View Full Version : Inheritance
siicklife
Aug 30, 2013, 11:35 AM
I am to turn 18 in a few weeks and there has been a will with my name as beneficiary. The legal age of inheriting the money is 21 but I have been told there are other ways to get this. One is a parental discharge which I am not able to try as I don't have contact with my parents, the other idea I have is that the there are three executors named in the will, if two agree to let me inherit the money and one says no will I receive the money and if not is there any other way of going about this? I ask this as being executors of the will they have some form of power.
joypulv
Aug 30, 2013, 11:39 AM
Wills are not acted upon until the person who wrote the will dies.
Do you mean a trust?
When you say you can't contact your parents, I have a feeling you don't mean in the spirit world.
If it's a trust, I have a feeling you have a snowball's chance in hell of getting any executor to give you money at 18. Your parents designed it the way they did for a reason.
Also - what country, and if US, what state? Age may matter.
siicklife
Aug 30, 2013, 11:46 AM
Wills are not acted upon until the person who wrote the will dies.
Do you mean a trust?
When you say you can't contact your parents, I have a feeling you don't mean in the spirit world.
If it's a trust, I have a feeling you have a snowball's chance in hell of getting any executor to give you money at 18. Your parents designed it the way they did for a reason.
Also - what country, and if US, what state? Age may matter.
It's not my parents will, it's my great grandfathers will, I don't have contact with my parents in the real world because we are not on any form of good terms. The three executors named are the solicitor (lawyer) my grandmother and my grandmothers sister and I'm from the united kingdom is of help to you?
ScottGem
Aug 30, 2013, 11:51 AM
If those are the wills provisions, I doubt if there is anything you can do to change them. If you can't get 2 of the three executors to agree then you will have to wait.
siicklife
Aug 30, 2013, 11:54 AM
If those are the wills provisions, I doubt if there is anything you can do to change them. If you can't get 2 of the three executors to agree then you will have to wait.
If I can get two out of three of the executors to side with me and agree to transfer the money to me as a beneficiary will the third executor have to agree due to a majority vote?
siicklife
Aug 30, 2013, 11:56 AM
If those are the wills provisions, I doubt if there is anything you can do to change them. If you can't get 2 of the three executors to agree then you will have to wait.
Also is it legal for one executor (lawyer) to transfer my share of the inheritance to another executor on my behalf to transfer to me?
joypulv
Aug 30, 2013, 12:41 PM
I'm not convinced that it isn't what is called a testamentary trust or a will trust, especially if your great grandfather died quite a while ago. There's probably a lot we are guessing about without seeing a copy of the document. Are you reading from it? Usually all the conditions are spelled out.
ScottGem
Aug 30, 2013, 01:52 PM
Is this provision in the will or in UK law?
What do you mean by transfer your share? Your share should be invested in an account in the name of the estate or trust, not in an individual executor's name.
AK lawyer
Aug 31, 2013, 06:31 PM
If i can get two out of three ofthe executors to side with me and agree to transfer the money to me as a beneficiary will the third executor have to agree due to a majority vote?
Doesn't sound right to me, but I am not familiar with British probate law. If the trust terms allow for a majority vote, probably, but otherwise I would think not. It's likely that you are not dealing with a "legal age to inherit" but rather the wishes of your great-grandfather. The executors have a duty to honor his judgment as expressed in his will. And if he figured you would not be careful enough with the money at age 18, they should go along with his judgment.
Is it England, Scotland, Wales, or Northern Ireland?