How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

If there has been a verbal triparty family agreement

Resolved Question:

Hello
If there has been a verbal triparty family agreement which has been in existence in excess of 20 years can one party insist it is not legal wanting to move the goal posts. I would have thought a precedence had been set. Any opinion? Thank you, Robert
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name Alex and I will help you with this.
-Could you explain your situation a little more?
Customer: replied 2 years ago.

Some 20 years ago it was verbally agreed that 3 siblings could use a trust set up by a grandparent to pay for the education. This was used by two of them. The third a 50 yearly brother recently got married and wants his share which he is entitled too. The two siblings that used the funds have agreed to settle on a pro rata basis. Unfortunately the brother will not accept this asking for the full amount used from 1994 plus 7% interest.

Question:

Bearing in mind that two siblings have utilised the agreement does a "Verbal Triparty Agreement set a precedence?"

Please advise.

Robert

Expert:  Ash replied 2 years ago.
Robert yes it does.
A verbal agreement is a contract and if breached you can sue on it. Clearly if there are witnesses it does help, but yes you can sue on it.
Does that help?
Alex
Ash and 4 other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex