I am assisting with an estate where the deceased was a life tenant and his late wife’s Will stated the building insurance should be in the name of the life tenant and the Trustees.
Now that the life tenant has died, is this clause still in effect?
I ask as the Trustees - whom have never shown an interest in the property insurance for the past ten years - are insisting it is the PRs duty to put in place insurance in the Trustees names, and not just have their interest noted.
Any thoughts would be useful on how to approach this.
Just tell them no?
Presumably the terms require the life tenant to be party to the insurance as a condition/term of his occupation, which has now ceased. Plus a will is not a contract, it cannot impose obligations on others.
It all depends on the exact wording but I would have thought a simple refusal might suffice.
(I assume H didn’t own a share of the property outright)
As the life tenant’s interest terminated on their death, responsibility for the property is now with the trustees.
I can see no legal basis under which the PRs of the deceased life tenant might have an obligation, let alone a duty, to insure the property.
I suggest the trustees be told to seek their own legal advice on the point from an experienced trust practitioner if they wish to continue the discussion.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals
My apologies, the Trustees hold half the property under Mrs’ Will trust and the deceased owned his own half share.
As I understand it, the PR’s are now the trustees of the half share the deceased owned.
The life tenant owned half the property.
A rather material factor, meaning previous comments are redundant.
On that basis the PR’s of the deceased life tenant are also to PRs of the sole trustee of land they are responsible for insuring the property and the trustees of the deceased “settlor” are correct in requiring the PRs of the life tenant, as the PRs of the sole trustee of land, to insure the property.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals