Everything getting on top of me.

[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.

[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

[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

[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.

[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!

[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!

[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.

[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.

[CleverClogs (RIP)]

Re: Everything getting on top of me.

Dad's had his valuation. It's He's worth the bottom end of mum - so the same as mum is now.

FYPFY.

Dad however thinks that it's worth selling to him, at the lowest price (which is less than I put in the probate forms as I took an average) as it'd save us fees.

How might it save on fees?

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.

I need to speak to sister, then asap get a solicitor onto it, otherwise I'm going to get bullied and pushed into something that's not in my interests.

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.

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

[Ames]

Re: Everything getting on top of me.

Thanks Garlok, I've been pretty brief about the benefits stuff on here so ask away.

I'm still waiting for sister to get back to me as we need to talk about the valuation.

It might help if I put the numbers. Mums - one EA said 140-160k, another said 160-180k. Dad has been told 140-145k. Probate forms, I put 150k.

I honestly don't see how we can be better off selling to dad than putting on the market. Especially since sister and I will be getting 12k which we can use for a new basic kitchen etc. Since the kitchen doors are rotting, and the taps in the kitchen and bathroom don't work, I accept that that work probably will pay for itself.

[garlok]

Re: Everything getting on top of me.

Good stuff Ames. You are the one in control of this, no one else. As long as you get the house on the market in a sensible amount of time then I see no problem with your benefits situation. Really I don't. In theory you own nothing until that estate is settled.

For example, if you had decided not to sell the house and have equal shares with your sister, how would you have set that up? Tenancy in Common Trust? I am trying not to get too technical with this but I believe that it is legitimate for everything to be put on hold until such times as the estate in its entirety is liquidated, all responsibilities and liabilities met and the residue divided between beneficiaries. The mortgage company may not be too happy but this is an example where a solicitor carries so much more clout.

As regards your capital, there are certain levels of savings and capital that you are allowed to hold , so I would suggest that you would only have to reduce your holdings down to that level. There some serious questions about what you have been told that are swirling around my head. I won't raise them now, I need to have a think and look up some stuff. Again if anything comes out I will get back on them.

best regards
Garlok

[Ames]

Re: Everything getting on top of me.

Another point - why should you lose any benefit between being granted letters of administration and the sale of the house? As executor (pedantically, executrix) of the estate, you would have control of various monies, but they do not become your money until the house is sold and the estate is settled.

Once the administration is done and the estate divided, I own half a house. That means I have capital and so don't meet the thresholds of means testing.

I guess it depends when the estate is seen as settled, would it be when the debts are paid etc, or when the house is sold? I assumed it would be when we inherit a house between us (that's the advice I got on the 'other' forum I use). If it's when the house is sold and monies distributed then that changes things.

Thanks Clever Clogs, I was beginning to question the logic of this. Nothing belongs to the beneficiaries at all until the estate is settled therefore there is no change in your circumstances Ames until such times as the estate is actually all settled.

You mentioned the welfare rights officer, have you spoken yet, Niddy I believe gave you a contact? On the LPA issues your father is totally wrong I'm afraid. The old "Enduring Power of Attorney" has long disappeared due in the main to families abusing its powers. The new Lasting Power of Attorney is now in fact two. One is for financial affairs and the other is for health and welfare. The forms are extremely lengthy and complex. If they are not filled out to the court's satisfaction then it will NOT be granted. My brother has just had to deal with the latest stuff for his current partner's family and he admitted to struggling to get it right and even he had it all vetted by a currently practising professional befoire submitting it to the court.

regards
Garlok

I'm not going through the council welfare rights, I'm using a national charity, DIAL. They're fantastic and have fought tooth and nail for my interests in the past. I have spoken to him, but about the issue of whether or not I can buy a house. I didn't think of the LPA stuff till after I'd spoken to him.

rem acu tetigisti

But how long may an executor reasonably delay settling an estate?

Would it make any difference if the executor invested any monies in governmemt stock?

This is something that worries me too, if I take forever to sort it out then the benefits people could accuse me of fraud and trying to hang on to benefits.


Dad's had his valuations. It's worth the bottom end of mum's - so the same as mum's is now. To me, that means it's not worth selling to him as we could probably get more for mum's, especially if they do do the work that needs doing.

Dad however thinks that it's worth selling to him, at the lowest price (which is less than I put in the probate forms as I took an average) as it'd save us fees. He did think though that mum's mortgage was less than it is - he thought 20k and it's 27k.

I need to speak to sister, then asap get a solicitor onto it, otherwise I'm going to get bullied and pushed into something that's not in my interests.

[garlok]

Re: Everything getting on top of me.

Well again I suppose it comes down to current practice. I seem to remember years ago that a solicitor for example conducting conveyancing was required to place all monies belonging to clients into a specific deposit account for each client and at least obtain a return for the time he/she held that money. Did that not follow some scandal 70's/80's of practices using client money to invest and themselves getting the return?

If you look carefully at what Ames has been told by Irwin Mitchell, it is encumbent on her to maximise the estate's value before disposal or words to that effect. I am prepared to assume that means she can invest liquid assets in a safe haven for a return to the estate. Length of time can be very short (weeks) or it can drag on, one I had to deal with in the end was over a year (with an engrossed will in place and solicitor co executor) due to a cock up by the Inland Revenue and a missing cheque owed by them to the estate. Several factors can come into play. This one could be be very easy IMVHO as long as there is no dispute.

regards
Garlok

[Never-In-Doubt]

Re: Everything getting on top of me.

rem acu tetigisti

But how long may an executor reasonably delay settling an estate?

Would it make any difference if the executor invested any monies in governmemt stock?

it's more than touching a point though; it's actually cause for a whole new debate!

I think lots of the system needs looking into. I'm learning (plus with the help from You guys) but it shouldn't be soo cloak n dagger and hard to understand; it should be a cheap painless process to sort out! Notice should, being the operative word used!

[CleverClogs (RIP)]

Re: Everything getting on top of me.

Thanks Clever Clogs, I was beginning to question the logic of this. Nothing belongs to the beneficiaries at all until the estate is settled therefore there is no change in your circumstances Ames until such times as the estate is actually all settled.

rem acu tetigisti

But how long may an executor reasonably delay settling an estate?

Would it make any difference if the executor invested any monies in governmemt stock?