Inheritance
Q: My father passed away leaving behind some assets (land & money). My late father has 5 sons and 4 daughters and my mum. My questions are:
1: Who has more right over the assets, my mum, sons or daughters or a combination of those?
2: Who's name should the assets be transferred to?
3: How do we distribute the shares (estimated value of £100,000)
4: Would it be right if my mum decides without the consent of the sons to sell some land and spend as she wills?
5: If she was to sell and spend should that about be deducted from her share from the total asset?
6: How do you calculate the shares. Above figure is only a estimate, can be more or less?
7: One of the assets is a house. If 2 sons spent £2000 on painting the house whereby it may or may not increase the value of the house (the other 3 sons were not in a position to contribute at the time) does this give the 2 sons more ownership over the house then the remaining sons? Does that also affect the shares if the house was sold?
8: Would a solution to question 7 be that to sell the house at the value it has. Distribute the shares accordingly. Then the remaining 3 sons that couldn't contribute at the time pay their share to the other 2 brothers which would've been £400 that was spent on painting at the time?