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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33949
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Hi there. I need to understand about a property(our home) that

Resolved Question:

Hi there. I need to understand about a property(our home) that my father in law left to my husband (his only son). He apparently left it in trust. Now my husband has papers to sign, to add himself on a trustee, along with my father in law's old solicitor. I am concerned that, if anything happened to my husband first, that I could be homeless. Very worried. x
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
What are the terms of the Trust?
Clare
Customer: replied 2 years ago.

That I don't know sadly. All I know is that the farm was left to Nic, in Trust. Nic's dad (Malcolm) hated me and my 2 boys from a former marriage, and so was always going to play some kind of game.

When he died, Nic said it is in trust - but that's ok as he is a trustee…inferring that he could 'undo' any mischief.

Now, from my minor knowledge of trusts, if Malcolm set Nic (only child) as a beneficiary, then he could also have put others as Beneficiaries too..and it wouldn't have been me.

And Trustees have to adhere to the Letter of Wishes.

So, if Nic's dad set it up, his wishes are the ones to be followed. So, if Nic dies, any assets can be given elsewhere according to Malc's wishes.

Nic has done a will, leaving me everything (we own a lot of other property that Nic and I bought together and is in his name) but does he have that amount of control over leaving the farm to me…or does it revert to the original settlor's wishes?

Nic has just got a letter from his solicitor that I have seen, saying that it is a deed of appointment, to make him a Trustee.

In it, is says "In the events which have happened to the estate of the Testator has not yet been fully administered and in particular the Trust Fund (as defined by the Will and which is hereinafter referred to as "the Trust Fund" has not yet been finally quantified and established but the Trustees are nevertheless desirous of exercising the power for that purpose conferred upon them buy Clause 5 of the Will in manner hereinafter appearing…"

I'm just worried that even if Nic wants me to have it, Malc can rule from the grave.

If Nic was just meant to get the farm, well, he has it, so what is the use of keeping this trust going….unless it is to pass it on to someone else if Nic dies before me.

Just seems we should bin it…if we can.

Sorry to be so lengthy!

x

Expert:  Clare replied 2 years ago.
Hi
Have you asked to see a copy of the Will?
Clare
Customer: replied 2 years ago.

Sorry for delay, had to be in hospital all day yesterday and a family death today.

I do have a copy of the will, I applied for it 2 days ago, and it has just arrived.

Expert:  Clare replied 2 years ago.
Hi
What does it say about the trust?
Clare
Customer: replied 2 years ago.

Oh gosh, I have tried to understand it and I don't really, it is so complex.

My husband says "it's nothing, I have spoken to the solicitor, and the farm is mine to do as I wish with, and when I die, I can leave it to you with no problem"

But I was married to another Trustafarian, and they are never that simple!

I have tried attaching it but it won't go, I think it's too big.

However, my husband has now said that I can go with him to the solicitors, to ask him face to face if I am safe. Not sure that I fully trust the man as he was Malcolm's friend for years.

So, as it is the Trust Fund part that bothers me, I am going to have specific questions to ask him, like:

1. what sort of trust is it?

2. can it be dissolved once the beneficiary has inherited?

3. What was the letter of wishes?

Are there any questions you think I should ask?

Expert:  Clare replied 2 years ago.
Hi
Can you just reproduce the part that refers to the property?
Spelling doesn't matter!
Clare
Customer: replied 2 years ago.

it all seems to relate to it!

Happy for you to go to the gov website and see it…am happy to give you my details

*****@******.***

password (I have just changed it, for you) is solicitor12

Expert:  Clare replied 2 years ago.
Hi
Unfortunately the email address is automatically edited - can you resend it with a gap before and after the @
Clare
Customer: replied 2 years ago.

nadine @ russellsfurniture.co.uk

Expert:  Clare replied 2 years ago.
Hi
Ty
- and which website is that on
Clare
Customer: replied 2 years ago.

probatesearch.service.gov.uk

Expert:  Clare replied 2 years ago.
Hi
Thank you - yes I have it (and thank you for introducing me to that very useful new service)
Do you have any children together?
Clare
Customer: replied 2 years ago.

no, I just have my 2 boys from my first marriage who Nic has loved and payed for but never adopted

Expert:  Clare replied 2 years ago.
Hi
Was any letter of wishes left with the Will?
Clare
Customer: replied 2 years ago.

It has never been mentioned

Expert:  Clare replied 2 years ago.
Hi
You are correct to be concerned as it is clear that the Trust was indeed created to ensure that only your husbands biological children or grand children inherit the Farm - to the point that it appears he would rather it went to charity!
Having said that there is scope within the Trust for this to be changed.
At the meeting I suggest that you ask the Solicitor to explain exactly how the Terms of the Trust will be altered to allow you to benefit from the property in the event of your husbands death
Please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33949
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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