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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:
Pengggwn · 14/01/2018 11:23

This reply has been deleted

Message withdrawn at poster's request.

alotalotalot · 14/01/2018 11:24

Yes Violetta your maths doesn't add up.

Allthewaves · 14/01/2018 11:25

Just have calm chat with sister that your going to split it 71.5k for her and 78.5k to her taking into account the loan against mums estate. Anyone can see this is reasonable

BeerBaby · 14/01/2018 11:25

Be grateful youve got 75k. It was her mother as well just let her have it!

notangelinajolie · 14/01/2018 11:25

Very sorry for your loss Flowers

I would leave it and just split 50/50.

DaphneduM · 14/01/2018 11:26

Please, please, please let it go. Your relationship with your sister is worth far more than £7k. You will find as the years go on that after parents death, there is no longer any need or indeed point to sibling rivalry. There's no parent left to witness it. Be thankful your dear mother has left you a great inheritance. You can buy your own new car with part of it, if that's what you want!!!

alotalotalot · 14/01/2018 11:26

But why should she just let her have it? Her mum wanted the split to be fair or she would have gifted it in the first place.

Snowysky20009 · 14/01/2018 11:27

Just to say sorry for your loss Flowers

dingdongdigeridoo · 14/01/2018 11:28

I don’t think I’d risk damaging the relationship. Even bringing it up casually could cause a rift and she’ll probably think you’re being petty. Let it go. You need each other right now.

ShinyButtons · 14/01/2018 11:28

Even if you did bring it up with your sister, which I wouldn't do, would you not only get £3000 extra because if she paid back the outstanding £6000 before the money was split she'd get back half in her share of inheritance.

Is it really worth risking falling out and appearing petty over an extra £3000

Bearbehind · 14/01/2018 11:29

The difference isn't £7k, it's £3.5k; your sister would still keep half of the £7k and you'd get the other half.

Up to you but you need to consider if £3.5k is worth the potential fall out.

Howsthings1234 · 14/01/2018 11:29

I think it's pretty clear it was a loan so no way your sister should be off with getting less that amount. There's not issue or argument. Just be matter of fact. You get 7k more. End of.

kennyFromTheBlock · 14/01/2018 11:29

I'm fairly shocked your even considering it.

FWIW, unless there's a written agreement of any kind, you won't have any legal right to the 7k.

LadyLapsang · 14/01/2018 11:29

I am sorry for your loss. You are the executor, I believe one of your first duties is to call in the debts to the estate before you can apply for probate.This means you will both receive 78.5K after she has repaid the outstanding 7k unless there is any tax or other bills to pay.

Kintan · 14/01/2018 11:31

Your mum’s just died and you are upset your sister got a free car? In the grand scheme of things I’d let it go if she doesn’t bring it up. I assume as your sister lives in Canada you got to see your mum more when she was alive and you benefited from more of her time and company - I’d just be grateful for that. But hopefully your sister will bring it up herself. I’m very sorry for you loss by the way, I lost my mum a few years ago and it’s still very hard from time to time.

Howsthings1234 · 14/01/2018 11:32

Sorry not 7k more - she's just had an advance on 7k so has already had it. Of the 150 that's left she gets another 68k and you get 82k.

Izzy24 · 14/01/2018 11:32

What all the waves said.

We have this situation in my family where some siblings have borrowed money from the estate. It’s understood that if loans remain unpaid when the inheritance becomes available then any loan will be deducted from the inheritance.

In effect the loan is underwritten by the eventual inheritance. All parties will then have received an equal share of the inheritance.

(Despite the relative wealth/life situation of each heir because this really is the only fair way to do it IMO.)

insancerre · 14/01/2018 11:32

I think you just have to talk to your sister and ask her directly

jusdepamplemousse · 14/01/2018 11:32

Technically your sister owes the estate £7k. Then you are each entitled to half of that £7k - so £3.5k each.

Therefore of the £150k you should get £78.5k and she should get £71.5k (although obviously other debts etc and bills/fees need to be dealt with - but this is the correct theory anyway).

Up to you whether or not you think it’s worth raising. You know how your sister is likely to react presumably and if you will be ok with that reaction.

Bearbehind · 14/01/2018 11:33

Sorry not 7k more - she's just had an advance on 7k so has already had it. Of the 150 that's left she gets another 68k and you get 82k

That's not right- in that situation the OP would have £82k and the sister only £75k in total.

Kintan · 14/01/2018 11:34

Some of the maths on this thread is appalling! How did the previous poster get the figures of a 68k/82k spilt?

Izzy24 · 14/01/2018 11:37

Why the pressure on OP to maintain the relationship by not mentioning the loan?

How about the need for the sister to maintain the relationship by repaying the loan?

Chrys2017 · 14/01/2018 11:38

TeenTimesTwo is correct.

Money owed to a deceased person is legally part of their estate. (Why does everyone assume the sisters would fall out about this?)

You get half each (75000), but your sister then owes you half of the value of the loan from her share. (She reinherits the other half herself.)

So you should receive 3500 more than your sister.

You should receive 78500 and your sister should receive 71500.
Total 150000

seven201 · 14/01/2018 11:39

The loan is actually 6k though as she's already paid back 1k.

You should get 78k and your sister 73k I think.

To the person who said something along the lines of you should be grieving not thinking about money. That's ridiculous. When my mum died I was able to think about stuff other than her death! 6k is A LOT of money and the mum wanted her daughter's to revive an equal share. I think you should ring your sister and ask how she wants to sort the loan repayment and go from there.

seven201 · 14/01/2018 11:39

Sorry, I meant sister should get 72k