To ask this question about my parents will?

[Secrets2tell]

My DB lives with them. He is in his 40's. My elderly parents have told me that they have written a will and the house will be shared equally between us both. But as he lives with them they have added a condition that he remain in the house for a period of 3 years before it can be sold.

Fine their house their will! I have one question that I did not want to ask them as I understand it to be their wishes. DB get on ok in theory but He has taken advantage of my parents and they are enablers of this which makes him a very selfish, lazy and entitled person in general who has never been shown how to pay his own way in life.

So my question is if he takes temporary possession of the house what happens to the contents? I am not talking big things I am talking if I wanted say a keepsake or something...would he be able to stop me from doing this? Also who would be responsible for maitenance. If he lets a leak get bad or something would I then need to pay for extensive repairs? I am just wondering what type of headache my parents might be causing in imposing these extended terms for 3 years after.

[DJBaggySmalls]

If your parents made a DIY will, they should see a solicitor to sort this out because the whole thing sounds like its going to be trouble.

[Secrets2tell]

Not diy. It has cost them £7000 to set up. They only told me after but although I don't want to say anything it sounds very much like a disaster waiting to happen.

I do not want to be responsible or financially linked to my DB for 3 years. I can understand why they have done it even though I am not comfortable with it.

[Secrets2tell]

Solicitor is named as executor. I don't know if that makes a difference.

[Ginmakesitallok]

Ask them?

[Butterymuffin]

Seven thousand pounds??

It sounds like this needs to be worked out in a lot more detail. Possibly with a different solicitor.

[SallyGinnamon]

£7000!!!

[Ilovecaindingle]

For 7 grand I would expect the solicitor to be cleaning /maintaining and managing the house for me also!!

[Notanotherpawpatrol]

It's a disaster waiting to happen. We have a similar situation, where sil lives in pil house and house will be split when oil die.
We were talking about selling our house and mil started talking about their house and wondered what it would be worth then made a comment something along the lines of 'oh, that's not for us to worry about though, that's for you two to deal with' (pointing to dh and sil) to which sil responded with "we're not selling it, it's where I live".
Dh was not impressed and is trying to figure out how to bring this up subitly with fil, who is big on legal stuff, he just hasn't thought about this.
(Also to point out, sil is 46 has a full time well paying job. There's no reason she couldn't move out, other than she just doesn't want to pay bills.)

[PigletWasPoohsFriend]

£7k for a will! Surely that's not right.

[Notanotherpawpatrol]

£7000?! That's got to be a typo!

[NeedMoreSleepOrSugar]

£7k??? I know it's not what you're asking about, but that's astronomically high - is there something else - and highly complex - about their will? Or is the solicitor acting as a trustee for someone as part of it?

[CarelessWispas]

Also think 7K is way over the top. Unless your parents are including a fixed-fee for the execution service also? Conditions regarding maintenance should be clarified, else I would imagine that whoever owns the house (your DB and you) would be equally responsible.

[Secrets2tell]

7k is No typo. I questioned it as was shocked. The price for that condition alone was 3k and then they paid for making solicitor executor and then naming a power of attorney!

I got told to mind my own business Showed concern over it so left it at that!

[loinnir]

If the solicitor is acting as executor they will also charge and arm and a leg for that!

[JFT96]

I think this needs legal clarification from a professional.

But would have thought from what you said that the residuary estate belongs to both of you as you said it's been split equally so he probably would have to share the belongings. It's not entirely clear from your post but looks like the house would belong to both of you from the beginning just he would have the right to live in it, not actually own it to himself

[Butterymuffin]

Are you not going to have power of attorney? Who's been named for that? This sounds more and more odd.

[Goingtobeawesome]

£7k for a will is a ridiculous fee. Bloody hell.

[Carollocking]

You'll be lucky if much money left in house by end of 3 years if there executor

[Secrets2tell]

Power of attorney is solicitor and health decisions only to me which seems silly as DB lives with them.

JFT you are correct that we will both own house outright. The will simply states that everything will be split equally but DB has right to remain for 3 years.

[FanSpamTastic]

Will DB be paying rent to you for your half of the house that he will be occupying! What happens if he decides to take in a load of lodgers - will you get half of the rent?

At the very least you will have to pay half the cost of insuring the property plus half of any repairs.

If the house is the only asset then how is the executor going to get paid? You could find yourself with having to pick up half of the executors costs too. This all sounds like an I'll- thought through plan. Though I appreciate your parents wanted to make sure that your brother had time to sort himself out. What happens if he decides he doesn't want to move? Have they made provisions for him to buy you out?

[ButteredToastAndStrawberryJam]

Who will have the POA? I agree the Will cost is unbelievable. Shame your parents have said mind your own business, must be hurtful.

[Megatherium]

If they have said everything but the house is to be split equally then that is what must happen. However, it sounds to me as if they really haven't thought it through - if you have the power to insist that the contents of the house be sold that will leave your DB without a bed, let alone a cooker or washing machine, which can't be what they intend.

[HyacinthsBucket]

I'd have a chat to your parents about the solicitor being executor - over 3 years, they will have to administrate every bill being paid ie gas, electric, phone, council tax, repairs etc and you could well end up with a bill that is greater than the value of the property, meaning you and your brother could well end up with nothing and having to pay money yourselves.
Regarding the power of attorney, we've done that ourselves - you don't need a solicitor to do it and it's around £180. There are 2 types - financial power and the other one is health/care. If they have made the solicitor POA, then that would mean the solicitor gets the life support question if it ever occurred, which would be odd to say the least.
You really need to ask them about this, it's you it will impact on.

[Squills]

We've just made our Wills and both came to less than £1k. £7k is ridiculous- a mistake surely?

[Squills]

That's 2 wills for less than £1k