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Original poster

Conflict of interest- inheritance

138 replies

hopeishere · 21/02/2022 18:12

Is this a conflict of interest:

Property left to A, B and C. Equal shares. Former childhood home.

A is an executor.

A has lived rent / bills free in property for eight years. Had previously own home but sold it.

A is interested in buying B and C's share. Can they do this assuming they pay a fair and mutually agreed price?

OP posts:
ShavingTheBadger · 22/02/2022 10:41

I bought my brother’s share of my dad’s house off him a few years back. We got a solicitor to deal with it. I paid him rent on his half for the time I moved in before I bought him out. We had it independently valued, and the house had to be first put in our names (from my dad’s), until I bought it. Be very careful and keep everything above board - death can bring out the worst in families.

Original poster
hopeishere · 22/02/2022 11:03

@Gasp0deTheW0nderD0g

Is inheritance tax going to be payable? If so, somebody has mentioned above that HMRC will expect the valuation of the house to be based on three independent professional valuations. So that's non-negotiable, and A can fulminate to A's heart's content, but that's what has to happen.

Also, A's solicitor friend who is co-executor has to abide by professional standards or could face disciplinary proceedings. So there's that.

Yes inheritance tax will be payable.

B and C suggested beginning some cleaning and clearing and went into the house when A was out and A went mad and accused them of being money grabbers etc. A thinks it will take three days to clear the house up. It will take much longer. B and C are now too scared to progress this.

OP posts:
RedToothBrush · 22/02/2022 11:07

B and C are now too scared to progress this.

Stop being scared. This is your problem. Let A go mad. Whatever you do A will go mad. A wants control and does not care about your relationship or being fair.

Every post you make, just says you need legal advice more.

Interested in this thread?

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General money
SockFluffInTheBath · 22/02/2022 11:39

If you want your share you need a solicitor OP. Pussyfooting around the bully that is A will get you nothing. Time to either make a move or write it off.

Gasp0deTheW0nderD0g · 22/02/2022 12:16

I'm wondering why anyone would want to have a continuing relationship with A, who sounds like hard work. Time to put a hard hat on, find a solicitor, and insist on A and A's solicitor pal getting on with the work of having the house valued, sorting out the IHT, agreeing the amount that A will pay to B and C, getting that money transferred, deeds altered, job done. If by the end of it A is no longer on speaking terms with B and C, frankly that sounds like a relief.

caringcarer · 22/02/2022 12:18

Whilst probate is taking place A should pay electricity, gas, water rates, TV licence, council tax as there would not be these charges, except utilities daily charges, if they were not living there. No reason why A could not buy B and C out if all agree on principle and price.

Feedingthebirds1 · 22/02/2022 12:19

It sounds like you're trying to make sure B&C don't get swindled but without setting A off. Based on what you've written about A the two are mutually exclusive.

Get a solicitor and let A go ballistic. They'd only get angry because it would limit their attempts to do you out of your rightful inheritance and take a much bigger slice of the cake for themselves. Just because they want to play happy families doesn't mean you have to.

That they interfered with the weddings and got angry to get their own way on other people's special day shows you how much they have to have their own way at all times. Sibling or not this isn't someone I'd want to have any contact with, so there's nothing to lose by fighting your corner.

A is trying everything they can to have everything in a way that favours them, you have to take action to protect your own interests. So what if they get angry? Stop being afraid. Do what you need to do. Why is it important to maintain a relationship with them? When it's settled cut A out of your life. Don't let them continue to dictate the terms.

PS And running costs of the rental should be split in the proportion of ownership. So if say it's 50/50 A and parents, A pays half the cost and the other half is split between A, B and C. But again, your parents' half of the property is now owned between the three of you. You could insist that it too is sold and you get your share in cash. You don't have to continue with the rental.

caringcarer · 22/02/2022 12:19

Money from rental property should be added into estate but not used to run main property.

DetailMouse · 22/02/2022 12:20

Is A a parent - the estranged spouse of the deceased? I can't see why people would be so scared of a sibling. If things aren't good between you anyway there's nothing to lose. Tiptoeing around it will only make things worse. Do things properly so everything's clear.

shiningstar2 · 22/02/2022 12:22

I don't think the rent free time should be taken into account. That is between A and parents. As for valuation I think to be fair to all parties it would be wise to get three written evaluations if the property and either accept the middle valuation or an average of all 3.

Original poster
hopeishere · 22/02/2022 12:25

@DetailMouse

Is A a parent - the estranged spouse of the deceased? I can't see why people would be so scared of a sibling. If things aren't good between you anyway there's nothing to lose. Tiptoeing around it will only make things worse. Do things properly so everything's clear.
A is a sibling. They are a very bitter person. As long as they get their own way they are fine and everyone bumbles along. They have a very high view of themselves.

