Everything getting on top of me.

[Ames]

Re: Everything getting on top of me.

FYPFY.


How might it save on fees? Yep, it's EA fees he wants to save on, which would be 3k tops (unless someone puts in an offer tens of thousands above market value).

He presumably means that the estate would not need the services of an estate agent and, whilst that would be true, it could also mean that the executor could fail in his/her duty to secure the highest price for the beneficiaries. That's my worry. At least it's an argument to use against sister. She can't have it both ways, that I have to wait till Spring because it'll get the most, but sell it to dad when that'll get less.


Lawyer first, then sister; if she starts to bully you again, you can then give her the lawyer's details and tell her it's with him now. Dad needs an answer within a fortnight though, so I'm not sure I can get everything sorted with a lawyer quick enough. And if sister agrees that we need to sell on the open market then it's not a problem.

Then tell her the lawyer wants the car back, to sell at auction. That should please her.

My head's spinning with everything. My big worry is that if dad buys, I'd be looking at getting 45-50k, and it'd be pushing it to find a house for that much. Especially as I wouldn't have anything left as savings for emergencies.

OTOH, sister thought that by selling to dad we'd get 75k each, so hopefully her money grabbing true self will agree it's best to put it on the open market.

[MustGetStraigh]

Re: Everything getting on top of me.

Ames been catching up on this: firstly can I say I'm sorry for your loss.

I have to say you are in an unenviable position but you're doing great. Just stick to your guns. Dealing with probate is never easy and it does seem to bring out the worst in people - as you're finding out! But you will get through it.

[charitynjw]

Re: Everything getting on top of me.

Hi Ames,

I know it's only a small comfort, but I, & I suspect many others, are learning an awful lot about a subject that people often don't think about until they are forced into this kind of situation.
Thanks for the lesson!

[Ames]

Re: Everything getting on top of me.

If there's one lesson I want everyone to learn from my mess, it's MAKE A WILL!

[CleverClogs (RIP)]

Re: Everything getting on top of me.

If there's one lesson I want everyone to learn from my mess, it's MAKE A WILL!

Yes.

An alternative would be to strangle one's siblings in childhood.

[garlok]

Re: Everything getting on top of me.

Hi Ames,

I have been doing some digging around about your benefits and inheritance. I don't have a clear picture because its a mess and not really transparent. However it would sem that DLA, SDA and Incapacity Benefit are unaffected by any inheritance you may receive. Income based JSA and income related ESA will be but you may have £16000 in savings or capital etc. As will things like the support you may get from local authorities like housing benefits etc. and the reductions there seem to cut in about £7500.

However have a look at this site for a start:

http://www.welfarerights.net

Plus looking at some legal sites you may, as you are in receipt of benefits, be eligible for legal aid under "the Green Form Scheme" with participating solicitors.

If you wish to preserve your capital and keep your benefits then you be able to set up a trust with legal help.

Have a look here if you feel inclined:
http://www.lindermyers.co.uk/mediali...20disabled.pdf

This is a legal firm with an explanation in pdf form of how to mkae the correct provisions and protect booth your capital inheritance and your benefits income (or most of it anyway). My quick reading of it tells me that I could asume that the trustees may consider it in your best interests to invest the money in a low income or no income asset and to me that could mean a property for you to live in. Have a read and see what you think.

Sorry to load you with homework but it might be worth your while to take a quick look.

Best regards
Garlok

[garlok]

Re: Everything getting on top of me.

phew just checked the links and they do work, I have the ability to completely cock it up I'm afraid.

regards
Garlok

[Ames]

Re: Everything getting on top of me.

Just spoken to sister.

The offer for her and dad to do up the house is off the table - they'll only do it if he buys.

It now turns out that when she saw the EA's and got the valuation, what she told me was wrong, so what I've put on the probate form is 10k above the actual value.

Dad's offering us 120k for the house and gifts each of 10k. So either way I'm screwed - either for putting the probate form in wrong, or for tax evasion with him offering a low price to avoid stamp duty.

I've told her I'm handing it all over to a solicitor and she wants me to make sure they stay in good contact with her. So I have to pay a fortune for him/her to send letters to sister because she doesn't trust a solicitor to act in her best interests.

