Will, probate and difference of opinion :(

littlehobbit · 16 January 2016 at 5:53PM

I really hope someone can help, or point me in the right direction.

A relative has recently died. They left a will leaving named items to another family member, and the 'residual estate' to myself. Both of us are also the named executors. Both of us seem to have a very different understanding as to what our responsibilities are and what we need to do next.

I have done some research, and thought I had got some understanding, but family members (including the other executor) do not agree with me.

There is a property involved, along with some money in the bank and a life insurance policy etc. I thought that if 'a significant amount of money is involved, and/or property' then we have to apply for grant of probate?

I am being told this is not needed as a will makes it straightforward, and removes the need to apply for grant of probate. Have I misunderstood?

I thought grant of administration was for when there was no will, and grant of probate was if there was a will and significant money (ie property)

I'm also being told that as the will says I have only been left the 'residual estate' It means 'just the house'. Therefore everything else not specifically mentioned (money in the bank, life insurance etc) has to be shared and is not mine. However I thought the term 'residual estate' relates to everything else owned by the person (apart from items specifically left to others), not just their property?

Feeling very confused, I also feel very guilty that we are starting to squabble over money at a time like this

unforeseen · 16 January 2016 at 6:04PM

The residual estate is EVERYTHING remaining after debts have been paid and all bequests have been satisfied.

In your case it means that the family member gets the named items and you get everything else, be it house, cash in bank, shares, vehicles, other items in the house etc

jackyann · 16 January 2016 at 6:08PM

I would begin with one of the simple books on being an executor, and suggest that others read it. You can also read clear instructions on gov.uk.

I usually suggest the Probate Office, and think your local one worth a try even though you've not yet been in touch.

I also think that if there is any fuss, then suggest you both go to a solicitor.

Your post appears clear. However "named items" unless another property, or some astonishing valuable piece of art, rarely come near the value of a residual estate that includes a house & a life insurance.
It seems slightly strange to have named 2 executors and left them very disparate amounts (although deceased may have had their reasons).

This is why it may be sensible to get a solicitor to advise, as they will be seen as neutral. You can suggest that the solicitor is paid from the estate.

Good luck! I have to say that this forum throws up all sorts of will problems!

littlehobbit · 16 January 2016 at 6:10PM

oh yes, sorry I meant after bills, debts etc have been paid out of course. Thanks for reply.

moneyistooshorttomention · 16 January 2016 at 6:14PM

Get an independent objective outside authority to decree whats what.

For which - I would suggest the "Which Guide - Wills and Probate". I expect there are a lot of copies of this on Amazon.

It will be difficult for anyone to argue with Which?

wwl · 16 January 2016 at 6:17PM

You will need to apply for Probate in order to transfer the property to the name of the beneficiary. Other institutions holding assets may also need a grant of probate to release funds.

littlehobbit · 16 January 2016 at 6:19PM

Thankyou Jackyann. I have tried to direct the other executor to read up on the same things I have, but they just say 'there is no need to read anything, we have a will, we just divide it up, no need to get anyone involved'

The frustrating thing is, if we do have to get a solicitor involved, then the fees will come from the estate, so will not affect the other executor.

I can not really answer your query about why it has been divided as it has (ie the specified items being left to one person and the rest to me) Yes I agree that I probably have been left more than the other person, that was what my relative wished I guessed

TonyMMM · 16 January 2016 at 6:26PM

You will need probate just because of the property, which won't be able to be transferred or sold without it.

It sounds like your co-executor is a little scared of the process so perhaps they might want to step aside and reserve their powers, letting you deal with it on their behalf. There is no need to use a solicitor though - it can be a quite straightforward.

Yorkshireman99 · 16 January 2016 at 6:31PM

littlehobbit wrote: »

Thankyou Jackyann. I have tried to direct the other executor to read up on the same things I have, but they just say 'there is no need to read anything, we have a will, we just divide it up, no need to get anyone involved'

The frustrating thing is, if we do have to get a solicitor involved, then the fees will come from the estate, so will not affect the other executor.

I can not really answer your query about why it has been divided as it has (ie the specified items being left to one person and the rest to me) Yes I agree that I probably have been left more than the other person, that was what my relative wished I guessed

Your co-executor is either being stupid or underhand. The fact she refuses to read the book suggest the latter. Because there is a property involved and the size of the estate there is no option but to apply for probate. Just apply for probate and tell her to see you in court if she does not agree. Let her spend her money consulting a solicitor.

littlehobbit · 16 January 2016 at 6:42PM

Thank you for your replies, it has reassured me that I am hopefully understanding things correctly (or at least a little more correctly than the other executor) I have asked for the paperwork for grant application, but I doubt that I will be able to proceed on my own without their consent at least, as we are joint executors. I was worried about inheritance tax, but I think everything added together will be much lower than the threshold for that, even if we are still obliged to fill out the form for that.

wwl · 16 January 2016 at 6:53PM

littlehobbit wrote: »

The frustrating thing is, if we do have to get a solicitor involved, then the fees will come from the estate, so will not affect the other executor.

You do not need to get a solicitor involved. Applying for Probate is just some form filling. The only thing you need a solicitor for is to swear the oath, which should be about £5-10 per person.
As mentioned above, you could ask the other executor to reserve powers so they don't need to get involved. (They don't even need to fill in or do anything to say they're reserving powers, you just state it when you make the application).

Will, probate and difference of opinion :(

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