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House left in will, and selling our shares.

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Comments

  • user1977
    user1977 Posts: 18,246 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Neither party needs to have a solicitor. The other option is the solicitor acts for one party and the other is unrepresented.
  • Keep_pedalling
    Keep_pedalling Posts: 21,400 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    user1977 said:
    Neither party needs to have a solicitor. The other option is the solicitor acts for one party and the other is unrepresented.
    I don’t think it is that simple where a trust is involved.
  • poseidon1
    poseidon1 Posts: 1,753 Forumite
    1,000 Posts Second Anniversary Name Dropper
    OP given the complex background to your query that you did not reveal at outset, and consider inappropriate to reveal now, it was pointless raising this matter on this forum.

    None of the forum contributors here  would even contemplate  being part of an arrangement whereby their parent's matrimonial home  would be placed in a trust during their lifetime with the children as ongoing trustees of such a life time trust. The complexities and pitfalls are simply immense. So there is no shared experience of such arrangements that you can benefit from here.

    Indeed the few OPs who have come to this forum seeking advice on how to untangle these lifetime trust arrangements on death of their parents , has merely reinforced the collective view that they are  deeply undesirable and to be avoided at all cost.

    Suggest you return to the law firm who in their infinite wisdom thought it an arrangement that would suit your family circumstances.
  • RAS
    RAS Posts: 36,023 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I agree with the concerns of both silvercar and poseidon1.

    This whole situation sounds problematic. And if you are only partially briefing the solicitor, they won't understand the complexity so can't advise you as effectively.

    Is this a STEP solicitor? Do they have copied of the trust, the will and the Land Registry documents.

    At the very least, I'd ask them in writing to confirm that they have identified all HMRC liabilities relating to the trust and property.
    If you've have not made a mistake, you've made nothing
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