Possible complications with my will?

[Snoopy1948]

I currently have a will made out as a three way split of my assets to my wife ( this is my second wife following the death of my first wife in 2008 ), my son and my daughter. I am in my seventies hence the consideration of what will happen on my death.

My assets are essentially ( and for the sake of this question ) my leasehold flat which is in my sole name as are all bills and dues attached to it. My wife has her own flat elsewhere and will go back there if I pre-decease her.

My concern is that as my flat is a 'cladding fire safety' property ( following the Grenfell disaster ) and has been reported upon as having 'unsafe fire breaks and highly inflammable polystyrene' within the walls and therefore will not qualify for an ESW1 certificate. Therefore it cannot be sold as until remediation is complete, it does not have a perceived market value and is of course mainly unmortgageable. We are currently progressing with both a Building Safety Fund claim and a Building Warranty claim ( it was built in 2010 ) and investigations are proceeding.

My will has been drawn up with a solicitor and they remain the executors as well. My question is that in the event of my death ( when my wife will return to her own flat ) there will be a continuum of ongoing charges including all service charges, utility bills, council tax liabilities as the flat will essentially remain empty. MY understanding is that all these bills will go to the solicitor as 'executor of the estate' and accrue until the remedial work is completed ( assuming I have not outlived that! ) and will eventually be paid from the sale proceeds. Is that correct? I am obviously worried that my wife or my son and daughter could be held personally liable for any of these charges and not have the funds to meet them. I have previously been told that any of the parties can 'refuse the bequest' but I don't want them to do that as my wishes are that they all receive an equal share of my estate.

Thanks for any advice in advance!

[atticus]

Rewrite your will and leave your flat to Putin.

[atticus]

Seriously, if your flat is likely to have negative value unless litigation is successful, why saddle your heirs with it? Take good legal advice.

[dslippy]

The solicitors should assess whether the estate is insolvent after your death.

If managed properly, no liability will attach to aonyone personally outside the estate assets.

[Sam101]

I agree that good legal advice is needed, but if the property is 'effectively' without value in it's present position, what do you expect it to be valued at once clear of its present problems and without adding additional value to it yourself?

In any event, the property should be considered as an individual part of your estate and gifted to a Trust on your death. The beneficiaries of that Trust could be the three you have presently selected considering, or just your two children and they could also be the Trustees.

Should the property prove to become a burden and little or no value, the Trust could be wound up, but as the Trust holds no other assets, it cannot be called upon to fund anything and as such your children would not be liable.

Perhaps one area you may not have considered is that of you needing to go into a care home before you eventually die. If your estate has assets then the costs would need to be met from your estate but it is difficult to offer guidance without being aware of figures.

Leaving your solicitors as the only executors will leave your children with tied hands, as they would have no say in how matters are managed and only the solicitors would manage the estate and they would not be obliged to give your children all the information that may wish.. If you have not considered this, then perhaps you should.