30 Sep 2016

A question about : Three Executors and small estate

Hello

I am one on three next of kin executors on mum's small estate. Unlike the other two executors I live about 90 minutes away but would like to be fully involved in carrying out mums wishes rather than it just happen because the other two live nearer.

I haven't seen the will yet, or at least can't remember the contents as it was made years ago. As I recall it's in the house which jointly belongs to all 3 executors. As such the estate is quite small so no probate, it's more about wishes and sorting contents etc.

I have a few queries and probably more to follow:

If there is disagreement on what to do with property and carrying out wishes, ie the type of stuff that only has sentimental value, is it as simple as executors vote and go with majority?

Is there a time limit to start actioning the will?

Can one executor check accounts etc even if this has already been done? Does this cost or does executor go to bank etc with death certificate and ID and they are made available by the bank?

Thanks

Best answers:

  • What are you having difficulties with?
    The house seems to be in your names already so is not directly relevant to the administration of this estate.
    If someone is already living in the house then the contents needed to live there are in practice part of the house.
    Was mum living in the house?
    What else is there?
    What are you having disagreements over? are you sure it is not you that needs to review your views.
    Take a week off work and get close if long distance communications is not working.
  • Sounds like this:
    Mum gifted the house some years ago to her 3 children as tenants in common. So they all own the house, but one of them lives in it (possibly with mum until her death).
    There is, in addition a small estate, including mum's personal items.
    So the 3 "children" have 2 tasks:
    1. to administer the small estate, dividing it up among themselves
    2. to decide what now happens to the house they jointly own.
    A lot of families seem to have the informal arrangement that the child living in the house rent-free cares for the parent; but now things have changed! Theoretically, if they want to continue living there, they either buy out 2/3, or pay 2/3 of the market rent to their siblings. In practice, things are often not that simple!
    Is this the scenario?
    Either way, involving lawyers will eat up the money!
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