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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 10662
Experience:  30 years as a practising solicitor.
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My father in law died without making a will, the solicitor

Customer Question

My father in law died without making a will, the solicitor handling the estate has advised me being the administrator of the estate, that I must set up a "Life Interest Trust" for my mother in law with her share of the proceeds. However she wants to use the funds as she sees fit.
My question is: Am I legally required to set up such a trust for my mother in law?
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
Thank you for your question.
If your father in law died before 1 October 2014 then your mother in law inherits the first £250000 of the estate absolutely and a life interest in half of the remaining estate, the other half going to the children.
If he died after 1 October 2014, she inherits the first £250000 and half the remaining estate absolutely, the other half going to the children.
If it is agreed that she should inherit absolutely, even if your father in law died before the rules changed last October, then a Deed of Variation can be entered into and intimated to the HMRC. Accordingly the rules of intestacy can be changed by agreement provided that the family do so within two years of the date of death.
I hope this helps.
Please leave a positive response so that I am credited for my time.
JGM, Solicitor
Category: Law
Satisfied Customers: 10662
Experience: 30 years as a practising solicitor.
JGM and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Customerthank you for your reply which is really helpful. Can you explain "If it is agreed that she should inherit absolutely" please. Because it was a messy estate with bits everywhere it took 4 years to resolve everything, he died in June 2011. Setting up a trust would mean that she cannot use the money to go on a cruise lets say, as the interest on the trust wouldnt be sufficient to do so whereas the capital sum beI will rate now thank you.
Expert:  JGM replied 1 year ago.
Yes, what I mean is that if the family are in agreement to let her have the funds absolutely as opposed to in a life interest trust then that can be done. The only problem here is that the death was four years ago and you may be out of time for the Deed of Variation. The solicitor dealing with the estate may be able to suggest how this could be dealt with but I would say that it should have been done before now.
Customer: replied 1 year ago.
Thank you
Expert:  JGM replied 1 year ago.
You're welcome.

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