Life beneficiary of estate

[Harryholt]

My father was named a life beneficiary of his fathers property and lands some 20 years ago. His children, (myself and my two brothers) were named as ultimate beneficiaries of grandads will. So we would inherit when my father is deceased. My father recently went into a nursing home and he wants to name myself and my brother and his own brother (my uncle) as enduring powers of attorney before he loses mental capacity.

Does a power of attorney have the right to sell property if the person themselves is a life beneficiary and does not, i assume, have the right to dispose of assets under that will ?
Do powers of attorney have to act as one, jointly, for descisions made in that role

 

[j26]

This is a very complex one, and there's no straight answer, I'm afraid.
The Land and Conveyancing Law Reform Act, 2009 abolished the life estate as a legal title, vesting legal title in the trustees. Who the trustees are should be set out in the original settlement that created the life estate, but may not be, or the trustees may be deceased. If there are no trustees, then the 2009 Act sets out who can act as trustee - ultimately they may need to be appointed by the Courts. There must be at least 2 trustees to sell the property while your father is still living.

You may, or may not be able to sell the property but there are significant legal and technical issues to deal with before you consider whether selling is in your fathers best interest (your role as attorney), or whether the sale is for your benefit.

Get legal advice from a solicitor familiar with this area of law.

 

[Harryholt]

thanks for reply. Will be speaking to family solicitor next week
just to clarify the original trustee is deceased. The original will made by my grandad stated that my father would be a life beneficiary and then the property should pass onto us, his grandchildren. So i suppose ultimately this doesnt come into effect until my dad passes away.

Its maybe more complex if the powers of attorney are also beneficiaries. I am assuming the role of a POA is to act in my fathers best interest and his wishes. But if he has no legal title in the first place as in this case a POA could not dispose of anything that he doesnt technically own