I don’t have a will no, as at this moment in time I have nothing to leave anyone, I think im going to engage a solicitor of my own to represent me, so I don’t even have to have contact, it may be easier all round, I don’t know all details of the will, when it would be read, can I send a solicitor instead of myself, I’m just trying to protect myself and my family 

BikingBud

As much as I have understand your situation I feel you also need to live your own life.

Fretting about and waiting for an inheritance that may not transpire for many reasons will only consume your life. Make decisions based upon what you have and KNOW now. If you are fortunate at a later point to inherit then take the bonus and see how it might improve your standing. But don't let it consume you now it will fester and generate further bitterness. 

Savvy_Sue

Mintyrose said:

RAS said:

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

I don’t have a will no, as at this moment in time I have nothing to leave anyone, I think im going to engage a solicitor of my own to represent me, so I don’t even have to have contact, it may be easier all round, I don’t know all details of the will, when it would be read, can I send a solicitor instead of myself, I’m just trying to protect myself and my family 

"The reading of the will" is a Victorian / dramatic fantasy in general. I'm not saying it never happens, but it's unusual for The Family to gather to hear The Family Solicitor read the will aloud. 

So what does happen? If the executors know who they are, and where the will is, then it's straightforward to read it informally (assuming they don't already know what it says) and get cracking. If you want to appoint a solicitor to engage with your brother, no problem, but you will be responsible for those costs, and the solicitor may want paying before your inheritance is finalised. 

I would strongly encourage your father to make sure the will is safely with his solicitor (and I'm hoping it's a solicitor-written will). If it's tucked away at home, it may prove difficult to find - although that might end up being to your advantage. 

madbadrob

Savvy_Sue said:

Mintyrose said:

RAS said:

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

I don’t have a will no, as at this moment in time I have nothing to leave anyone, I think im going to engage a solicitor of my own to represent me, so I don’t even have to have contact, it may be easier all round, I don’t know all details of the will, when it would be read, can I send a solicitor instead of myself, I’m just trying to protect myself and my family 

"The reading of the will" is a Victorian / dramatic fantasy in general. I'm not saying it never happens, but it's unusual for The Family to gather to hear The Family Solicitor read the will aloud. 

So what does happen? If the executors know who they are, and where the will is, then it's straightforward to read it informally (assuming they don't already know what it says) and get cracking. If you want to appoint a solicitor to engage with your brother, no problem, but you will be responsible for those costs, and the solicitor may want paying before your inheritance is finalised. 

I would strongly encourage your father to make sure the will is safely with his solicitor (and I'm hoping it's a solicitor-written will). If it's tucked away at home, it may prove difficult to find - although that might end up being to your advantage. 

Just to add tothis (Thanks Sue you saved me a lot of typing) because there is a house involved the solicitor named as executor with you both will insist on probate being granted.  The will then becomes public knowledge although as named executor you should see a copy of the will on death.

I remember you saying that your brother uses the same solicitor as your dad and therein lies a conflict for me.  He is where the executorship is concerned the solicitor of your (then late) father.  He cannot therefore represent your brother in this matter.  This is something id want clarifying.  Employing your own solicitor is probably a good idea but it could cost you more than you would like to spend thus reducing the mortgage availability again.

With regards to the business being listed at your fathers address and similar names this could be an issue when youre looking to pay debtors.  Out of interest the business set up by your brother was it a limited company?  Whose name was on the business if it was a sole trader

Rob

Mintyrose

madbadrob said:

Savvy_Sue said:

Mintyrose said:

RAS said:

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

I don’t have a will no, as at this moment in time I have nothing to leave anyone, I think im going to engage a solicitor of my own to represent me, so I don’t even have to have contact, it may be easier all round, I don’t know all details of the will, when it would be read, can I send a solicitor instead of myself, I’m just trying to protect myself and my family 

"The reading of the will" is a Victorian / dramatic fantasy in general. I'm not saying it never happens, but it's unusual for The Family to gather to hear The Family Solicitor read the will aloud. 

So what does happen? If the executors know who they are, and where the will is, then it's straightforward to read it informally (assuming they don't already know what it says) and get cracking. If you want to appoint a solicitor to engage with your brother, no problem, but you will be responsible for those costs, and the solicitor may want paying before your inheritance is finalised. 

I would strongly encourage your father to make sure the will is safely with his solicitor (and I'm hoping it's a solicitor-written will). If it's tucked away at home, it may prove difficult to find - although that might end up being to your advantage. 

Just to add tothis (Thanks Sue you saved me a lot of typing) because there is a house involved the solicitor named as executor with you both will insist on probate being granted.  The will then becomes public knowledge although as named executor you should see a copy of the will on death.

I remember you saying that your brother uses the same solicitor as your dad and therein lies a conflict for me.  He is where the executorship is concerned the solicitor of your (then late) father.  He cannot therefore represent your brother in this matter.  This is something id want clarifying.  Employing your own solicitor is probably a good idea but it could cost you more than you would like to spend thus reducing the mortgage availability again.

With regards to the business being listed at your fathers address and similar names this could be an issue when youre looking to pay debtors.  Out of interest the business set up by your brother was it a limited company?  Whose name was on the business if it was a sole trader

Rob

Hi Rob

ok, so he’s a ‘director’ of 3 companies, 2 registered at my dads address but all Ltd companies, 2 of the companies only have his name and address, he set up this latest company for someone who has gone just previously gone bust,, website still up and running 

Mintyrose

Savvy_Sue said:

Mintyrose said:

RAS said:

You have got your own will sorted out? With robust executors?

Respecting the issue of creating a tenancy in common, it is usual for the house to be sold from the estate, so at no point would the solicitor create a joint tenancy between you and your brother.

You need to speak to a lawyer other than the executor if they suggest putting the property into the names of your brother and yourself. I'd suggest you need to avoid as it gives brother much more leverage but do take advice at the relevant time.

I don’t have a will no, as at this moment in time I have nothing to leave anyone, I think im going to engage a solicitor of my own to represent me, so I don’t even have to have contact, it may be easier all round, I don’t know all details of the will, when it would be read, can I send a solicitor instead of myself, I’m just trying to protect myself and my family 

"The reading of the will" is a Victorian / dramatic fantasy in general. I'm not saying it never happens, but it's unusual for The Family to gather to hear The Family Solicitor read the will aloud. 

So what does happen? If the executors know who they are, and where the will is, then it's straightforward to read it informally (assuming they don't already know what it says) and get cracking. If you want to appoint a solicitor to engage with your brother, no problem, but you will be responsible for those costs, and the solicitor may want paying before your inheritance is finalised. 

I would strongly encourage your father to make sure the will is safely with his solicitor (and I'm hoping it's a solicitor-written will). If it's tucked away at home, it may prove difficult to find - although that might end up being to your advantage. 

Hi Sue 

Yes it’s solicitor written and with the solicitor, he does have a copy at home but I’ve not seen it, just been told what he expects and I want to make that happen 🙂