Probate - Executor of Will

[Newman Noggs]

I have been an executor for my mum and dad. One estate was above the inheritance tax threshold and one below. I found the actual admin involved in both cases relatively straightforward.

The nightmare was the relatives. Money really brings out the worst in people.

 

[denislawsbackheel]

One of the executors & trustees (alongside myself) was the main solicitor (who's firm it is and was a life long friend of my mothers).
I wasn't around when this was drawn up back in 2018 (as in I lived a long way from my childhood home, and was also in the midst of an awful few years personally).

It's probably a mix of stress and emotions colliding with other things going on atm (and my cousin casting doubt upon this - and not without reason btw).

It's not like I've been booted out the will, I'm just very curious as to what was left in this new draft and the timing of a of the will being drawn up ni 2018 when my mother first began showing signs of dementia.

Might just be the right thing to do and pay off as it stands with that 25% mention actually meaning 50% each (of what was left of their half of the will) and move on. My sleeps awful enough as it is.

Just distribute the estate as written in the will then walk away.
Your health isn’t worth the hassle.

 

[Mr Kobayashi]

We think it’s time to make a will age and health issues keep on creeping up, but struggling to understand the difference between Joint house deeds and Tennants in common when we are married with children.
I’m hoping some blues have come across the issue I’ve heard we can put it in trust for the children

Joint tenancy means that your house does not form part of your estate. It goes direct to the other party or parties that you are share it with e.g. your spouse. It doesn't pass through the terms of you will.

Tenants in common mean you have alotted shares and the above rule "right of survivorship" does not apply, you give it your nominated beneficiaries in your will as you wish and without consent of the the other tenant in common.(beneficiaries can not be witnesses to the will).

You would have presumably made a declaration of trust if you did have this.

So presume you have a joint tenancy.

Not sure there is a point of a trust. If you look up nil rate bands it's unlikely that you fall above the threshold for IHT and if it is to avoid care home fees then I doubt it would work in this case.

If you've already been paying for private healthcare for pre-existing conditions the council will find evidence of that on bank statements.

Best advice is to go see a solicitor.

 

[Kirkstall Blue]

Joint tenancy means that your house does not form part of your estate. It goes direct to the other party or parties that you are share it with e.g. your spouse. It doesn't pass through the terms of you will.
Thanks very clear
Tenants in common mean you have alotted shares and the above rule "right of survivorship" does not apply, you give it your nominated beneficiaries in your will as you wish and without consent of the the other tenant in common.(beneficiaries can not be witnesses to the will).
That is what happened after I was in rehabilitation Brain injury 2016

You would have presumably made a declaration of trust if you did have this.
Yes he left this half to the children meaning I would have no security of tenants
So presume you have a joint tenancy.

No tenants in common

Not sure there is a point of a trust. If you look up nil rate bands it's unlikely that you fall above the threshold for IHT and if it is to avoid care home fees then I doubt it would work in this case.

No it’s me wanting to make sure my half on the home is protected

If you've already been paying for private healthcare for pre-existing conditions the council will find evidence of that on bank statements.

Best advice is to go see a solicitor.


We just cancelled the solicitor appointment because she wanted us to stay tenants in common and make two new wills.

Thanks for replying We had an appointment but didn’t understand why she wanted to leave the house as tenants in common.
It was originally in joint tenants when we got married then I was in rehabilitation after a brain haemorrhage 2016
On advice it was changed to tennants in common to protect one half.
I made remarkable progress but the solicitor advised against returning it back to joint deeds and wills so I’m trying to understand before committing to what she suggested because my share means my children could throw me out instead of automatically inhering a house I’ve paid for
Not that they would because they are adorable children but stranger things have happened.

 

[Mr Kobayashi]

No tenants in common

No it’s me wanting to make sure my half on the home is protected


Thanks for replying We had an appointment but didn’t understand why she wanted to leave the house as tenants in common.
It was originally in joint tenants when we got married then I was in rehabilitation after a brain haemorrhage 2016
On advice it was changed to tennants in common to protect one half.
I made remarkable progress but the solicitor advised against returning it back to joint deeds and wills so I’m trying to understand before committing to what she suggested because my share means my children could throw me out instead of automatically inhering a house I’ve paid for
Not that they would because they are adorable children but stranger things have happened.

It would be cheaper to change the wills, I'd imagine.

Your husband can change the terms of his to give you a life interest in the property. You would be entitled to live there for the rest of your life. You could then do the same for your share of the house.

 

[Kirkstall Blue]

That’s what the solicitor said it would cost a lot more to reverse the previous decision, that’s what is causing our hesitation we will think about it again thank you so much for helping we both find it clearer now.