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Will reading

2

Comments

  • jemz0001
    jemz0001 Posts: 93 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Sorry there was an auto correct it should be "tenants in common"

    There is no provision for pre decreasing parent.

    There has been nothing done with the will as my aunt is saying that it's too emotional for her to deal with it yet and my father wants to get everything resolved before any one else on the chain passes away.

    I have a picture of the will but unsure how to upload it.

    It was a will made with a solicitor and witnessed.
    Mortgage - 05/03/10
    £ 110,743.90 Aim to reduce mortgage to 105k by end of 2010

    Car loan - 05/03/10
    £5093.15 Aim to pay off car loan by end of 2010 :j
  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
    If the executor refuses to act they can resign or be replaced. You can apply for letters of administration with the will attached. This needs to be done urgently as well as notifying banks and building societies.
  • chesky
    chesky Posts: 1,341 Forumite
    Eighth Anniversary 1,000 Posts
    I would ask the solicitor concerned to ask for an interpretation of the wording.
  • nom_de_plume
    nom_de_plume Posts: 966 Forumite
    Part of the Furniture 500 Posts
    jemz0001 wrote: »
    Will says to be equally divided between my 2 daughters on a share and share alike basis as if tenants in common

    My (amateur) interpretation of this is that the intention is for whatever this phrase refers to to be split 50:50 between daughters and, in the absence of any wording to the contrary, the rules of succession would apply and you and your sibling(s) would inherit your Mum's share - https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm12084
  • nom_de_plume
    nom_de_plume Posts: 966 Forumite
    Part of the Furniture 500 Posts
    Difference between joint tenants and tenants in common - albeit in relation to property ownership...

    If property is owned as Joint Tenants the Rule of Survivorship applies. This means that if one of the co-owners dies, the survivor/s will automatically inherit the deceased!!!8217;s share equally between them, regardless of what the Will or the Intestacy Rules say.

    If property is owned as Tenants in Common the Rule of Survivorship does not apply, which means that if one of the co-owners dies then the provisions of their Will (or if there is no Will, the Rules of Intestacy) will determine what happens to their share.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    All the wording in the will is important as there is what is know as the section 33 rule as referenced by Tom99 earlier.

    the law is in this legislations.
    http://www.legislation.gov.uk/ukpga/Will4and1Vict/7/26/section/33
  • jemz0001
    jemz0001 Posts: 93 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Is there anyone I could send a picture of the full will to that could read and advise fully?
    Mortgage - 05/03/10
    £ 110,743.90 Aim to reduce mortgage to 105k by end of 2010

    Car loan - 05/03/10
    £5093.15 Aim to pay off car loan by end of 2010 :j
  • Tom99
    Tom99 Posts: 5,371 Forumite
    1,000 Posts Second Anniversary
    jemz0001 wrote: »
    Is there anyone I could send a picture of the full will to that could read and advise fully?

    [FONT=Verdana, sans-serif]Email a few local solicitors they might even give you 1/2hr for free.[/FONT]
  • chesky
    chesky Posts: 1,341 Forumite
    Eighth Anniversary 1,000 Posts
    jemz0001 wrote: »
    Is there anyone I could send a picture of the full will to that could read and advise fully?

    Or go back to the original one - sounds like he might owe you that.
  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
    jemz0001 wrote: »
    Is there anyone I could send a picture of the full will to that could read and advise fully?
    If you are unsure it would be false economy. You really MUST get paid for professional advice. It would be foolish to do otherwise.
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