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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34278
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My name T.P.House. My wife and I have made 2 Discretionary

Resolved Question:

My name T.P.House. My wife and I have made 2 Discretionary trust wills when I '' . die, I am unclear as to what action my sons need to take. Our house is left to them and any cash we have (about £36000 between us, the house is worth about £180000).I assume probate will be needed, but who if anyone needs to be told that half the house is in trust, and do my sons have to do anything, or inform anyone because of the 'Trust'?
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.

Thank you question.
My name is ***** ***** I will do my best to help you
Your Executors will indeed have to obtain Probate and will deal with the transfer of your share of the property into their names.
This is not greatly complex and there will be no need one to be notified unless and until your widow moves into care when Social Services will have to be told that half of the property does not belong to her!
I hope that this is of assistance - please ask if you need further details
Clare
Clare and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Thanks answer Clare. What do my sons (Executors) have to do to transfer my share of the house into their names, sorry to be so ignorant?

Thomas House

Expert:  Clare replied 2 years ago.

Once they have Probate they will need to deal with the necessary Land Registry documentation
details here
https://www.gov.uk/government/publications/whole-of-registered-title-assent-as1/completing-forms-ap1-and-as1-for-the-assent-of-a-registered-property
Clare
Customer: replied 2 years ago.

Claire

Is it right that inland revenue need to be told about the trust? If so who has to be contacted, and how?

Expert:  Clare replied 2 years ago.

May I just check when these Wills were made and what you were trying to achieve since Inheritance Tax does not appear to be an issue?
Clare
Customer: replied 2 years ago.

Claire

Both of our wills are dated 22 march 2013.

We are not in the Inheritance Tax bracket, but wanted to ensure that at least half the value of our assets was secure boys, if one of us died, and the one left had to go into care at some point.. I am 88 and my wife is 84.

Expert:  Clare replied 2 years ago.

What is the wording of the gift to the children?
Clare
Customer: replied 2 years ago.

Clare,

After funeral expenses My executors shall hold the remainder ('my Residuary Estate') on trust Spouse absolutely but if my Spouse fails to survive me by thirty days my executors shall hold my Residuary Estate and the income thereof UPON TRUST to divide the same into eight equal parts paying and applying - - - - - - -

the next covers the way things are to go if say one of our boys dies Everything remains in the family, the part of the estate in trust will be divided as the will states.

Hope this is what you want Thanks *****

Expert:  Clare replied 2 years ago.

At the time the Wills were made did you "sever the Joint tenancy" on the property so that you each own your own share?
Clare
Customer: replied 2 years ago.

Clare

YES

Peter H

Expert:  Clare replied 2 years ago.

What is the wording of the Will relating to the house/
Clare
Customer: replied 2 years ago.

The house is not mentioned specifically but as - - - -

Personal Chattels .

I give my personal chattels (as defined in section55 of the Administration of Estates Act 1925) to my Spouse absolutely.

Peter H.

Expert:  Clare replied 2 years ago.

Actually that does not include the house.
What does the next part say?
Clare
Customer: replied 2 years ago.

clare,

That's disturbing.

Apart fromseveral 'difinitions, the next reads

'I give the Nil Rate Sum to the trustees. Subject to the Overriding powers below - - then a list of overriding Powers - - -one of which says

The Trustees may appoint that they shall hold any Trust Property benefit of any Beneficiaries, on such terms as THE Trustees think fit.

Does this help? Peter H.

.

Expert:  Clare replied 2 years ago.

Frankly this is a Will that is a great deal more complex than you need.
All you need is a simple Will which gives you share of the Property to your children with your spouse having the right to live there so long as she wishes and everything else to your spouse.
The Will that you have could in fact cause more expense that is necessary given that Inheritance Tax i snot a problem.
In fact if you were induced to pay on the basis that you needed them then you should make a formal complaint to the firm involved
Clare
Clare and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Clare.

Thanks help. My wife and I are committed Christians, how about you? God loves you and His son Jesus died - took your place, exchanged your sin righteousness, its all very 'legal'. Read John 3 v16 and put your own name there.

Thanks again help

Sincerely *****

Expert:  Clare replied 2 years ago.
Peter
You are most welcome - and I am indeed supported by my faith at all times
Clare
Customer: replied 2 years ago.

Hi Clare,


I've contacted a local solicitor who agrees with you completely so I'm getting a new will from him and writing to the previous firm to complain. God bless you, keep trusting, Jesus is coming soon.


Yours Peter Houyse.