Auntie Invested my Money without consent?
My Grandma died 6 years ago, and left quite a bit of money; savings and the sale of two homes. Myself, two sisters and my two cousins all received access to our savings accounts which my grandma set up for us when we were all born. As my grandmas death was not sudden, she had made arrangements with my auntie and dad regarding the rest of the money. It was decided that both houses would be sold and all savings would be put into a pot and divided amongst us all. this would then be split into 2 parts, for my dad and auntie, who then divided as they wished between the children.
problem- my auntie received all money as executor of the will and transferred a small lump sum to my dad for funeral fees and any outstanding bills my grandma had. anything left was then kept by my father to be taken off his share. My auntie and uncle then decided they wanted to purchase a vacation villa in Spain.
she invested her share as well as both her sons. She then asked my mum and dad if we wished to do the same. As my older sister was 20, I was 16 and little sister was 15, my mum and dad knew we would want to use the money for cars, houses etc as my grandma intended, within the next few years so the investment was pointless in their eyes. Although we were young they asked and we agreed with them.
a few months later my auntie told my mum and dad that our share was in a high interest account, and they all agreed to leave it there for a year to get the most out of it. by then both myself and younger sister would be looking into driving lessons and cars, and my older sister would be looking at a house. this made sense to us and all agreed.
A few months on and my mother finds out there is not high interest account and she and my uncle invested the lot in the villa, every penny.
to make it worse we have not spoken properly in over 5 years, we were once so close but not anymore and my grandma would be so disappointed, even she advised against the villa.
my parents, myself and my sisters can not get over the fact my auntie had lied so easily to us and has never apologised for it.
we do not know the exact amount that was there at the start, there was no written contract, we didn't think we needed one. my grandma was highly admired and trusted in our family and we thought my auntie would follow through on her wishes. she was my mums best friend and my cousin was...now they barely smile if they see us, as if we are in the wrong.
Is there anything we can do?
my entire family has been torn apart by money. my family would be happy if my auntie admitted she did wrong and attempt to correct it, but she literally doesn't seem bothered at all.
We have requested a copy of the will, but are under the impression it was a verbal agreement between my grandma, dad and auntie. My auntie even told us about it shortly after my grandmother's death
- John DLv 68 years ago
Firstly may I say how sorry I am to hear of your circumstances. My family has also been torn apart over a Will and I fully understand what you are going through. The monies could only be paid out after Probate was granted and the Estates value determined.
It is possible to request a copy of a will by writing to The Postal Searches & Copies Dept, York Probate Sub-Registry, 1st Floor, Castle Chambers, Clifford Street, York, YO1 9RG, giving the full name, address and date of death of the deceased, stating what you require and enclosing the £5 fee. Requests are not accepted by phone. Good luck
- Ian GLv 48 years ago
Erm without a will I think you will be stuffed. Sounds like she has spent the lot on a nice little holiday getaway to me.
Get to a solicitor and get proper advice, I think you are going to need it
- TavyLv 78 years ago
Your parents should talk to a Solicitor, who will need to see a copy of the Will.
- ?Lv 68 years ago
Yes, you need a lawyer!