The Trustees in my wifes will were HSBC and myself . I had a letter from HSBC saying that they would not be acting as Executors or a trustee so i carried on myself as every thing was left to me.
On the 22 July 2015 i had a letter from HSBC to tell me that they were transferring their probate and Executor services to Simplify Trust Corporation and that i could choose one of these
Option 1 Appoint Simplify as Executor.
" 2 Appoint another Executor either a professional or a personal one.
Option 3 Confirm your will is no longer valid if you have a replacement will in place.
It was while i was makeing up my mind what to do that i found out that we (my wife and i) were tenants in common so i read the letter from the HM land Registry which said notification to a joint owner following severanceof a joint tenancy the letter was addressed to my wife with it was a completion of registration your application has been completed.Also with it were explanatory notes and the one that i noticed said that if one of the proprietors dies (there were only two proprietors my wife and myself) so that only one of them remains,the restriction will mean that the land Registry will not be able to register any transfers or other dealing with the property for money.In practice this means that the remaining proprietor would not be able on his or her own to sell,mortgage or otherwise deal with the property for money, because the restriction would stop registration.The remaing proprietor would need to arrange for at least one other person to become a joint proprietorof the property and to act with hi or her as a trustee.The for example a purchaser could safely complete a purchase because a transfer would be by two or more proprietors,so the restriction would not prevent registration.
I talked to the HM Land Registry and they agreed with those notes and that i should talk to a solicitor.
So i contacted the solicitors office that made the will at HSBC And they advised that i should instruct them to advise the trustees in respect or establishig the nil rate band discretionary trust that was in my late wifes will.Which will cost £2000 +
That brings it up to date. I did tell the solicitors that i would like a normal will as the money i have now is below the inheritance tax allowance which they replied if it had been within two two years since my wifes death then ok.I am still finding it a problem to understand what within the two years is all about.
I hope that you understand this.