I would like to know the following. When the Terms of the Will of the Testator are clear and concise to be followed and understood by the Executors/Beneficiaries of the Will, then are the Terms of the Will sufficient when the Estate has to be wound up and the Beneficiaries receive their distributed inheritance.
My older male sibling and me are the Executors/Beneficiaries of our late mother's Estate. Our late mother gave me, her daughter, the right to live in this property until such time that I would be of the mind to cease living here, but until that time the furniture and the house could not be sold without my consent.
Now, my older male sibling who is financially much better off than me, has been placing pressure on me to sell this property before I had made a conscious free will decision to do so.
I believe he is only concerned about his property and his financial status, and the Capital Gains Tax this present property would incur.
I am on a Centrelink benefit, my older male sibling is self employed, owns two properties that I know of and has invested his main property with a Property Investment Broker. I do not know whether he resides at the property on Sydney's Upper North Shore.
I know that my older sibling will continue to hound/harrass me until he gets his way and the house will be sold. It had been suggested to me that I sell to get away from my older sibling's continuous obnoxious and demanding behaviour.
Our late mother was very worried about me and as a result of her maternal concern worded her Will as it appears and had given me the residency right to reside in this house because I did not and continue not to have the finance to afford to purchase my own property. Our late mother had very deep insight.
In all good conscience, would it not be a right thing to do for my older sibling to consent to the terms of the Will of our late mother and for me to live in the house until such time that I was of the mind to cease living in the house and from a free will decision, when being fully ready to cease residing in this property, place the house on the market?
There is a Joint Bank Account, and this has only a small balance at present, enough to pay the Home and Contents Insurance for this year, enough to pay the next Land Rates and Water Rates, and for the remainder of this year 2018.
I believe that my older sibling is far too concerned about the Capital Gains Tax that this property would incur as May 13 this year is the second year anniversary of our late mother's passing, as my older sibling had made the statement late last year, that he would lose the amount of $240,000.
My older sibling had offered me 7% extra on top of the equally distributed net proceeds and he would take 7% less. Then as I had not replied to his email within seven days, (there was no time limit in which to reply), he withdrew his offer. It has been a "cat and mouse" game for almost two years now.
Now my older sibling is wanting me to agree to a 50/50 split of the net proceeds of the sale of this property. He drew up a ten point declaration that he has wanted me to sign, and has inserted a point that states that the declaration was made my both of us, without undue force or pressure.
I had never said that my older sibling would not receive his equal share of the net proceeds of the property sale.
I had not chased my older sibling with documentation or otherwise, to keep his "word", and that he would offer me 7%. more and he take 7% less.
I am willing to share equally the net proceeds of this property sale.
I had continued to state that I would abide by the Terms of the Will, but still he does not and will not accept my words.
In all of this, I find myself, mentally unprepared to cope with the fact/reality that I will soon be without a home as I have lived here these past twenty years whilst being a full time carer for both of my parents (where my older sibling was nowhere to be seen), and having to spend my inheritance to find a place to live, that my home (50%) at least could be my home until I was ready to sell it.
Of course, I understand that I would be purchasing a property anyway, but that would be when I was ready to cease living here, and not under this current situation that has presented itself to date.
The property has now begun the process of the first initial steps toward placing this house on the market. No contract has been signed and photographs had not yet been taken of the property that takes place in the second week of April.
This is my main place of residence, I have no other investments, shares, homes, cars, (I Public Transport only), and am not eligible for a home loan.
I have joined up to this website to enable me to understand and to obtain the answers to questions that I am, at present not being given.
My current legal representative has suggested that I sell, purchase a property for myself, preferably in an over 55's Retirement Village so that I may have peace of mind and to extract myself from this unequally yoked relationship with my older sibling.
My current legal representative has been attempting to prevent this matter from spilling into the world of litigation, where my inheritance will "disintegrate" with the outgoing costings of legal fees and where my older sibling would be able to afford an ongoing legal fight.
It had been suggested by my current legal representative that an Actuary would calculate my life's expectancy and the amount that was calculated to be added to my share of the distribution.This suggestion has not manifested itself into action and thus no Actuary has been engaged for this purpose.
However, I now believe that my older sibling's declaration for me to agree to a 50/50 split is to prevent such action and to prevent an extra amount to be added to the final net distribution total.
