Splitting the Assets

SevenOfNine · 23 January 2019 at 11:11PM

You have not spoken to SiL for 5 years yet she was happy to part with a bigger share of her inheritance in favour of her brother. Sorry, but I smell something a bit fishy.

Paddy's mum's suggestion is an interesting one. Interesting in that are you sure HE hasn't taken that course of action, having taken additional monies from his sister in the form of an official loan, legally watertight.

In which case should he die before you there would be a debt against his estate which would have to be repaid. Ownership as tenants in common means your fears could well be realised.

The deeds you have from the bank are not what you need, see keep pedalling's thread #5. You DO need to be quite sure a restriction hasn't been added, & you need to be sure it stays that way.

I'm afraid your husband has demonstrated he will go against your wishes, & behind your back. I'm not convinced SiL had the best of intentions seeing as the two of you seem to have no relationship! Giving her brother a bigger share with no strings is the same as giving it to you as well.....really?

Tom99 · 24 January 2019 at 9:20AM

Is SIL well off? Does she have children?

paddy's_mum · 24 January 2019 at 11:26AM

SevenOfNine wrote: »

I'm afraid your husband has demonstrated he will go against your wishes, & behind your back.[/I]

This is my point, exactly. As I pointed out in another thread only a day or two ago, the moment something is hidden, it creates and invites suspicion.

I find it interesting that this husband is happy to risk his reputation, his home life and indeed his marriage for a bigger share of the pie, out of which he had already been willed a (presumably) fair share.

My advice to the OP was to take quiet steps to find out what the true facts actually are and take steps to protect her own position.

badmemory · 24 January 2019 at 1:10PM

Are you positive that there were no other assets of the estate, such as cash savings left or a life insurance payout? Unless the care home was quite cheap or the rent on the house very high it is unlikely that his income alone would be enough!

PrettyWoman · 24 January 2019 at 3:51PM

Yorkshireman99 wrote: »

I may be quite wrong but are we absolutely sure that the arrangement was not done freely between the two siblings? As executor the sister had no obligation to distribute the estate that way and if the other party was agreeable then nothing wrong has been done. Only if the brother applied undue pressure in some way could there be any complaint. In view of the rift between the OP and the executor I am suspicious.

The arrangement has been done freely as if you actually met my husband you would realise he is completely incapable of applying any undue pressure. The words boo and goose spring to mind!
Yes, the sister could and should have distributed the estate as per the will but she has chosen to do it in my husbands favour as he told her that he needs financial security to help with his (undiagnosed) depression.

PrettyWoman · 24 January 2019 at 3:53PM

SevenOfNine wrote: »

You have not spoken to SiL for 5 years yet she was happy to part with a bigger share of her inheritance in favour of her brother. Sorry, but I smell something a bit fishy.

Paddy's mum's suggestion is an interesting one. Interesting in that are you sure HE hasn't taken that course of action, having taken additional monies from his sister in the form of an official loan, legally watertight.

In which case should he die before you there would be a debt against his estate which would have to be repaid. Ownership as tenants in common means your fears could well be realised.

The deeds you have from the bank are not what you need, see keep pedalling's thread #5. You DO need to be quite sure a restriction hasn't been added, & you need to be sure it stays that way.

I'm afraid your husband has demonstrated he will go against your wishes, & behind your back. I'm not convinced SiL had the best of intentions seeing as the two of you seem to have no relationship! Giving her brother a bigger share with no strings is the same as giving it to you as well.....really?

Exactly, I am suspicious too!

PrettyWoman · 24 January 2019 at 3:56PM

paddy's_mum wrote: »

This is my point, exactly. As I pointed out in another thread only a day or two ago, the moment something is hidden, it creates and invites suspicion.

I find it interesting that this husband is happy to risk his reputation, his home life and indeed his marriage for a bigger share of the pie, out of which he had already been willed a (presumably) fair share.

My advice to the OP was to take quiet steps to find out what the true facts actually are and take steps to protect her own position.

When my husband originally suggested asking his sister for a bigger share I said I wanted it on record that I did not support him and I wanted his sister to know that. I said that this could potentially cause a whole raft of family problems down the line, at the time thinking of a possible rift between him and his sister. I didn’t for one minute think that it would cause these problems for us so that is my own naivety 😕

PrettyWoman · 24 January 2019 at 4:10PM

Tom99 wrote: »

Is SIL well off? Does she have children?

SIL is very well off. With her husband owns two susbstantail properties outright, three grown up sons who have all flown the nest. All privately educated, all been to university and left with no student debt. She has never had to work. She spends approximately third of her time on holiday.

We live in a normal town house, two boys state educated, both still at home (19 & 17), I’ve always worked full time and contributed equally to our household.

PrettyWoman · 24 January 2019 at 4:14PM

badmemory wrote: »

Are you positive that there were no other assets of the estate, such as cash savings left or a life insurance payout? Unless the care home was quite cheap or the rent on the house very high it is unlikely that his income alone would be enough!

Care home was at the cheaper end of the scale, SIL saw to that as I was excluded from discussions when it came to finding a home. FIL was placed 100 miles from nearest relative. Along with rental income and very good final salary pension as well as state pension there were no outstanding fees from the care home. There was some cash and that was distributed to the five grandsons @ £5000 each as per the will.

My husband doesn’t know that I know how much the house sold for. He thinks I’m still under the illusion that he got his fair share and I should be grateful he’s used his inheritance to pay off our mortgage.

Keep_pedalling · 24 January 2019 at 4:37PM

PrettyWoman wrote: »

SIL is very well off. With her husband owns two susbstantail properties outright, three grown up sons who have all flown the nest. All privately educated, all been to university and left with no student debt. She has never had to work. She spends approximately third of her time on holiday.

We live in a normal town house, two boys state educated, both still at home (19 & 17), I’ve always worked full time and contributed equally to our household.

That may be all there is too it, in her shoes i would be happy to let a less well off sibling get a greater share.

Your husband should have been more honest with you, but I can also see why he would do this if he thought you would veto what was an amicable agreement with his sister. I know some people are uncomfortable with receiving what they might regard as charity, but you should not look at it that way. Life has been kind to her, and it seems to me that she may simply be trying to even life’s breaks out a little between herself and her brother.

From an inheritance tax planning point of view this also makes good sense.

Splitting the Assets

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