First time Help Needed/ Bit Of A Mess

poseidon1

Cubicsrube said:

Yes the solicitor can't act for one executor without the agreement of the others.
But tbh - as I understand this - as a layperson who has gone through it, not a professional I hasten to add -  it doesn't sound like there is much for you to worry about. The only asset you have a stake in is the house (since the partner gets everything else per the will), and the partner has a lifetime interest in the house so nothing can be done with it until they die. Like others have said, your parent's will created a trust which needs to be registered (the solicitor will do that) and you and your sibling will be made trustees, so when the partner eventually dies you'll know about it as the trust will end. Your share of the house will then come to you, or your heirs.

What are you primarily worried about? It sounds like your step-parent is doing what they need to do, though perhaps without being as communicative or gracious as you'd like...

Depending on their level of competency, I  would suggest  the solicitor might register it  with HMRC (it's not a given, it has been noted on this forum this occasionally being overlooked by the professional concerned ).

What also  may well  be overlooked is the eventual addition of the OP  as a registered co owner of the property in their capacity as trustee of the ongoing trust, together with a Form A Restriction on title to prevent any dealings with the property without the OPs involvement.

Given the OP has no ongoing relationship with the step parent, they must safeguard themselves against a  potential sale, gift, equity release, mortgaging ( etc) of the property which would adversely effect their reversionary beneficial interest in the trust.

 If this safeguarding issue is not raised by the solicitor at any point, the OP should certainly  raise it and ensure the measures are implemented.

TP77

poseidon1 said:

Cubicsrube said:

Yes the solicitor can't act for one executor without the agreement of the others.
But tbh - as I understand this - as a layperson who has gone through it, not a professional I hasten to add -  it doesn't sound like there is much for you to worry about. The only asset you have a stake in is the house (since the partner gets everything else per the will), and the partner has a lifetime interest in the house so nothing can be done with it until they die. Like others have said, your parent's will created a trust which needs to be registered (the solicitor will do that) and you and your sibling will be made trustees, so when the partner eventually dies you'll know about it as the trust will end. Your share of the house will then come to you, or your heirs.

What are you primarily worried about? It sounds like your step-parent is doing what they need to do, though perhaps without being as communicative or gracious as you'd like...

Depending on their level of competency, I  would suggest  the solicitor might register it  with HMRC (it's not a given, it has been noted on this forum this occasionally being overlooked by the professional concerned ).

What also  may well  be overlooked is the eventual addition of the OP  as a registered co owner of the property in their capacity as trustee of the ongoing trust, together with a Form A Restriction on title to prevent any dealings with the property without the OPs involvement.

Given the OP has no ongoing relationship with the step parent, they must safeguard themselves against a  potential sale, gift, equity release, mortgaging ( etc) of the property which would adversely effect their reversionary beneficial interest in the trust.

 If this safeguarding issue is not raised by the solicitor at any point, the OP should certainly  raise it and ensure the measures are implemented.

Thank you, I'll make sure this is raised with the solicitor

TP77

Just to confirm as parent and parent were married, any assets still have to be frozen and can't be touched until after probate has been granted?

What happens in the instance of paying for funerals and solicitors fee for probate? Is that covered by the 3 executors and then claimed back or can some assets be released for payment? And if it can, do all 3 executors have to agree that can happen?

Thank you for all the help so far, it's a minefield and want to be doing the right thing 

poseidon1

TP77 said:

Just to confirm as parent and parent were married, any assets still have to be frozen and can't be touched until after probate has been granted?

What happens in the instance of paying for funerals and solicitors fee for probate? Is that covered by the 3 executors and then claimed back or can some assets be released for payment? And if it can, do all 3 executors have to agree that can happen?

Thank you for all the help so far, it's a minefield and want to be doing the right thing 

Frankly you are making this matter far more complicated that it needs to be.

You have pointed out that other than the interest in the house trust which you and sibling do not receive until death of step parent, you inherit nothing.

 All other assets went to the step parent. That being case all costs related to the administration of the estate are paid out of the step parent's inheritance ( nothing to do with you and your sibling).

In your 21 January post you indicated that the solicitor has given you the option to step back from the probate application, and simply have  your trustee interest in the house secured when the estate administration is completed.

You should accept that sensible offer since you accrue no benefit at all being involved in the estate admin process. 

 In fact, involving you both in probate and subsequent estate administration becomes counterproductive since it slows down the whole process and increases the  solicitor's costs to the irritation of the surviving step parent and solicitor alike.

My advice , if it's not too late you should  both step back and  elect for the  executorship power reserve option to be implemented so that step parent and solicitor can get on with the task in hand, bearing in mind all costs fall on the estate residue belonging to the step parent. 

As for safe guarding your reversionary interest in the house, I already covered that in my last post.