Is this solicitor contract legal or fair

[Whymeagain]

I Received this letter along with a long draft contract which I believe was a terrible attempt to defraud me
I have removed any details. But feel this is not fair or honest. They believe I have no assets!
It also states we cannot sue each other. Leaving me without any recourse on an unequal split.

The other party had stated before this that they could not live with themselves knowing I would receive any of their Dads money. (I am on the BC as his but not blood)

I was administeriing our simple Estate when the other party went and applied for LOA and admitted applied with the best of their knowledge and to protect themselves on Solicitors advice without advising me. They won't provide the details and won't warn against my Caveat.

I find it hard to believe the Solicitor advised this due to the issue it would cause. Along with the guesswork with gifts - I had all the paperwork, also we agreed they had jewellery which is now to be declared as they applied for LOA.

START
We write to you further to the above estate. We have been instructed by your........
in resolving the issue regarding the remaining funds held in the bank account of the deceased,..........
We understand that THE Bank has confirmed it will only release the funds to one nominated bank
account. In light of this, and to ensure a fair distribution of the remaining assets, we have drafted a
Settlement Agreement. This agreement will allow the full balance of the deceased’s account to be released
into OTHER Beneficiaries bank account. Once the funds are received, .... will then transfer the remaining
balance to you, as agreed.
We are aware that we have requested the funds be released to HIS account first; however, we have
included a clause in the Settlement Agreement that protects your interests. Should HE fail to transfer
the funds to you as agreed, you will have the ability to place a charging order on HIS property in order to
recover the amount due. The reason we have structured the agreement this way, with the funds being
released to HIM first, is that we understand you currently do not hold sufficient assets for HIM to
claim against should the situation be reversed.
In order to make this process fair and equitable, we have also taken into account the £1,000 you have
already received from the previous BANK account. In recognition of this, it has been agreed that
HE will receive the first £1,000 of the settlement sum. After this amount is allocated to HIM, the
remainder of the funds will be divided equally between you and HIM, in accordance with the terms
outlined in the Settlement Agreement.
If you are in agreement with the terms outlined in the attached Settlement Agreement, please provide us
with your bank account details so that we can insert the same into the agreement. Once we have received
your details, we will send you a final copy of the agreement for END

The contract mentions nothing about the 3K I paid out for agreed funeral costs and nothing about Estate debts.
It is a jointly owned house with no mention of the other party agreeing to a charge on their home.

We are Joint Beneficiaries and the contract does not provide enough consideration for my interest?

The other person has done nothing to act jointly to administer and states I should let the LOA go through, bit won't provide the details of the application.

[atticus]

Legal? Yes

Fair? Impossible to say on the limited information provided.

If you are not happy with what is proposed, you are at liberty to say "no".

I advise you to take advice on the overall situation, from a solicitor to whom you should disclose full information.

[Frank1]

Any reason why you both can't become administrators and open a joint administrators bank account with both administrators to sign to release estate funds?
It would be a lot less convoluted than the method suggested by the solicitor.

[Tofros]

You say you are a joint beneficiary - is that because there is a will, or that you are legally entitled under the intestacy rules? I take it that you have lodged a caveat to prevent the issue of letters of administration to your “sibling”.. did the deceased formally adopt you? This is effectively an offer to settle the dispute. The starting point in assessing if it’s fair offer is to understand what you would be entitled to under the will or intestacy. When you say the house is jointly owned do you mean the siblings house or the deceased’s house?