Beneficiary of a Will

[rolex]

Solicitor (executor) says I have to wait 10 months before a payout. They say that's the time frame for anyone wanting to contest the will. They say I can get the money earlier if I take out an insurance policy. Does this make sense? Value of estate is around £235,000. How much would a policy cost?

[PurpleMoonlight]

6 months from probate according to this.

https://www.wrighthassall.co.uk/expertise/contesti...

[James TiT]

How many executors have been named in the will?

[rolex]

James TiT said:

How many executors have been named in the will?

Myself and the solicitor

[James TiT]

Interim partial payments could be made.

[rolex]

Thanks James, Would the solicitor be obliged to pay interest on that money?

[Sheepshanks]

PurpleMoonlight said:

6 months from probate according to this.

https://www.wrighthassall.co.uk/expertise/contesti...

So 10 mths altogether is about right. There's a school of thought that it's unseemly to do it all too quickly anyway.

[AndrewCrown]

rolex said:

Thanks James, Would the solicitor be obliged to pay interest on that money?

From my experience if its in a client call account.. instant access short term... no interest... for longer periods I think solicitors are obliged to look after it as if it was there own, thefore some interest may be payable.

And 10 months is about right