Distribution of assets/probate question.
Discussion
As there are a number of inheritance questions asked here with some great replies I thought this might be a good place to ask my query.
Probate was granted eight months ago and the solicitor is refusing to distribute assets in case a claim is made against the estate. Is there any way of me finding out if a claim has been made to court? Or does a claim have to be made directly to the solicitor dealing with the estate?
In reality it is virtually certain that no claim will have/will be made by the individual.
Thank you very much in advance.
Probate was granted eight months ago and the solicitor is refusing to distribute assets in case a claim is made against the estate. Is there any way of me finding out if a claim has been made to court? Or does a claim have to be made directly to the solicitor dealing with the estate?
In reality it is virtually certain that no claim will have/will be made by the individual.
Thank you very much in advance.
Ask the solicitor (who I assume is the executor).
They will wait the 10 months because, if they distribute it early and then there is a claim, the executor is personally liable. I won't be waiting to distribute my dad's estate that I am executor of and it will be distributed as soon as the house sale completes and the closing energy bills are paid. If I become liable for anything then I will have half of the money anyway and the other beneficiary would probably pay half too (not that I'm likely to ask and not that there is anyone to claim anyway).
They will wait the 10 months because, if they distribute it early and then there is a claim, the executor is personally liable. I won't be waiting to distribute my dad's estate that I am executor of and it will be distributed as soon as the house sale completes and the closing energy bills are paid. If I become liable for anything then I will have half of the money anyway and the other beneficiary would probably pay half too (not that I'm likely to ask and not that there is anyone to claim anyway).
stemll said:
Ask the solicitor (who I assume is the executor).
They will wait the 10 months because, if they distribute it early and then there is a claim, the executor is personally liable. I won't be waiting to distribute my dad's estate that I am executor of and it will be distributed as soon as the house sale completes and the closing energy bills are paid. If I become liable for anything then I will have half of the money anyway and the other beneficiary would probably pay half too (not that I'm likely to ask and not that there is anyone to claim anyway).
A very good reason not to appoint a solicitor as an executor, unless there is no other option. At least they are not in my experience as bad as banks. Unless you are deranged never appoint a bank as your executor.They will wait the 10 months because, if they distribute it early and then there is a claim, the executor is personally liable. I won't be waiting to distribute my dad's estate that I am executor of and it will be distributed as soon as the house sale completes and the closing energy bills are paid. If I become liable for anything then I will have half of the money anyway and the other beneficiary would probably pay half too (not that I'm likely to ask and not that there is anyone to claim anyway).
zzrman said:
A very good reason not to appoint a solicitor as an executor, unless there is no other option. At least they are not in my experience as bad as banks. Unless you are deranged never appoint a bank as your executor.
A bit harsh 
They're doing nothing you wouldn't do if you were acting as executor for a will in which you were not a beneficiary. Would you distribute that estate if it were possible that someone could appear 6 months later and end up with a valid claim for 1/3 of the estate which you would be personally liable for?
Simple answer is no, you wouldn't. Nor will the solicitor. You can get insurance against some of the potential liabilities but it's cheaper to just wait.
It is a risk I am prepared to take on the will I am handling but if I was not also a beneficiary (and thus have funds to settle any claim) I would be waiting too.
stemll said:
They will wait the 10 months because, if they distribute it early and then there is a claim, the executor is personally liable. I won't be waiting to distribute my dad's estate that I am executor of and it will be distributed as soon as the house sale completes and the closing energy bills are paid. If I become liable for anything then I will have half of the money anyway and the other beneficiary would probably pay half too (not that I'm likely to ask and not that there is anyone to claim anyway).
During this 10 month period are the beneficiaries or the executor able to claim for lost interest on monies held by the solicitor ? Only reason I ask is my family solicitor is dragging his heels somewhat on a simple Will and Estate left by my mother to myself and my brother. Effectively we could have had a large amount on deposit each for a few months now at a decent rate, c4% or just over from rate searches done at the time. Doesn't seem too fair if a solicitor is able to bank monies into their business accounts and benefit from current good deposit rates to the detriment of the beneficiaries of a Will?Yex GTR said:
During this 10 month period are the beneficiaries or the executor able to claim for lost interest on monies held by the solicitor ? Only reason I ask is my family solicitor is dragging his heels somewhat on a simple Will and Estate left by my mother to myself and my brother. Effectively we could have had a large amount on deposit each for a few months now at a decent rate, c4% or just over from rate searches done at the time. Doesn't seem too fair if a solicitor is able to bank monies into their business accounts and benefit from current good deposit rates to the detriment of the beneficiaries of a Will?
Simple answer is yes, they have to pay you interest. https://www.sra.org.uk/solicitors/standards-regula...Yex GTR said:
Doesn't seem too fair if a solicitor is able to bank monies into their business accounts and benefit from current good deposit rates to the detriment of the beneficiaries of a Will?
