Will executor nightmare

Midway2942

I have been named on the will as executor to my recently deceased step-mothers estate. Named on the will as joint beneficiaries are myself, my brother (her other step-son) and her own son and daughter, with all receiving a 25% share. As far as I'm aware the only assets she has are a bungalow, which her son, daughter and her daughters children are currently living in. My step mother was in a nursing home with dimentia at the time of her death.

Her daughter (my half sister), who is very overbearing, wants me not to bother using the named solicitor on the will for probate, instead wanting me to do it online to save in solicitors fees. However, on speaking to the solicitor involved he warned me against doing that, considering the potential ramifications arising from them currently living in the property.

I'm torn as what to do now, I don't realy need my share of the estate but my brother does, I'd walk away but I'm certain my half sister is trying to manipulate me into doing something that would benefit her (she would take her brothers share off him in a heartbeat, he has big mental health issues and is useless with money). What a mess, any advice?

lincroft1710

Interesting that you have been named as executor rather than her own children. As executor you carry out the wishes of the deceased as written in their will which means using the solicitor therein mentioned.

Being left a 25% share in a property occupied by beneficiaries who have 50% share is going to cause problems

Mands

https://forums.moneysavingexpert.com/discussion/6662269/will-executor-nightmare

Put to one side, for now, who executes the will and lets address the elephant in the room.

4 siblings (full and half) inherit in equal shares. Two of the siblings, and their offspring, inhabit the property which is the only asset.

What do you see happening here? Either they stay (for a year, for 5 years, until they die?) in the property and you forgo your inheritance indefinitely OR they move out and the property is sold. Those are the two extremes (assuming the siblings do not have funds to buy you both out), so which do you lean towards?

Savvy_Sue

If the solicitors are named as executors with you, and in this messy situation, I'd certainly let them do their stuff. You'll still have to do some work, but it will be done right, and aggrieved parties can argue with the solicitors not you.

What does the will say about these solicitors? And does the will indicate any right for stepbrother and sister to remain in the home?

RAS

Your step mother probably knew her children. In this case using the solicitor will protect you and your siblings against abuse by the overbearing sister. Looks like no-one other than sister are going to benefit if you DIY and none of the relationships are going to be cordial going forward.

Let the solicitor do what mum wanted. Discuss with them what would happen if you decided to renounce, and leave them to sort it out, which might be something you suggest to sister if she is overbearing.

Did anyone have POA for step-mum?

And if you don't want/need your inheritance, you personally can use a deed of variation to funnel it where you want, within 2 years of death (providing you don't claim means-tested benefits).

Notepad_Phil

I assume there'll be no inheritance tax to pay, but will there be enough cash in the estate to pay the solicitor or as I assume you won't want to pay it all would it mean that the house needed to be sold pretty quickly to satisfy that multi thousand £ bill?

Keep_pedalling

There is a half way house, you apply for probate and once you have it use a solicitor to get them out if they refuse to do so.

Midway2942

Hi thanks for the advice so far. Just to answer a few questions:

I'm sure I was appointed executor as my half sister is incaplable of fair, reasonable behaviour when it comes to money. She has proved that in the past. She said she wants to stay in the property till next January "when her credit score improves" before using her share to put down a deposit on another property, also stating her brother would move in with her. I'd be happy with that but it won't be that simple no doubt.

The will mentions no right to them staying in the bungalow after their mothers death, but again, I don't want to kick them out onto the street. It also states the solicitors are the trustees of the will. If I renounce, I think it's clear it would only benefit my half sister going forward.

Midway2942

Oh and just to add, estate would not be subject to inheritence tax, best case scenario we'd be looking at £25-30k each after the sale of the property, less solicitors costs which I'd imagine would run into five figures if things got messy…..

Worried_fool

Firstly, solicitors' fees vary widely. I suggest that you get an estimate of the cost of using the nominated solicitor to obtain probate, as well as quotations from a few other firms. There might be scope for large savings.

Secondly, obtaining probate is not the same as distributing the estate. That is going to be the contentious part of the job, and is also something for which solicitors tend to charge large amounts.

Thirdly, rather than selling the property you could arrange a valuation for rental purposes, so that the people living in the house could pay fifty per cent of this amount to your brother and you.A regular income might be far better for him than a lump sum.

Midway2942

https://forums.moneysavingexpert.com/discussion/comment/81946647#Comment_81946647

Well the solicitor who is named quoted 1% of the total estate value plus £200/hr for everything else. I don't know what that is like compared to other local firms but seems par for the course going off online searches. He did admit the overall cost could vary widely depending on how co-operative the other parties would be.

I assume if we went along the online probate route there would still additional charges beyond the original fee as it won't be straight forward and we might need to get another solicitor involved at some point?

With regards charging them rent to stay in the property, I could try that but doubt I would see a penny of it….