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  • FIRST POST
    • gll5dm
    • By gll5dm 9th May 17, 8:51 AM
    • 112Posts
    • 73Thanks
    gll5dm
    Very difficult situation regarding grandmother's will
    • #1
    • 9th May 17, 8:51 AM
    Very difficult situation regarding grandmother's will 9th May 17 at 8:51 AM
    Hi all,

    I!!!8217;d appreciate any advice anybody may have on this. It will be quite longer winded, so thanks in advance if you!!!8217;re prepared to read and reply.

    My grandmother died 20 years ago and left money to her daughter (my mother), and her four grandchildren (me, my two brothers and the son of her second husband!!!8217;s son whom she didn!!!8217;t know).
    When she died !!!8211; and I don!!!8217;t know how it happened !!!8211; the solicitor in charge of her will told us we had all been left X amount. Let!!!8217;s say 30k each for the sake of argument. This money would only be accessible for those under 25 (everybody apart from my mother) if there was a valid reason, for example a school trip, a first car, study fees, etc.

    It couldn!!!8217;t just be given out willy-nilly, so to speak, aside from my mother!!!8217;s share which she was given right away and used for home improvements and a nice family holiday.

    The fourth grandchild that my grandmother didn!!!8217;t know was left twice as much as her own daughter, as, prior to the death of my grandmother!!!8217;s second husband, he!!!8217;d had a huge argument with his son and cut him out of the will and left that share to his grandson, essentially giving him two shares and everybody else one.

    This went on for a decade, before the solicitor retired and passed it on to a different company, who then told us the conditions were actually completely different, and that the money was being saved in !!!8220;stocks and shares!!!8221; and was being kept in a fund, not divided up between everybody but rather available for everybody to access if they had a valid reason, which I find completely crazy.

    The parents of the fourth grandchild were given permission to take an interest-free loan of 30k from the will around 10 years ago, and have seemingly only just paid it back recently, while the final two grandchildren (the fourth one plus my younger brother) will turn 25 next year. Once this happens, I have been told by the solicitor, any funds remaining will be split four ways between us.

    I have also been told that those over 25 cannot access any further funds until the final grandchild reaches 25, so myself and my older brother essentially need to sit and wait and see whether the fourth grandchild makes a request for further funds, even though he!!!8217;s received far, far more than even my grandmother!!!8217;s only child.
    We assume he!!!8217;ll be doing all he can do drain as much from what remains (around 40k) in the fund, in the knowledge that once he passes 25 he!!!8217;ll have to do as we are doing now, which is sit and wait for my younger brother to turn 25 which happens a few months later next year.

    Does anybody have any advice here? This guy has received an awful lot of money from the will of a grandmother he didn!!!8217;t even know, while my mother who has been scrimping and saving for years could end up without a further penny from what her mother left behind.

    We need to somehow get access to these funds to stop this guy from draining even more than he already has. It appears my younger brother is the only one who can access them, given that only he is under 25. I!!!8217;d love nothing more than to be able to hand my !!!8216;share!!!8217; of what!!!8217;s left over (currently around 10k per person) to my mother, but know this fourth grandchild can request funds for another year over and over again until there is nothing left.

    Thanks for any advice and tips.
    Last edited by gll5dm; 15-05-2018 at 5:59 AM.
Page 9
    • Yorkshireman99
    • By Yorkshireman99 7th Jun 18, 4:15 PM
    • 5,396 Posts
    • 4,560 Thanks
    Yorkshireman99
    Yes you are lible to repay.Nevertheless kick up a fuss about the incompetent solicitor.
    • gll5dm
    • By gll5dm 8th Jun 18, 7:27 AM
    • 112 Posts
    • 73 Thanks
    gll5dm
    Essentially it turns out the solicitor made calculations based on both funds (the trust fund, and the grandson's separate fund) and distributed funds equally, which obviously wasn't right. He also says a mysterious request for funds was made a year ago and is asking us if we "know if any of the beneficiaries would have made a request for such an amaount". Weird. I'll reply to him in a month or two.
    • gll5dm
    • By gll5dm 18th Jun 18, 8:19 AM
    • 112 Posts
    • 73 Thanks
    gll5dm
    Now it turns out that the other grandson took a loan out from one of the trust funds (his own one - which the solicitor has since told us was completely against the terms set up of the fund) and it was paid back into the joint one, and that money has since been divvied up and shared between us all.

    So not only have we apparently been awarded too much money by several thousand pounds, the solicitor is telling us we'll need to pay back some of it, yet at the same time claims there is no paperwork to 100% confirm when or why the loan was granted at the time, and he can also not explain why he failed to spot this before sending cheques out to us a few weeks ago.
    • Malthusian
    • By Malthusian 18th Jun 18, 9:30 AM
    • 6,538 Posts
    • 10,650 Thanks
    Malthusian
    yet at the same time claims there is no paperwork to 100% confirm when or why the loan was granted at the time
    Originally posted by gll5dm
    If I remember the early part of this thread correctly, the trustees had complete discretion, and therefore had no obligation to explain themselves or have that explanation kept on file.

    and he can also not explain why he failed to spot this before sending cheques out to us a few weeks ago.
    The explanation seems fairly obvious to me. He missed it. The original mistake (to pay the grandson's loan repayment into the joint trust fund rather than his own) was presumably that of a previous solicitor / trustee?

    Whether it should have been spotted earlier or not doesn't change the fact that the beneficiaries (including you) are liable to return the overpayment. But it adds to the argument for some compensation for distress/inconvenience when they give a final response to your formal complaint.
    • gll5dm
    • By gll5dm 18th Jun 18, 12:03 PM
    • 112 Posts
    • 73 Thanks
    gll5dm
    If I remember the early part of this thread correctly, the trustees had complete discretion, and therefore had no obligation to explain themselves or have that explanation kept on file.
    Originally posted by Malthusian
    I am just quoting from the solicitor's most recent email where he stated the other grandson was not allowed to take a loan from his individual trust fund, so any loan approved by a previous solicitor was done in error.

    The explanation seems fairly obvious to me. He missed it. The original mistake (to pay the grandson's loan repayment into the joint trust fund rather than his own) was presumably that of a previous solicitor / trustee?
    Originally posted by Malthusian
    He actually made a comment before Christmas saying that money may have been taken out of the trust in error and if we (me and my brothers) suffer financially as a result he'll advise us as to how we can claim back through the old solicitor's insurance or something.

    Whether it should have been spotted earlier or not doesn't change the fact that the beneficiaries (including you) are liable to return the overpayment. But it adds to the argument for some compensation for distress/inconvenience when they give a final response to your formal complaint.
    Originally posted by Malthusian
    Yeah, still not even any indication that they received the complaint.

    Diabolical firm to deal with.
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