Leaving Money in a Will

[smurfchops]

My brother wants to leave some money to his children in his will, but the only way they can get the money is if his wife - their stepmum - sells a property. So would the children have to wait for their money until a property is sold (they have a rented house their step mum can sell) and would they get back dated money from when their dad dies ?

[factor-fiction]

Scotland or England? It may not matter but I know that the laws are different in Scotland and can favour children a bit more.
He can't leave money he hasn't got, so I think you are saying can he make the step mum sell up? Who owns the house- is it in his name, joint names or just her name.
Why not agree with her to sell the property now and put some cash in their accounts, some of which he could then leave to the children in his will.
It's worth paying for legal advice to get it right if the amounts involved make it worthwhile.

[maclarencat]

He could leave the children a percentage interest in the house and then when it is sold they will get the money. If the stepmum then refuses to sell the can force a sale through the courts

[smurfchops]

Its England, and yes the stepmum is willing to sell the house if and when the time comes. We are just wondering if, as she will have to sell, if she will have to back date the money (i.e. give them interest) , and is it legal for the children to have to wait possibly a few months ?

[dzug2]

There is no entitlement to interest for at least a year after death. Waiting 'a few months' is not only legal - it's to be expected.

[smurfchops]

Thanks all, set our minds at rest. She would rather have the money in property for goodness-knows-how-long-if-ever, than leave it in a bank account gathering next to nothing in interest.