Thank you for your reply to my question. I have attempted to put two years worth of this matter into the paragraphs written today.
My older male sibling and me are the Executors/Beneficiaries of our late mother's Estate. Our late mother gave me, her daughter, the right to live in this property until such time that I would be of the mind to cease living here, but until that time the furniture and the house could not be sold without my consent.
Now, my older male sibling who is financially much better off than me, has been placing pressure on me to sell this property before I had made a conscious free will decision to do so.
I believe he is only concerned about his property and his financial status, and the Capital Gains Tax this present property would incur.
I am on a Centrelink benefit, my older male sibling is self employed, owns two properties that I know of and has invested his main property with a Property Investment Broker. I do not know whether he resides at the property on Sydney's Upper North Shore.
I know that my older sibling will continue to hound/harrass me until he gets his way and the house will be sold. It had been suggested to me that I sell to get away from my older sibling's continuous obnoxious and demanding behaviour.
Our late mother was very worried about me and as a result of her maternal concern worded her Will as it appears and had given me the residency right to reside in this house because I did not and continue not to have the finance to afford to purchase my own property. Our late mother had very deep insight.
In all good conscience, would it not be a right thing to do for my older sibling to consent to the terms of the Will of our late mother and for me to live in the house until such time that I was of the mind to cease living in the house and from a free will decision, when being fully ready to cease residing in this property, place the house on the market?
There is a Joint Bank Account, and this has only a small balance at present, enough to pay the Home and Contents Insurance for this year, enough to pay the next Land Rates and Water Rates, and for the remainder of this year 2018.
I believe that my older sibling is far too concerned about the Capital Gains Tax that this property would incur as May 13 this year is the second year anniversary of our late mother's passing, as my older sibling had made the statement late last year, that he would lose the amount of $240,000.
My older sibling had offered me 7% extra on top of the equally distributed net proceeds and he would take 7% less. Then as I had not replied to his email within seven days, (there was no time limit in which to reply), he withdrew his offer. It has been a "cat and mouse" game for almost two years now.
Now my older sibling is wanting me to agree to a 50/50 split of the net proceeds of the sale of this property. He drew up a ten point declaration that he has wanted me to sign, and has inserted a point that states that the declaration was made my both of us, without undue force or pressure.
I had never said that my older sibling would not receive his equal share of the net proceeds of the property sale.
I had not chased my older sibling with documentation or otherwise, to keep his "word", and that he would offer me 7%. more and he take 7% less.
I am willing to share equally the net proceeds of this property sale.
I had continued to state that I would abide by the Terms of the Will, but still he does not and will not accept my words.
In all of this, I find myself, mentally unprepared to cope with the fact/reality that I will soon be without a home as I have lived here these past twenty years whilst being a full time carer for both of my parents (where my older sibling was nowhere to be seen), and having to spend my inheritance to find a place to live, that my home (50%) at least could be my home until I was ready to sell it.
Of course, I understand that I would be purchasing a property anyway, but that would be when I was ready to cease living here, and not under this current situation that has presented itself to date.
The property has now begun the process of the first initial steps toward placing this house on the market. No contract has been signed and photographs had not yet been taken of the property that takes place in the second week of April.
This is my main place of residence, I have no other investments, shares, homes, cars, (I Public Transport only), and am not eligible for a home loan.
I have joined up to this website to enable me to understand and to obtain the answers to questions that I am, at present not being given.
My current legal representative has suggested that I sell, purchase a property for myself, preferably in an over 55's Retirement Village so that I may have peace of mind and to extract myself from this unequally yoked relationship with my older sibling.
My current legal representative has been attempting to prevent this matter from spilling into the world of litigation, where my inheritance will "disintegrate" with the outgoing costings of legal fees and where my older sibling would be able to afford an ongoing legal fight.
It had been suggested by my current legal representative that an Actuary would calculate my life's expectancy and the amount that was calculated to be added to my share of the distribution.This suggestion has not manifested itself into action and thus no Actuary has been engaged for this purpose.
However, I now believe that my older sibling's declaration for me to agree to a 50/50 split is to prevent such action and to prevent an extra amount to be added to the final net distribution total.
Thank you for your reply to my question. I have attempted to put two years worth of this matter into the paragraphs written today.
