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A will question.

(13 Posts)
StripeyKnickersSpottySocks Sat 03-Jan-09 20:46:48

My Gran has died and in her will has left 2k to a distant relative. Then the rest of her money is to be divided bewteen me and my brother and a cousin.

But the distant relative with the 2k died a year ago. So does his wife get the 2k or not?


DisastrousNuclearAccident Sat 03-Jan-09 20:49:27

I wouldn't have thought so if his wife was not named....

Otherwise you could say that person x has died, so it goes to their spouse, but they died so it goes to there daughter, but they didn't have children so it goes to her could get very silly. It is only my opinion though, and I could of course be wrong.

DisastrousNuclearAccident Sat 03-Jan-09 20:54:53

\link{ e-passed-away-what-happens-to-the-money-they-were-left-by-the-deceased-person\well this says that 1 of three things could happen depending on how it is worded. I guess it is down to the executor to solve, with the actual will in question.

DisastrousNuclearAccident Sat 03-Jan-09 20:55:14

sorry here is the link

StripeyKnickersSpottySocks Sat 03-Jan-09 21:01:29

Thanks for that.

Well it definetly doesn't mention his wife. Says something like "I leave 2k of my estate to X and the remainder to be divided equally between my grandchildren A,B and C.

My brother is executor and a bit stressed!

DisastrousNuclearAccident Sat 03-Jan-09 22:04:29

I am trying to "help/advise" someone execute a will ATM I understand the stress. Our problems are over debt though...

SingingBear Sat 03-Jan-09 22:08:35

Message withdrawn

DisastrousNuclearAccident Sat 03-Jan-09 22:19:37

Can I Hijack SingingBear seeing as we have an expert on board?

The "problem" I have is over debt. I know about teh specific order of replaying the debt before executing the will. But the liquid assets are not going to cover the debt. The only assets are small household elctricals and furniture. There is no house and no car and no significant jewellery. I understand that it will be down to the credit card company whether they want to liquidate some of the assets to repay the debt or write it off. The outstanding debt will be approx £1.2K-2K. TBH I am not sure that liquidating the assets on the second hand market will cover it.

How likely (in your experience) is it that they will want to liquidate the assets?
Who will take responsibility for deciding on the assets to be liquidated?
Who will take responsibility to sell those assets - the CC company or the executor of the will?

DisastrousNuclearAccident Sat 03-Jan-09 22:20:17

It is a "DIY will" I think - so I am not sure that this will affect the outcome.

SingingBear Sat 03-Jan-09 22:31:38

Message withdrawn

Hulababy Sat 03-Jan-09 22:33:56

DH is a solicitor specialising in this area of law. A lot depends on the exact wording of the will. However in general:

If she died before and no indication in will of where it should go in such circumstances - the gift fails, the £2k goes back into the pot and then distributed as per other wishes. i.e to the grandchildren.

If she (distant relative) died after your gran then it forms part of her (relatives) estate.

SingingBear Sat 03-Jan-09 22:34:28

Message withdrawn

DisastrousNuclearAccident Sat 03-Jan-09 22:43:24

No worry's singing bear.

I was just trying to make a head start. The bloody CC company won't talk to the executor - he has to wait until they write to him (he tried ringing them). The longer they wait the more rent that is paid on the property - the less money they will get...

My parents want to offer to buy the debt (which they can't actually afford to do IMO) as the majority of the furniture has been left to them. They just want to know what the CC want to do...meanwhile we are in limbo. Some items have already been put on ebay (because they thought they would be responsible for the debt - and therefore would have to sell the assets to raise the funds) with the proceeds going into the estate to pay of the creditors....whcih is probably totally the wrong thing to do...I can just see this getting horribly messy.

I/We are hoping that if we can restrict the debt to £1K by selling a few bits then the creditors will write it off as it will cost them more than the debt is worth to persue it.

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