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My wife died in 2017 aged 50 making myself and one other executors.
She left her entire estate to our children - this was supposed to result in our family home as joint property falling to me but as it turned out the house was held as tenants in common which neither of us realised at the time of making the will and our solicitor did not check (even though they had done the conveyancing) or advise us to check or place any protective clauses in the will.
I have abandoned my claim against those solicitors and in pursuing Inheritance Act 1975 as the cost and stress is too high and I have lost faith in the solicitors pursuing that for me.
So the estate comprises half my house, some cash and some investments which have been left to the kids in trust with the executors as trustees as until they reach the aged of 25. One child will reach that in a few years but the other has over a decade to go.
So far I have managed to complete IHT and am waiting for Grant of Probate to arrive next few weeks.
I have done all this myself.
Now I am trying to decide :
Do I need to engage legal/financial help with respect to administering the estate and in particular implementing/setting up this trust and finding out what sort of trust it is and what obligations there are on the trustees?
I'm finding it very hard to find information online about this.
Hope someone can help.
She left her entire estate to our children - this was supposed to result in our family home as joint property falling to me but as it turned out the house was held as tenants in common which neither of us realised at the time of making the will and our solicitor did not check (even though they had done the conveyancing) or advise us to check or place any protective clauses in the will.
I have abandoned my claim against those solicitors and in pursuing Inheritance Act 1975 as the cost and stress is too high and I have lost faith in the solicitors pursuing that for me.
So the estate comprises half my house, some cash and some investments which have been left to the kids in trust with the executors as trustees as until they reach the aged of 25. One child will reach that in a few years but the other has over a decade to go.
So far I have managed to complete IHT and am waiting for Grant of Probate to arrive next few weeks.
I have done all this myself.
Now I am trying to decide :
Do I need to engage legal/financial help with respect to administering the estate and in particular implementing/setting up this trust and finding out what sort of trust it is and what obligations there are on the trustees?
I'm finding it very hard to find information online about this.
Hope someone can help.
