Will and Probate issues

Warren100uk

Hi all,

I have previously made posts about this but thought it best to start a new one as things are getting very confusing. MIL sadly passed away and left her will here are the main points:

1:Me and wife cared for her for 5 years and she gave us a 2 year right to stay

2:The will should have been handled by a local solicitor, however they were bought out and the new one did not automatically take over and price 15k plus VAT to action the will

3:Only main asset is the house worth 450K on probate valuation and 3k in bank account

4: 4 sisters are in the will to inherit the house spilt different amounts 2 not wanting to generally be involved or be executors

5: As far a we know there will be no inheritance tax to pay

My wife's sister, arranged with the CO OP to take over at a fee of around 8k which was fine. At first the only wanted 1k upfront but after speaking to them that was if the house was put on the market after lets say 12 to 15 months which may have been arranged without consulting us. We explained that we could be here for the 2 years as we need to rest after caring for MIL and then sort ourselves out. The other sister continued to arrange it and it was all fine with no upfront fee apart from the 1k. For some reason, COOP now want the 8k upfront and will not proceed without payment. The other sister now wants to apply for probate as she says its around £600 to do and most of the forms have been completed by COOP and we have the copies so she can transfer the information, COOP have said there will be no fees if we chose not to use them.

Me and my wife are very confused by it all to be honest. So, can the other sister do the probate , then is it that come the 2 years the house goes up for sale and then we use a solicitor and estate agent to sell the house? Does the house need to be transferred to the names of the 4 sisters as it will not be sold for 2 years? Who would be responsible to split the proceeds from the sale, the solicitor we use and one of the sisters? Hope that all makes sense, any advice would be apricated. Thanks

sammyjammy

She gave you two years not two years plus however long it takes to sell, its reasonable to expect them to want to list it for sale before the two years is up.

RAS

The house will be owned by the estate of Mrs MIL and can be sold directly by the estate to the new owner. This is generally a much better option than transferring to the beneficiaries not least as that property transfers takes time at the Land Registry and it should be quicker.

Warren100uk

https://forums.moneysavingexpert.com/discussion/comment/82099644#Comment_82099644

Hi Sammy,

Thanks for your reply, sorry I did not say that in the will, MIL wrote that the house shall not be put up for sale until after 2 years from her passing.

Warren100uk

https://forums.moneysavingexpert.com/discussion/comment/82099664#Comment_82099664

Thanks RAS, it was COOP that suggested to transfer it to them all. Good to know it may not be needed

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/82099684#Comment_82099684

In which case this is just a wish and cannot be enforced.

RAS

https://forums.moneysavingexpert.com/discussion/comment/82099684#Comment_82099684

Is this what is stated in the will or "an expression of wishes"?

The latter has no legal status if other beneficiaries want to challenge it.

That may explain the differences in expectations between your wife and other beneficiaries?

Warren100uk

https://forums.moneysavingexpert.com/discussion/comment/82099878#Comment_82099878

The right to stay section

Reed_Richards

I'm no lawyer but surely your mother-in-law's "legal and beneficial interest in the property" ceases immediately upon her death? So the request not to transfer something that she doesn't have until two years after her death is not legally binding on her executors? But I could be completely wrong, in which case I hope someone will point this out.

Keep_pedalling

I have asked the mods to remove the first part details of the will in the OPs last post as it contains their home address.

Warren100uk

https://forums.moneysavingexpert.com/discussion/comment/82100120#Comment_82100120

Thank you for that