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VIC Father's Property Willed to Children - Where Does Money Go?

Discussion in 'Wills and Estate Planning Law Forum' started by Faith, 3 November 2014.

  1. Faith

    Faith Member

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    My father willed his home to his 3 children, I am one. My brothers were made executors of will. One is lovely, the other is a greedy nasty hound. My nice brother is terminal and the other brother has been abusive and nasty. I am worried that he will obstruct me when the time comes to settle. The house is on the market. Where does the money go when sold? And how is the money distributed? I am also his victim of sexual abuse as a child, and regularly get traumatized when he attacks me...can I get someone to deal with this for me? Single parent, no money for lawyer...
     
  2. Paul Cott

    Paul Cott Well-Known Member

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    Hi Faith,

    Sorry to hear about that horrible family stuff.

    With the proceeds of an estate, if done through a solicitor (the estate and its distribution) the money should be placed into a trust account and distributed through that avenue.

    As for the attacks which keep occurring, you could get an intervention order (or whatever they are called in the State you are in). The police might help with that - in any event the police seemingly should be involved anyway.

    You may be entitled to victims of crime compensation - you generally dont pay for the legal costs (depending again on what state you in - i am talking about Victoria) - and you have a claim for civil damages too - a solicitor may act for you on a 'no win no fee basis.'

    Hope that gives you some direction.
     
  3. Sarah J

    Sarah J Well-Known Member

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    Hi Faith,

    I am sorry to hear about your history and the current situation you find yourself in. In relation to the property:

    1. Do you have a copy of the will? If not, have you seen a copy of the will? You need to find out what it says on the will regarding how the proceeds are to be sold. If the will is silent on this, proceeds will be distributed in equal shares across the three beneficiaries. The brother's (terminally ill brother) share will either fall to him, or his estate should be too ill to receive.
    2. Has your brother (the executor) obtained probate?
    3. The proceeds will first pay off any mortgages, other charges on the property and costs for the sale.
    4. If it takes some time to distribute the proceeds, any interest (or income) earned on these proceeds will also be distributed equally (or in accordance with the will).

    If your brother (executor) does not do this, you may have an action in trust against your brother for not acting in the interests of all beneficiaries and breaching his fiduciary duties.
     
  4. Sophea

    Sophea Well-Known Member

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    I agree with the above two posts, as an executor your brother owes a fiduciary duty to you and your other brothers as beneficiaries. Therefore, if he did try to swipe more than his share you would have a claim against him for breach of duty. However since a solicitor is acting on his behalf the solicitor should ensure that everything is done properly and will remind your brother of his responsibilities. Know your rights as a beneficiary - there is a lot of information online - and perhaps limit your interactions with him - or deal with his lawyer instead.
     

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