Forum Replies Created
Thanks Rob
The two things that bother you bother the hell out of me.
Behaviours tell the story on a persons charater.
When my brother had his accident we had his second car at our place, it was the 1st car he bought when young and he loved it.After a while the family friend insisted it be sold. I pleaded for an extra 3 weeks as if I sold it how it was I would be lucky to get $500-$600.But with the extra time I could get things fixed and get a road worthy etc and get over $2000.
His exact words were "well why dont you buy it for $600 and make a bit of money yourself. This is while my brothers in ICU fighting for his life. My mother got the extra time and I got $2300 for it but that still leaves a bad taste in my mouth and I can no longer look at his actions in an innocent manner(I am aware that this my be distorting my perspective hence some help).Thanks again
sorry not sure what happened just copied and pasted
First off thanks to you both.
Rob, The power of attorney did cease on my brothers death(though he may have continued to manage things. In no way do anyone of us wish to contest my brothers will/wishes, he wished his daughters to be the benificiaries to his estate. His thoughts were that with a house here suppling a small income and the option for his girls to relocate here if they ever choose to go to university and have free accomodation.
Sister in law did appoint him as the administrator, this is an excert from the relivant email-
As you are
his next of kin, you need to think about who handles his estate.We have been advised by the
solibitor that this
matter could be handled by the Public Trustees or you could nominate ……….. to
continue to manage the estate.
Public Trustee will incur professional fees for accountancy ,legal and all clericalwork. ………… would be
entitled to be
paid for any costs incurred.This would be the most economical however the decision would be
yours.
Yuko I dont think really understood that she had options besides what was given to her.
Terry the estate hasnt been would up in fact the house has stood vacant since my brothers accident, except the periodic visits to keep the insurance valid. This was also a sticking point for most of my family as the house could have been rented for at least $400-$450pw. It was also offensive to some of us that his daughter would stay there at times.
For my self I'm not interested in suing this family friend unless he has been ripping my nieces off delibrately. I would like Yuko to be aware she has options in regard to the handling of the estate.
If you could pm me your email address and fee structure I would appreciate it.
Thank you
Thanks for the reply IP
I believe he did, but not sure if it was legal ie-witnessed( We were told everything would go to his children and being happy with this excepted it). It is only during my trip to japan that I found out the family friend had been made the admistrator and the girls and her had recieved nothing as yet.
The house has been left empty for almost 5 yrs and believe the reason given to my sister in law was that with the repairs needed(they cant have been extensive as it was practicaly a new house) and the insurance she would have to pay it wouldn't have been worth it. When I explained that even if it cost $5000(estimate, which I said I would pay) plus insurance, fees and other stuff she would still have made $10000 in rent on the 1st yr than more every year after.
She was a bit confused/upset and said no-one had explained that to her(just told it would cost her) money to rent the house.Yes they lived in the house together before the separation with their two young girls. They started to have problems which escalated into a separation, my brother let her take the kids and go back to japan as she had said she she had nothing to live for without them.
My brother passed away just over 3 yrs ago.
I am not sure if she was an australian citizen, I will have to ask?
My sisters and I are concearned that my brothers childern are being ripped off and wish to be able to give inforned options to our sis in law. Just as importantly give them in an easy to understand manner.
How can she replace the administrator(if she chooses to)- what paperwork, do you need to give the current administrator notice etc
How do you get all the financial history audited and what sort of cost, I know how long is a piece of string but I would like a ballpark figure if I'm going to offer to pay for the piece of mind.
Though I'm new to PI and have considerably less real estate experiance than everyone here I am from north queensland and have to say that cairns is one of the last places I would choose to invest in.
It has a tourism driven economy that is very connected to how high the aus $ is trading and how healthy the home countries economy is. Tourism driven places are in trouble on two fronts.
The pay rate for locals is low compared to everywhere else hence my moving to WA. Everyone hates them but I seem to see a definate trend around australia between pay rates and the strength of the union ie little to no union in nth queensland very low pay rates for the general public.
This has a direct effect on the local real estate market by pushing and holding down the rental price. Last I had heard about cairns was that the vacancies where high the prices were low(both to buy or rent).I agree with ten burner, if you dont live there I wouldnt be investing in a boarding house.
