Will queries

Chazolate

Hi, hoping for some guidance here regarding my mums will.

50% left to my brother
25% to me (daughter)
25% to granddaughter (11)


Stated in the will no money should be left to her partner. She was still legally married to my dad but no mention of him. When she left my dad they sold houses and split money. She has roughly £100k in banks because of this.


1. She paid £32k lump some to her partner to pay off his mortgage when she moved in. She kept his and her bank statements to show the money was given to him but nothing was put into writing. She has included this info with her will and said she wanted us to have the money but I assume there would be no way to claim this. 

2.  My daughter is 11 do I just set up a trust fund with a bank for her inheritance or is it more complicated than that?

3. My brother and I are joint executors should we set up a joint account for the banks to pay into? Do we apply for probate together? Or can one of us deal with it?

I thought I’d try here first and if it’s too complex look to pay a solicitor.

YBR

Sorry for your loss

1. Without paperwork to say otherwise, this £32k is a gift to her partner. If by she "said she wanted us to have the money" there is an explicit statement that it was a loan it might be possible to pursue, but is it realistic to get this amount from the partner, and at what cost emotionally/to relationships when you're all grieving. At a guess I'd assume it's better not to.

2. Is there anything in the will to say whether the g'daughter's share should be in trust? If not then good savings account(s) in her name operated by yourself as parent will allow you and her to use it appropriately while she's still a child, or perhaps an ISA to lock it (or some of it) away until she's 18. You'll presumably have a feel for what your mum wanted, and if any might be wanted to support g'daughter. If it's a large amount you might put some in an ISA, and some in savings, and some in an account she can access and learn to manage.

Unless your mum's affairs/estate were particularly complex, you should be able to do probate yourself.

Keep_pedalling

YBR said:

Sorry for your loss

2. Is there anything in the will to say whether the g'daughter's share should be in trust? If not then good savings account(s) in her name operated by yourself as parent will allow you and her to use it appropriately while she's still a child, or perhaps an ISA to lock it (or some of it) away until she's 18. You'll presumably have a feel for what your mum wanted, and if any might be wanted to support g'daughter. If it's a large amount you might put some in an ISA, and some in savings, and some in an account she can access and learn to manage.

The fact that the OPs daughter is a minor dictates that her inheritance must be held in trust until she is 18 (16 in Scotland).

millie

Is the increase for postal copies or is it for downloads too.

Keep_pedalling

millie said:

Is the increase for postal copies or is it for downloads too.

I think you have posted on the wrong thread!