Hello very sadly there is not good relationship with my two sisters for some really ridiculous reason. They have a problem with me that makes sense to no one else that knows me and doesn’t look like it will ever resolve. They are just too stubborn & like judging . The reason I would like some extra clarity is to feel a little bit secure as my parents are 77 and a 80yo and I really don’t want any tug-of-war upon their passing and carrying out the will. I have a very difficult ex. I am a single mum of two. Special needs kids because of their needs. I haven’t been able to finish my qualification and I have Neil savings but I do work a lot just retail. I bought my townhouse 15 years ago with my own money but I have a contract with my parents as they essentially gave me the loan for the rest of the house. I only had a small deposit. The title is in my name. I have been paying it off since the beginning. It should be really clearcut when my parents pass because whatever loan is left it’ll just be minus out of my share of the Estate.. my parents have set up a trust as far as I know there are three or four investment properties in there. Apparently, us three sisters are Joint executors of the will. I need Estate is divided three ways. I have a lot of anxiety that things won’t go smoothly, especially if my sisters are greedy. Recently as in the last two years each sister had a broken relationship and my parents provided some security and allow them to move into their townhouse in a really nice inner city suburb.( so each sister in a different townhouse only two minutes walk from each other. My parents did hope at least for my professional working sister that she would get back on her feet as soon as her million dollar property sold and she got the proceeds but she hasn’t paid my mum and dad back and they are still just paying half rent there’s been no contractual arrangement as far as I know. If my parents passed say in the next eight years and each sister had been living in that property all that time is there a way that they can make a claim to not be asked to sell.? if we were just to sell all the properties and divide it three ways that would be fair but I have a concern that each sister might push to stay in their home and it basically acquired it for free whereas I’ve been paying off my asset. The other idea is they could we could get a valuation and they can pay me out but I’m not sure if that would be possible because each of those properties would be worth $1 million. They just wouldn’t have that cash. One Sister is living in it with her boyfriend who is on and off but her boys are grown-up and they live with their father in another town. My other sister has two little kids at an under so I don’t know if that’s more of a claim that she couldn’t be kicked out that it’s her home.???It’s just looking like it could be unfair because they have both come into quite a bit of money in the last four months one with a TPD payout and has bought a brand-new car and the other sold her million dollar home ( after marriage breakup) and now got the proceeds, but they haven’t paid anything to my parents and presumably don’t look like they’re saving to go anywhere else
my finances have always been on the fence as I only have a award wage job and two special needs kids . One moderate intellectual disability. My ex is always in debt so I hope that I can provide some security for my kids and maybe I could rent to my daughter if I acquire a property and put another tenant in it or her brother.
last question one thing hopefully will be simple which would be when both parents pass. They have their principal residence is a nice open plan home in an over 50s resort. We probably would agree to sell that and split the money. It’s probably worth 900,000. Capital gains tax if we sold ? If I moved into it what’s the implication. ?
thanks so much
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