Do I get more money?

[bridgetjonesmassivepants]

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?

No advice OP.
I’m sorry for your loss, and I am so very ashamed that some posters on this simple thread are saying such horrible things to and about you.

OP - we had a similar situation recently - the loan giver reminded me (executor of the loan - and had already discussed it with the loan recipient). Loan recipient also reminded me about the loan. We didn't do a real pay back (ie. didn't ask loan recipient to repay full loan into the estate before distribution) but adjusted distribution to take account of loan and everyone saw and checked figures before distribution. I guess we were lucky that everyone was upfront, no one took offence, the loan was acknowledged as a loan and not an additional gift. Hopefully your sister will be similarly sensible. Condolences on your loss.

gah - I was executor of the loan giver's will - not executor of the loan - that adds a whole extra layer of admin!!

I can’t believe how many people are giving the OP a hard time. She asked for basic maths advice not for help with a moral dilemma. As executor of the will she must do things properly.

Favenumber2 -

YOUR MOTHER DIED!!

Funnily enough - I am quite aware of that fact. Thank you for reminding me though.

Estate = £150k
You receive the first £7,000 to equalise the position with your sister.
The remaining £143k is split 50:50.
Therefore you receive £78.5k and she receives £71.5k (plus the ownership of the car).
From what you've said it it sounds as if your sister would recognise the fairness of this and it wouldn't cause an issue. However, if she does kick up a stink and there's no 'proof' of the loan, then it's the executor's duty to prove that they have acted fairly and equitably.

I'm sorry for your loss 💐

@bridgetjonesmassivepants firstly, I never said your mum would be pleased leaving you that amount of money. I didn't say anything about her feelings/thoughts/whatever because I don't bloody know her!

I just don't understand why you are quibbling over a 7k loan made to your sister by your mother (presumably when she was alive because the loan was 8k and she's already paid 1k back) when you are set to inherit 75k !!

I presume you have a family solicitor? Or at least there is such a thing where you live? If so, take all your paperwork and the will to the solicitor and ASK WHAT THE LEGAL ANSWER IS instead of coming on here.

Favemunmber2 - apologies for using the wrong members name. I agree that comment was from someone else.

Not going to engage with you any further.

@bridgetjonesmassivepants

You're welcome.

As I said, take the question to your solicitor who will give you a legal answer, with no ifs, buts, maybes and perhaps' rather than 259 posts of "let it go, take the seven, gift it, walk away, take 3500 ..."

Why do deaths and inheritances always bring out the worst in people?

Obviously, you should take the money owed out. My advice would be to speak about it first as money some people greedy and it makes families fall out. I inherited a far smaller amount than that. My brother had been given the family home long before my father died, I was given nothing. Money left was to be split between us 50/50. Outside of the will there was a holiday home. He had the keys and sold it for a 10th of it's value before even telling me or giving me an option to run it as a business. There was also a car which I needed, he gave it away to a relative as a gift from both of us and decided I should give him half the amount of the car, so was abusive and bad mouthing me until he got it. All my family are rich homeowners. I do not own a home, the amount i received was not even a deposit. I am disabled and poor so I got a raw deal and needed all the money that I could get. Even though I was in the right, none of my family have spoken to me since. Obviously, they are scum but I know I am not the only one who has ended up with a bad deal, then excluded.

If it was my younger sibling I would let it go but my other sibling no way as they would check every penny and have had more "loans" than 118 could supply. It depends if it is likely to eat you up ongoing best get it sorted now if not see if she mentions it first x

I just don't understand why you are quibbling over a 7k loan made to your sister by your mother (presumably when she was alive because the loan was 8k and she's already paid 1k back) when you are set to inherit 75k !!

The OP is not quibbling. I think she's made that clear.

Surely it depends also on relative financial situations. It should be an even split taking the loan into account, but if the op is significantly better off than her sister she may feel generous and decide to write off the 7k. But the starting point should be financial fairness and anything after that formed as part of a discussion.

What would happen if a person gave another person 20k once and wrote a letter saying it was a "gift" which was then copied to a solicitor and the recipient has a copy of this and no other family members are aware of this "gift" but there was an informal arrangement that this would eventually be paid back but as of nothing has been paid...and the "gift giver" dies. Does the recipient have a legal duty to declare this to other siblings? What if the recipient is not executor?

If it is not mentioned in the will, then the estate if £150k split in half. If it is mentioned, the estate is £157 and you would get 157/2 i.e. £78.5k. Yor sis would get £78.5k - 7 = £71.5k. However, I would suspect it is not mentioned in the will. I am sure your mum has bought you things over the years.

OP, I think it’s worth bearing in mind that on a long thread a lot of people will weigh in at the end after not reading the full thread.

The money is yours by right, so you have nothing to feel bad about.

Good luck with what must be a very difficult job at a very difficult time.

We have a similar situation in our family. My ds was given the same amount of money by our dm when she was in need of some financial help several years ago. The plan was that my ds would pay it off if she was ever able to which now she could but hasn’t. However, I would never dream of bringing the subject up with her as the arrangement was with my dm and nothing to do with me. In fact my dm has talked to me about it and I have stated that it doesn’t bother me - she needed the money and I’m just grateful that my dm could help her out and ease her stress. It’s up to you what you do op but is it worth falling out with your ds over?

If someone gave me £75,000 I couldn't be arsed to quibble about an extra £3,500. If nothing is written down about the loan, and if nothing is written in the will about deducting outstanding payments on the loan from the inheritance, then you have no legal case. And I can't help thinking that you come across as mean spirited and grasping - is that how you wish to appear?

Seriously you can't divide the amount (even using a calculator) in two and minus off the loan from sibling portion and add that differnace to your total?.Stealth boast alert !

couldn't agree with you more Fave, why the op doesn't take this to her solicitor is beyond me, why is she not discussing this with her sister instead of a load of randoms online? what on earth did she expect to hear, she's about to come into a lot of money and that's all it sounds she cares about

op, basically if you want to rip your sister off, do it yourself, dont ask strangers online their advice as you cant do maths....sheesh...

I think it's really uncalled for to say that she's ripping her sister off and for posters to act like she's somehow disrespecting her mother. I know my parents would want it taken into account - it sounds like the OP's mother might have felt the same as well. My sister would expect a loan to be taken out of the estate and so would I.

Oh for fucks sake!!

OP IS THE EXECUTOR OF THE WILL.

SHE MUST INCLUDE THE LOAN. FACT.

PEOPLE, PLEASE READ THE WHOLE BLOODY THREAD BEFORE SLAGGING THE OP OFF!

SHE IS NOT BEING GRABBY.

SHE WANTED TO KNOW HOW TO DIVIDE THE MONEY BECAUSE SHE MUST DO IT.

DON'T BE SO MEAN!

David My thoughts exactly. People here don’t understand the role of the executor and they also have very poor reading comprehension skills.

If the OP's mother didn't "write off" the loan then neither should she. Nor can she legally even if she wanted to.

OP, executing a will can take a long time. You need to finalise with your sister a date for her to stop making repayments so you can calculate correctly how much she still owes.

As previous posters have said if she still owes £7k then that £7k belongs to the estate.

£150k ÷ 2 = £75k each
£75k - £7 owed = £68k for your sister
£7k (now back in the estate) ÷ 2 = £3.5k each
You get £78.5
Sister gets £71.5

If she makes a fuss then tell her you will take it to a solicitor to sort. They will require her to pay it back one way or another and charge you both for the privilege.

Your sister will now owe your mums estate 7k making it worth £157.

Her share will then be 50% of this, £78, 500 but offsetting the 7k owed the split will actually be £71, 500 for her and £78,500 for you