Confused re late fathers policy with bank property fund or bond' ?

W

WANDE14

Registered User
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hi all,

Hoping someone can shine some light on this for me. My late father had 2 policies with an Irish bank. All I know is that they were 'property funds or bonds'

Our solicitor isn't saying too much on this, telling us we have to sit tight fir a while to access details but we have not got a clue what it could mean or t the term property bonds or funds are. We dont know of any property he owned as we didn't have a good relationship at all with him.

Can anyone tell me what this would mean??

D4b
 
@D4b you are not giving us a lot to go on.

The first thing is that the property fund or bonds may have NO value or it could be worth a lot.

Second thing is ownership. It is possible that these were held in joint names and one of the concerns would be that it could be 'joint tenancy' which may mean it goes to the Survivor and not the estate.

I supsect that its a valuation issue and sometimes these funds have protection in case of death.

I am merely speculating. You need to call the solicitor. Who is the executor?
 
Don't think there could be a possibility of joint names. Lived alone and no siblings.

Executor is another solicitor. But this has all come about AFTER the estate has been distributed a number of years ago. ....

I know I'm making hardly any sense but I have no idea why this wasn't addressed a few years ago when he died....
 
At the time of your fathers estate being settled was it known that he had invested within the property fund / bond or has this only come to light afterwards?
 
@D4B - It can often happen that there are undiscovered assets through no fault of Solicitor or executor - just that there was no evidence of them in the personal documents of the deceased.

That said, if they are discovered afterwards - then they are distributed to the beneficiaries unless there has been another arrangement.

It sounds to me that the solicitor has become aware of it and disclosed it and is now following up on it. But you have given us no other details.

If it were me I would simply ask.
 
And as investors monies was locked into a lot of these funds due to the falls in values any monies may well have only become available for distribution now
 
I'm confused at this, but there is a certainty that the beneficiaries of your late father's will are entitled to know of the make up, the original investment and value of these funds. I am unable to see as to what reason you are been asked to hold off. The solicitor who was meant to be the executor should be drafted back in to the circumstances ASAP. There is something astray here and could be classed as a bit smelly. OP get your finger out. It doesn't mean that if you all didn't see eye to eye with your father it does not mean he didn't have high regard for you.
 
mercman said:
I'm confused at this, but there is a certainty that the beneficiaries of your late father's will are entitled to know of the make up, the original investment and value of these funds. I am unable to see as to what reason you are been asked to hold off. The solicitor who was meant to be the executor should be drafted back in to the circumstances ASAP. There is something astray here and could be classed as a bit smelly. OP get your finger out. It doesn't mean that if you all didn't see eye to eye with your father it does not mean he didn't have high regard for you.
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Trust me he had no regard. But that is not what I am asking. Can anyone tell me or explain the terms of 'propery funds or bonds'

The executer has just recently contacted my solicitor when this has come to light and we are waiting to hear from the bank society on the details of it.....
 
Let me make a suggestion. Follow Wizard Dr's advice

"It sounds to me that the solicitor has become aware of it and disclosed it and is now following up on it.........If it were me I would simply ask. "

You don't have enough information to be posting a question about the situation on this website to expect any kind of rational, informed answer.

Just ask. It sounds as if it is simply an asset which has only now come to light. It does not sound tricky, "smelly" or anything else.

And when you find out, come back and tell us what it was.

mf
 
Just waned to thank those of you who replied and to update ye :)

Turns out a policy was taken out with a broker and this has only come to light now but has been sorted so many thanks again x
 
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