Missing Asset?

[Badbros]

I’m the sole Executor of my Dad’s will, whilst my sibling lives in the house (rent free) owned by the estate. There are lots of questions, but this question applies specifically to an asset sold approximately 21/2 years prior to Dad’s death. Upon getting Dad’s bank details I was surprised that there was no savings account, just current with practically nothing in, so asked my sibling what happened to the money from the asset, “no idea” was the reply. Dad’s solicitor confirmed when the asset sale had completed and confirmed what account the resulting funds had been transferred to. I thought I had found a ‘missing’ account, however, it turns out that this account was in fact my siblings account, when asked about it, they claimed to have transferred it back to Dad’s account, but rather than explain what had happened and why, they decided to launch into a very personal attack on me and my children, which has spilled on to social media.. What right, or duty, if any, do I have to investigate this. They have also misled me about gifts that may have been given in that period too, although these won’t cause the Estate value to breach the threshold.

[des8]

Hi and Welcome

Sorry to hear of your loss, and subsequent concerns

As executor your duties and responsibilities are to the estate at the time of your Father's passing.
However one of the jobs of the executor is to account to the Inland Revenue for money disposed of in the last seven years so you should certainly ascertain what is missing.

Perhaps your father gave it to him, altho' that sounds unlikely.
The ultimate course of action is court proceedings to obtain an accounting for the missing money, but extremely expensive and stressful.
Much better to try and attempt reconciliation, altho' again that might be difficult

Tagging Peridot , who knows more but probably not on forum 'till Monday

[Peridot]

Hi Badbros,

Sorry to hear of the issues you are facing following your Dad's death. It must be really hard for you.

As Des8 has commented your duties as executor are to value the estate as at the date of death, although the 7 year rule all so applies when completing the necessary forms for the Grant and including any 'gifts' given during the 7 years prior to his death.

As executor you also have the right to bring any claim that your father could have brought in his own right, if he were still here. It may be helpful to know a little more detail here. Was your sibling your Dad's carer or was he in a home? How was he funding his care if that was the case? Could the payment of the sum to your siblings account have been a way of avoiding care fees? Your sibling states the money was paid back to your Dad, in which case have you requested the bank statements to demonstrate this?

Was your sibling your Dad's attorney, under an LPA for example? What dealings did they have over your Dad's finances? Do you suspect foul play or undue influence at all? I suspect you have concerns from your post but I wonder whether there is anything else that has made you think something untoward has been going on?

It is a really difficult situation and any course of action will need to carefully considered. Factors such as the sum involved and the potential costs of pursuing the matter need to be thought about. At the end of the day whatever costs are incurred and the fall out between siblings may far outweigh the benefit of taking the matter further. In addition whatever costs are funded by the estate in pursuing this will reduce the residue available to be distributed at the end of the administration.

It may be sensible to obtain some face to face legal advice from a probate specialist, maybe as a free or reduced fee initial appointment just to discuss what options are available to you before considering which course of action to take.

It is always better if you can discuss things with your sibling and try and reach an agreement. Maybe the threat of obtaining the bank statements will focus their mind a little?

[Badbros]

Thanks for the answers, yes, it’s very difficult. My sibling was not an attorney for Dad, Dad was living in his own home, my Sibling & family moved in to better look after him. I think undue influence may have played a part, but have no hard evidence. In respect of Dad giving it, I have no problem with that, but sibling stated when asked, that there were no large gifts that he knew of, nor did he know what happened to the proceeds of the property sale (Sep 2014). I have a face to face with a local probate solicitor planned and will carefully consider the next step. I’m not really bothered about the money, it’s the clear examples of deceit and possibility of other issues, Dad was often ‘having a nap’ when I rang and odd times when visiting, he’d popped out with sibling to shops/DIY etc...