the house needs to be valued
I've seen the will
he wording goes
my just debts, funeral and testamentary expenses are to be paid from the proceeds of my credit union account and where theres a shortfall, the same just debts, funeral and testimentary expenses are to be paid by [my name]
The house is probably worth about 200k - 250k at a guess as it needs a fair bit of work. I have no problem paying up if that's what's required (or even to keep relations good) but was trying to understand why my sister stressed that it was my debt and shut out any further discussion when I mentioned the account or the wording in the will.It seems to me that the estate has not enough to cover the probate cost and the house valuation so you are liable for these down the line. Is the house worth a lot of money ? 2% of 200k is doable but 2% of 1000k is large enough.
You said there is a small sum in the credit union to pay for debts, with you only being liable for any shortfall. A few years ago I paid €5,000 for a typical funeral in Dublin, the hotel afterwards was a further €2,500, add on to that the probate fee, the solicitors legal fee for probate and the solicitors legal fee for conveyancing, that all adds up to a lot more than a small sum. As others have speculated, the most likely reason for these debts being yours is there is not enough in the credit union.but was trying to understand why my sister stressed that it was my debt and shut out any further discussion when I mentioned the account or the wording in the will.
How much is the small sum in the CU
I don't know for certain as the account is locked down for GDPR but the most recent paperwork I found has a little over 10k in it.How much is the small sum in the CU? It could already be gone on the funeral if small enough.
Is death benefit where applicable just added on to the account balance ? If yes and the account holder had filled out a nomination form the funds (up to €23,000) would go to the person named on the nomination form and only amounts above the limit (if any) will form part of the estate.The estate may also get the Death Benefit insurance from the Credit Union if the insurance was in place.
Is death benefit where applicable just added on to the account balance ? If yes and the account holder had filled out a nomination form the funds (up to €23,000) would go to the person named on the nomination form and only amounts above the limit (if any) will form part of the estate.
Or is the death benefit specifically for death expenses regardless of any nominated person ?
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