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Original poster

Do I get more money?

304 replies

bridgetjonesmassivepants · 14/01/2018 10:31

Can't work this out. I've changed a few details so it's not very identifiable and posting here for traffic.

Recently my mum died and my sister and I were left with £150,000 between us. (Bungalow had already been sold as mum had just moved into a nursing home) Will says everything is split between us two. But, my sister had a loan for £8000 from mum when she sold the bungalow to buy a car, she had only paid back £1000 of this when mum died.

Question is, how is the £150,000 split taking into account that sister has got an extra £7000?

OP posts:
Puppymonkeybaby1 · 14/01/2018 10:34

Did your mum gift the money to your sister? If so, I would guess this falls outside of your inheritance?

TeenTimesTwo · 14/01/2018 10:35

Estate is actually worth 157k

So you each get 78.5k

So you get 78.5k, sister gets the rest comprising 71.5k plus 7k loan written off.

Puppymonkeybaby1 · 14/01/2018 10:35

Also, I'm not sure I could bring myself to argue with my sibling over £7k when I've just inherited £75k

Trills · 14/01/2018 10:35

Did your mum and sister have a written agreement?

The will won't "know" about the loan unless there's something written down, so you'll be given an equal split and you'd have to ask your sister to make it even.

MatildaTheCat · 14/01/2018 10:38

Her loan should be deducted from her share of the inheritance. Hopefully this was agreed and she won’t be awkward.

Blackteadrinker77 · 14/01/2018 10:40

Your sister should get 3.5k less.

Original poster
bridgetjonesmassivepants · 14/01/2018 10:40

Money was not a gift, it was a loan with repayments in place. Almost 100% sister will be fine but I am rubbish with figures and don't want to say, ' I think you should get this much,' if I'm wrong with my workings out.

OP posts:
averylongtimeago · 14/01/2018 10:41

If this was just an informal agreement between your mum and sister then I think the "debt" ended when your mum passed away, so can't be enforced.
If there was something more formal in place, then it depends on what it says in the "small print".

If she had paid it back in full, you would each be entitled to another 4K, it's up to you to decide if your relationship with your sister is worth upsetting for this amount of money.

You might feel that she should pay it back, she might feel her mum would have wanted it written off. There is, in my experience, nothing like a funeral and an argument over money to split a family in two.

Pengggwn · 14/01/2018 10:42

This reply has been deleted

Message withdrawn at poster's request.

Namethecat · 14/01/2018 10:43

The will states 50/50 so whatever that is, that is the legal distribution. You can only have a conversation with your sister asking what her plan is to make it 'equal '. Hopefully she will agree .

Foreverhopeful22 · 14/01/2018 10:44

I don't think I would mention it . Too stressful.

If she approaches you about it then ask her what you should both do.

Original poster
bridgetjonesmassivepants · 14/01/2018 10:44

We are not arguing - it hasn't even been mentioned. Also I am the executor so I have to hand the money over. Mum would very much have wanted us to have the same, she always treated us both equally.

OP posts:
Haudyerwheesht · 14/01/2018 10:46

There is no way ON EARTH I would bring this up. Split it 50/50 and that's it.

Pengggwn · 14/01/2018 10:48

This reply has been deleted

Message withdrawn at poster's request.

donquixotedelamancha · 14/01/2018 10:49

Estate is actually worth 157k. So you each get 78.5k. So you get 78.5k, sister gets the rest comprising 71.5k plus 7k loan written off.

Yes, that.

The will won't "know" about the loan unless there's something written down, so you'll be given an equal split and you'd have to ask your sister to make it even.

If the sisters are executing the split, this is easy to solve; but if there is any doubt, have your sister cut you a cheque for 3.5K after the money goes through. Numbers will be the same as above.

If this was just an informal agreement between your mum and sister then I think the "debt" ended when your mum passed away, so can't be enforced.

That's not true either morally or in law. The only question is whether the debt can be proved, but if it gets to that point then (like PPs) I think the OP is better letting it slide.

Original poster
bridgetjonesmassivepants · 14/01/2018 10:49

Feel like I'm going back to being a teenager again. My head says 50 / 50 split but then my 14 year old self starts whining, 'That's SO unfair, she got free car!!'

Also want to stress - haven't said any of this to my sister - just venting.

OP posts:
NoCanoe · 14/01/2018 10:50

If the money came out of her inheritance and gift to party and was properly identified as such, then no problem.
If given with no indication of prior loan. Then it's a problem.

Missonihoni · 14/01/2018 10:50

I would include the loan and deduct it from her amount.

It might be small In comparison to the rest but it still counts. If she has any morals she won't mind.

ArchchancellorsHat · 14/01/2018 10:55

I'd call it 157k/2 so 78.5k to you and the remainder to her. Is your sister likely to argue - she obviously acknowledges the loan as she'd begun repayments. I don't see any need for it to turn into an argument but I would be transparent about the figures and discuss it with her.

I'm sorry for your loss.

Violletta · 14/01/2018 10:55

i have a loan from my mum - similar amount, and i will say to my siblings, that the amount i owe (say 9k) goes back in to the pot, and then i will get 3k less than my siblings

but in the big scheme of things, you're 'only' 3.5k down on 150k.... hopefully she will just think the same as me

Pengggwn · 14/01/2018 10:56

This reply has been deleted

Message withdrawn at poster's request.

Trashboat · 14/01/2018 10:56

not sure I could bring myself to argue with my sibling over £7k when I've just inherited £75k

Yes to this.

My head says 50 / 50 split but then my 14 year old self starts whining, 'That's SO unfair, she got free car!!'

Then grow the fuck up. Honestly.

Hullygully · 14/01/2018 10:57

Talk to her about it. Be completely honest. it doesn't have to be unpleasant.

NeverTwerkNaked · 14/01/2018 10:58

I think I would be minded to write it off, family matters more than a few thousand pounds surely?

KayaG · 14/01/2018 10:58

The executor is supposed to call in all debts before applying for probate. I believe that's a legal obligation, but I could be wrong.