The end game
By M on Tuesday 2 June 2009, 16:35 - Journal - Permalink
The last few months have been spent, in part, slowly working through the
process of tidying up.
All the known major investments, insurance policies and accounts have been, or are very close to being, liquidated and consolidated in the one bank account. Only mum and dad's UK premium bonds, which amount to a mere 36 pounds, are still outstanding, and I am in the process of searching for old bank accounts in the UK, those we may never have heard of, through www.mylostaccount.org.uk.
The house has just been sold for a good price, within four days of being on the market, and despite the deep economic trough we keep hearing about. I am sure that the improvements Greg organised for the house were very instrumental in facilitating the sale. We had tenants in residence for just a few months, but it seems that one or more of them wanted to leave and the remaining one couldn't afford the place on his own. He asked to terminate his lease early and, given the difficulty we had had getting regular rent payments from him and his co-tenants, we agreed quite readily. We were rather unimpressed, to be honest, not least with their casual attitude to mail intended for mum and dad. Some of it appears to have been just thrown away, and at least one letter was used as notepaper.
When we hired a solicitor to do the conveyancing we also asked him to look after the application for a grant of probate. How this works in Australia is, I imagine, fairly similar to how it works in other countries. If the estate is significant enough, or if the wills are sufficiently complex (or non-existent), then the administration of the will must be granted by a clerk of the supreme court. Greg and I, as executors, have had to apply for this power to be granted to us before we can dispose of the house. The completion of the sale is therefore now hanging on us having probate completed. There was been one hiccup in the process, however. When we had a codicil added to mum's will, the family lawyer took the original for safe keeping, and provided me with a copy. Since then, he retired and passed his practice in toto to another law firm. When our solicitor contacted them to ask for the codicil they reported that they were unable to find it! Now, providing everyone plays sensibly, we should be able to get this sorted out, since no beneficiaries were changed, only the names of the executors, and for very transparent and understandable reasons (Derek being in the UK, Greg and I being here). However, it does complicate the process, requiring additional explanations to be written, evaluated, acceded to, and then acted upon, best case.
Despite this, from what I hear of others who have been in a similar situation, we are having a dream run with this process.
In the middle of these considerations, mum's 87th birthday came and went, in April. I remembered on the day, unlike last year, and wondered what was appropriate. Nothing, really. There's no grave to attend, no spouse to call, or anything like that.
All the known major investments, insurance policies and accounts have been, or are very close to being, liquidated and consolidated in the one bank account. Only mum and dad's UK premium bonds, which amount to a mere 36 pounds, are still outstanding, and I am in the process of searching for old bank accounts in the UK, those we may never have heard of, through www.mylostaccount.org.uk.
The house has just been sold for a good price, within four days of being on the market, and despite the deep economic trough we keep hearing about. I am sure that the improvements Greg organised for the house were very instrumental in facilitating the sale. We had tenants in residence for just a few months, but it seems that one or more of them wanted to leave and the remaining one couldn't afford the place on his own. He asked to terminate his lease early and, given the difficulty we had had getting regular rent payments from him and his co-tenants, we agreed quite readily. We were rather unimpressed, to be honest, not least with their casual attitude to mail intended for mum and dad. Some of it appears to have been just thrown away, and at least one letter was used as notepaper.
When we hired a solicitor to do the conveyancing we also asked him to look after the application for a grant of probate. How this works in Australia is, I imagine, fairly similar to how it works in other countries. If the estate is significant enough, or if the wills are sufficiently complex (or non-existent), then the administration of the will must be granted by a clerk of the supreme court. Greg and I, as executors, have had to apply for this power to be granted to us before we can dispose of the house. The completion of the sale is therefore now hanging on us having probate completed. There was been one hiccup in the process, however. When we had a codicil added to mum's will, the family lawyer took the original for safe keeping, and provided me with a copy. Since then, he retired and passed his practice in toto to another law firm. When our solicitor contacted them to ask for the codicil they reported that they were unable to find it! Now, providing everyone plays sensibly, we should be able to get this sorted out, since no beneficiaries were changed, only the names of the executors, and for very transparent and understandable reasons (Derek being in the UK, Greg and I being here). However, it does complicate the process, requiring additional explanations to be written, evaluated, acceded to, and then acted upon, best case.
Despite this, from what I hear of others who have been in a similar situation, we are having a dream run with this process.
In the middle of these considerations, mum's 87th birthday came and went, in April. I remembered on the day, unlike last year, and wondered what was appropriate. Nothing, really. There's no grave to attend, no spouse to call, or anything like that.
Comments
Sounds exactly like what I am doing, with a bit of help from my sisters, one of whom, with her husband, is still the executor, although we are in the process of getting that changed, since my sisters decided to elect me sole heir. It is a long process, even though it seems as though it should be much simpler, but, at least, at every juncture, what is required is straightforward and easy to manage and there are no disagreements to negotiate.
Good to hear from you again, Mike. I hope, otherwise, all is well, or, at least, interesting, for you!
I think we have moms will all in tack. Our problems are not having enough money for all her needs but having to much money for help from the gov. I couldn't hire someone to watch my mom because it cost more than my paycheck and mom had too many resources for help paying for a caregiver. She could not afford to pay for the caregiver either. We finally have Hospice coming out which is great . But it took 3 yrs for her to be able to get Hospice and that means she is getting worst. She is not End Of Life "thank god". But it still sucks.http://alzheimersandmomblog.blogspo...