Probate / will advice please

[DewDropsonKittens]

My DH was estranged from his mother who died earlier this year.

He has 3 siblings, his sister was named as executor of the will. It has gone through probate and the will has given a divide of monies to 3 of his siblings, nothing to my DH but his quarter to go to our 2 children in an ISA till they are 25.

His estranged sibling has asked a family member to request our children's date of births from us so accounts can be opened.

We have refused to provide this, as it seems wrong that someone not their parents should open an account in their names and have no idea where the money is that is rightly theirs.

Can anyone advise please?

What advice are you after? As things stand, it seems the executor is trying to follow your MIL's will. You are preventing her from doing so.

You can't prevent the ISA being opened on behalf of the children. You have no rights over that. They can request copies of birth certificates as they are public records. You'd be better advised cooperating as you can guide your children as they grow older and prepare them for their inheritance.

Should they not be looking at trusts rather than ISA’S as they may already have them and it would be against the way they work.

Either way, you need to deal amicably with the executors, they are giving your kids money that legally belongs to them.

So you want them to give you the money so you open the accounts? That's not going to happen, it wasn't your MIL wishes.

This money is for your children. Why are you being a stumbling block?

@premiumhob

I am not being a stumbling block at all, I want my children to have what is theirs rightfully and for them to be able to access it when their grandmother has said she wants them too.

What I don't want, is for someone we are completely estranged from to take something out in the names of my children without us / my children who are currently very small knowing how they access it at the right time.

I don't want the money...my DH doesn't want it.
But having untrustworthy people open accounts and not providing the information required for my children to access it seems wrong.

@billybagpuss that was my thought that it should be a trust, my eldest has 15 years until she is 25 and my youngest has 19 years until she is 25 so I am not sure there is a ISA that can last that long.

I would feel much better about the situation if a solicitor was to contact me for the information

But having untrustworthy people open accounts and not providing the information required for my children to access it seems wrong

Do you think they intend to defraud your children? That doesn't make sense. If that was their intention, they wouldn't need your children's information at all. They would just take the money.

I would feel much better about the situation if a solicitor was to contact me for the information

You want the estate to run up additional legal costs just so you feel comfortable? How is the involvement of a solicitor going to make any difference?

@prh47bridge

It would be preferable because the person responsible for execution of the will is unlikely to provide the information needed to allow my children to access their money when the time comes.

A solicitor would hold that information and provide an impartial service, enabling my children to access their money when the time is right

Why would they go to all the effort of setting up the necessary accounts for your children and paying their inheritance into them, then not tell them which bank the money is held in?

But having untrustworthy people open accounts and not providing the information required for my children to access it seems wrong.

the exeutors of a will have a legal duty to ensure that the inheritance is dealt with - if not you can seek legal advice and have matters resolved

you can apply for a copy of the will as it is a public document

your children will need to be sent statements each year of the money held in the ISA to their home address, the bank or building society must do this as a legal obligation - if this is not forthcoming, then you would at this point need to seek advice form Citizen advise about whether the executors have filled their legal obligations

www.thisismoney.co.uk/money/pensions/article-6915749/What-does-executor-mean-risks.html

But having untrustworthy people open accounts and not providing the information required for my children to access it seems wrong.

I very much doubt these untrustworthy people are going to be able to get around the money laundering laws in the UK and by pass the correct information for the children. They will have to give the correct names, addresses - how do you think they are going to get around this type of legislation?

Why don’t you have a chat with a solicitor to see the best way of handling it. If they already have an isa I don’t think they are allowed another and this would tie up their isa allowance. The trustees will also need birth certificates etc for id you can then contact the family member assure them you’re not being obstinate and handle it properly.

Ps my knowledge on this is very out of date so speak to someone who knows what they’re talking about

@ivykaty44 thank you for your response. Very informative and appreciated.

I have ordered a copy of the will and we will then go from there.

www.thisismoney.co.uk/money/experts/article-4768524/What-happens-children-inherit-money-held-trust.html
There’s some advice here that may answer some questions. The important thing is that you have a copy of the will, which you've ordered. If its not then clear in the will, you can see a solicitor for advice.

You can't prevent the ISA being opened on behalf of the children.

Only a parent or guardian can open an ISA for a child, so the fact that the executor doesn’t realise this would be a warning sign for me. Plus there is a limit on how much can be put in the account at one go - do you know how much the inheritance is worth?

Only a parent or guardian can open an ISA for a child, so the fact that the executor doesn’t realise this would be a warning sign for me

MIL certainly didn't recognise it if her will specified an ISA. She also appears not to have recognised that an ISA would pay out when the children reach 18 given that it seems her will specified that the money should not be released until the children reach 25. However, it isn't clear if the executor is actually trying to open an ISA or is investing the money in some other way.