Parent was in no state to ask / have a view on A paying rent (brain injury - no capacity).

OP posts:
OinkyO · 22/02/2022 12:32

B&C were left an equal share they should hire a solicitor to make sure that is what they get. The person who wrote the will wanted that. A can do one.

OinkyO · 22/02/2022 12:32

The relationship with A is already soured there's no point trying to repair it.

Yellownightmare · 22/02/2022 12:40

I had a sibling like A. We no longer speak, and life is consequently much better. They want things their way, but throw out accusations of money grabbing, swindling and lack of collaboration to everyone else. It's a classic mind-fuck!

RedToothBrush calls it exactly right.

You have to stand up to A. And don't be scared of them. In reality there's nothing they can do to you. Just tell them the way it's going to be. And follow your own independent legal advice.

MorrisZapp · 22/02/2022 12:44

I refer you to my dear dad when we were arguing over sharing cakes etc: you cut, I'll choose.

By all means buy out A, but the fair price is decided by A, B and C.

RedToothBrush · 22/02/2022 14:30

A thinks that they can do everything their way and they get to decide what is 'fair'.

However as executor they have a legal responsibility to act in the best interests of ALL the beneficiaries. If the beneficiaries think that they are not getting that they can question whether the legal responsibility has been carried out and what steps have been taken to ensure this.

A has a vested interest to ensure they are not exposed to a tax fraud or to being legally liable for fraud on the estate.

Therefore, you would be wise to put this in writing, with your basic requirements to ensure all the conditions have been met to your satisfaction; basically a proper valuation which is agreed by using several valuers and a proper inventory of all ideas of sentimental items / items of value that is drawn up by the three of you and then split between you as agreed not decreed (this requires A to set a date when the three of you can do this together).

None of this is particularly controversial and is pretty standard. A failure to agree would suggest they are not acting in your best interests.

But getting legal advice on how best to do this, and what other considerations there might be would be extremely wise.

Original poster
hopeishere · 22/02/2022 14:50

Thank you everyone. B and C are going to progress with some of the sorting. Noted the advice to keep everything in writing and cc in the second executor as well.

OP posts:
OinkyO · 22/02/2022 14:51

Get a solicitor.

AdaColeman · 22/02/2022 14:59

A is using the threat of his/her anger to bully and intimidate B&C, in order to get the very best outcome for themselves. This really isn't how an executor should behave.

I'd be pointing this out to A, and telling them that a detailed report of their actions as executor, such as costs charged to the estate etc, will be required, and will be carefully scrutinised. A shouldn't be offering specific items to one party, nor taking items for themselves.

@hopeishere you really do need independent legal advice for B&C from your own solicitor, especially with the added complication of the rental property jointly owned by A and the deceased parent. Income from that shouldn't be used to maintain the old family home at the moment.

I can't see how B&C will ever have a warm family relationship with A in the future. After all, A has already fleeced them of eight year's rental income from the main property, so there can't be much trust left between them all.
With that in mind, B&C should set firm goals and boundaries with the help of a solicitor, and deal with A accordingly.

Auntpodder · 22/02/2022 15:08

Having been in a similar(ish) situation - yes, to everything being done by email and referring back to agreements. B and C need to look and be genuinely united and come over as unflappable. The solicitor/executor has to act impartially and periodic reminders of this are useful. Re not paying rent/asking for estate for upkeep of the house, query the legality of this and expect an answer from the solicitor. If the contents are valuable, seek valuations from good auction houses and explain that the items are not only being valued for probate but need to be split fairly between the three siblings.

unsync · 22/02/2022 16:38

Having experience of split inheritance and executorship, my suggestion would be to put all the contents not bequeathed to auction. That way market value is achieved, the proceeds can be equally divided and any item which A, B or C wish to have, can be bid for. Consider doing the same also for the property. A sounds very unpleasant, hopefully once the estate is settled, B and C can just walk away. Good luck.

Original poster
hopeishere · 22/02/2022 16:51

No contents were mentioned just some specific financial bequests.

OP posts:
Original poster
hopeishere · 10/05/2022 17:18

Just to update. The house is now up for sale. Some sorting of the mess has been done but the bulk of it still needs done.

B has totally fallen out with A over the whole thing.

OP posts:
MichelleScarn · 10/05/2022 17:20

Is A buying it?

Original poster
hopeishere · 10/05/2022 17:28

No. He couldn't afford to in the end. He's stalling with the clear out but at least it's on the market.

OP posts:
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