Q: My father has a property which is on my name. My father gifted my mother a yearly amount from the property over many years when she was alive which was solely for her use. My father is unwell, and is not capable of signing and making decisions because of his illness.
We are 4 children (1 son and 3 daughters). 1 son passed away years before my mother, leaving 1 grandson. Now my siblings want the yearly income that is currently generated from the the property, as they feel their mother used to receive it previously and it should now come to them. Is this money due to the children with my father alive?
What should be done with this money? Should it be put back into the business or be shared with the children? Should the money be put into a trust while my father is still alive? What is the best advice you can give in doing the right thing?