And the amount she's talking about selling it to dad for is getting close to the limit for me being able to afford to buy a property.

She's done a 180 about the house value too - up to yesterday, putting in a new kitchen/bathroom/carpets would add tens of thousands. Now, it would cost tens of thousands and add nothing.

Apparantly people asking her or dad 'ooh it's a big house, what's going to happen to it?' means the sharks are circling looking for a bargain.

Oh, and she thinks there will be a bidding war for dad's and it'll go for well above the minimum valuation.

So, phoning a solicitor tomorrow it is.


Garlok, thanks for digging out those links, I'll have a look later tonight, I'm just having a bit of chill time right now.

[Ames]

Re: Everything getting on top of me.

And having spoken to dad, sister had it all wrong.

Dad's going to give us (effectively) 150k for mum's house. Which is what I put on the probate forms, and above the valuations.

That's assuming his sells for 145k.

That'll give me enough to pay a probate solicitor (dad's 'but it's all done now' and 'I'll write the letters and stuff, you just sign them' strangely enough hasn't changed my mind about that), and buy a house for myself.

Garlok, I haven't had chance to read the links and properly reply to you, I've just got into an argument 'elsewhere' about my diabetes and now I'm going to curl up with a good book and have an early night.

Plan for tomorrow: Phone Levi & Co, see nurse about diabetes, catch up on paperwork and read Garlok's links.

[garlok]

Re: Everything getting on top of me.

Hi Ames,

Hang in there gal. No problems about not reading the links straight away. I wouldn't worry too much about the value you placed on the probate forms, the "values" can only be an estimation, the real value of anything is only what someone is prepared to pay for it. Most estate agents now seem to "build-in" some room to manoeuvre because of the state of the property market. Looking at the figures you have quoted I don't think stamp duty is going to enter into it as a real consideration in your calculations.

Look after the "D"!

regards
Garlok

[CleverClogs (RIP)]

Re: Everything getting on top of me.

Just spoken to sister.

Is this your sister?

[garlok]

Re: Everything getting on top of me.

Hi Ames,

I've just checked and you do not have to worry about stamp duty, it is the purchasers responsibility to pay it. You have not committed any fraud, it would seem that your Dad is the one who is attempting to get below the threshholds, plus accepting a 10K "gift" might just put you liable for gift tax if he does not survive the next 7 years and stamp duty has been avoided.

regards
Garlok

[Ames]

Re: Everything getting on top of me.

Hi Ames,

I've just checked and you do not have to worry about stamp duty, it is the purchasers responsibility to pay it. You have not committed any fraud, it would seem that your Dad is the one who is attempting to get below the threshholds, plus accepting a 10K "gift" might just put you liable for gift tax if he does not survive the next 7 years and stamp duty has been avoided.

regards
Garlok

Thanks. It's good to know I wouldn't be in trouble for the stamp duty thing.

I know about the gift tax, I've told them about it (although I thought it was 5 years), but of course they're not listening. Sister says that I'm being horrible talking about dad dying, dad accepts that I'm being practical but doesn't plan on dying so soon, and besides, since we'd be inheriting it anyway it doesn't count

I'm back from the nurse, it was very positive and helpful.

Came back and found a nice supportive thread on another site about my diabetes has been deleted, I assume because a particular poster has a vendetta against me and is following me round being nasty, she'd threatened to report it for 'medical advice' (which there wasn't any, until she gave some) and looks like she has done. Grrr.

So, going to phone the law society now about a solicitor, then have a nap.

[CleverClogs (RIP)]

Re: Everything getting on top of me.

So, going to phone the law society now about a solicitor, then have a nap.

So don't let anyone post anything for at least three hours...

[garlok]

Re: Everything getting on top of me.

Hi Ames,

That does happen a lot on other sites but Niddy just does not allow it to happen here. All the mods are briefed to prevent any abuse whatsoever.

On the inheritance thing it certainly does matter. The only exceptions that I know of to all these complex rules is in the event of what is known as "mutually beneficial wills" made leaving the whole estate to a surviving spouse. There are no tax liabilities in this event. Children of a marriage are treated just the same as any other beneficiary sadly.

regards
Garlok