The original quizmaster from “University Challenge” (a late night trivia show on BBC) Bamber Gascoigne accidentally inherited the palatatial estate – “West Horsley Place” with over 50 rooms, he now is selling over $20 million in his own assets to revitalize the countries heirloom. This is more common than you may think even in South Florida as you may inherit property that costs a ton to maintain. Did you inherit a horse ranch in northern West Palm Beach? Bad news, you also inherited the fees to maintain it, and without proper planning you could lose the asset.
- Bamber Gascoigne was a BBC legend for over 25 years and just found his elderly aunt had willed himt he 50 room manor which dates back to the 11th century as a home for the aristocrats of Britain.
- The manor has fallen into disrepair with the entire upper floors being shut down due to dryrot and all of the historical heirlooms upstairs have been recovered and are now part of the auction of goods to help restore the property.
- Now Gascoigne is also selling over 3 million worth of jewels and other treasures, even some which were gifts from the royal family.
- Gascoigne now 80 says he is committed to restoring the property.
Whats this all got to do with Florida Probate? Believe it or not accidental inheritances happen all the time. Fox has just released a new show titled strange inheritances cataloguing some these insane stories, who knows if your South Florida testator will become a subject of one.
- You are responsible for all the expenses of the inheritance. Just like the protagonist here, you have to pay for it all or people can sue you as they would the regular owner for the money and put a lien on the property.
- You are responsible for the taxes. The government is not going to care that you just inherited the property, they tend to want their money as soon as it is due and the late fees are going to keep accruing no matter what.
- You may not be aware you are an heir. Dont forget even millionaires die sometimes intestate and you may not be aware the assets you are coming into. If you experience a windfall large inheritance its wise to consult an experienced asset manager and to prepare to get the maximum life out of the asset. Talk to an experienced Palm Beach Probate litigator today.