Executor question on dividing an estate

[werner]

My sister and I have inherited property (the will states that the estate is to be divided equally between us)

I am the sole executor

We want to sell the property and divide the proceeds

My sister is unwell and wants me to handle the sale

What should I request of my solicitor to keep things above board and transparent in the interests of my sister?

thanks in advance

 

[j26]

That sounds pretty simple. Just get the solicitor to keep her informed of what's happening (contracts signed, purchase price etc), and send her share of the proceeds to her.

You can transfer the property as personal representative once the will has gone to Probate, so she doesn't need to get involved if she doesn't want to. However, I would get something in writing that she is happy for you to sell the property as personal representative instead of putting it in joint names.

 

[dazza21ie]

There may be a tax advantage in having the property registered in your joint names (you can claim CGT annual exemption if registered as owner but cannot claim it if selling as per rep) and registering might keep her involved as she has to sign the contract and transfer.