It won't be in the firms business account. It will be in the firm's clients account or a designtaed deposit account which may, or may not, be earning a pitiful rate of interest.
stemll said:
My understanding is that, in the UK, it is normal to wait 10 months from the grant of probate. Anyone who wants to challenge a will has 6 months from the grant of probate to bring a claim and then 4 months to serve it IIRC
Ok so probate was granted in Oct 22, so when would property need to be sold not before August 23? Just trying to work out when the home of my 3 kids will be sold. I am concerned the mum will have move out of the town as she has an income of 18k and saying she is buying a 4 bed house which are around 350k and she is not a beneficiary of the will.There are 3 properties owned by the deceased he died with an estate valued at 69k (i assume thats cash) as the homes must be 750k plus.
His two children are listed of 175k each so both the rental properties will have to be sold i would expect which was my understanding prior to splitting up.
Yex, glacial speed implies at least some movement - to give you “ encouragement “ I have been involved as attorney for a relative who was left a more than modest sum of money from a friend who died exactly 6 years ago.
I won’t bore anyone with the details but suffice to say other people have challenged the will - it’s about to go to court in a push to get the original will upheld as the right will.
When / assuming my relative “ wins “ it will be fun to start the argument of just how little interest has no doubt accumulated.
I won’t bore anyone with the details but suffice to say other people have challenged the will - it’s about to go to court in a push to get the original will upheld as the right will.
When / assuming my relative “ wins “ it will be fun to start the argument of just how little interest has no doubt accumulated.
surveyor_101 said:
stemll said:
My understanding is that, in the UK, it is normal to wait 10 months from the grant of probate. Anyone who wants to challenge a will has 6 months from the grant of probate to bring a claim and then 4 months to serve it IIRC
Ok so probate was granted in Oct 22, so when would property need to be sold not before August 23? Just trying to work out when the home of my 3 kids will be sold. I am concerned the mum will have move out of the town as she has an income of 18k and saying she is buying a 4 bed house which are around 350k and she is not a beneficiary of the will.There are 3 properties owned by the deceased he died with an estate valued at 69k (i assume thats cash) as the homes must be 750k plus.
His two children are listed of 175k each so both the rental properties will have to be sold i would expect which was my understanding prior to splitting up.
If the property is not specifically mentioned then it is just part of the estate and the executor will "have power to sell it as Executor of the Estate. The sale proceeds will form part of the Estate for distribution according to the terms of the Will" (those are the exact words from my IoM Advocate and I doubt the UK rules are much (if at all) different).
If any of the property is specifically mentioned (eg. "I leave my house at #5 Somewhere Street to Surveyor_101") then it becomes the property of the named beneficiary once the will is distributed and the executor cannot sell it (and nor can the beneficiary until the will is distributed as it's not theirs until then).
In the case of my dad's house which became empty and neither of us wanted it, it was back on the market within a couple of days of probate, which only took 13 days to be granted from date of death (was never actually off the market but it had a new EA sale agreement in my name as executor).
Dad's probate was granted on 20th September and sale should complete and the estate closed later this month and no inheritance tax either on the IoM.
stemll said:
Not entirely sure I follow. If the will leaves £175k each to two named individuals and there is £69k cash then to satisfy the will, the property will have to be sold. That can only be done if the property is not specifically mentioned. Having people living it in / letting it who are not beneficiaries no doubt both complicates and delays it and you would need to speak to a solicitor.
If the property is not specifically mentioned then it is just part of the estate and the executor will "have power to sell it as Executor of the Estate. The sale proceeds will form part of the Estate for distribution according to the terms of the Will" (those are the exact words from my IoM Advocate and I doubt the UK rules are much (if at all) different).
If any of the property is specifically mentioned (eg. "I leave my house at #5 Somewhere Street to Surveyor_101") then it becomes the property of the named beneficiary once the will is distributed and the executor cannot sell it (and nor can the beneficiary until the will is distributed as it's not theirs until then).
In the case of my dad's house which became empty and neither of us wanted it, it was back on the market within a couple of days of probate, which only took 13 days to be granted from date of death (was never actually off the market but it had a new EA sale agreement in my name as executor).
Dad's probate was granted on 20th September and sale should complete and the estate closed later this month and no inheritance tax either on the IoM.
Yeh basically there are no properties mentioned but I know the bio children are not happy they don’t like the step mum.If the property is not specifically mentioned then it is just part of the estate and the executor will "have power to sell it as Executor of the Estate. The sale proceeds will form part of the Estate for distribution according to the terms of the Will" (those are the exact words from my IoM Advocate and I doubt the UK rules are much (if at all) different).
If any of the property is specifically mentioned (eg. "I leave my house at #5 Somewhere Street to Surveyor_101") then it becomes the property of the named beneficiary once the will is distributed and the executor cannot sell it (and nor can the beneficiary until the will is distributed as it's not theirs until then).
In the case of my dad's house which became empty and neither of us wanted it, it was back on the market within a couple of days of probate, which only took 13 days to be granted from date of death (was never actually off the market but it had a new EA sale agreement in my name as executor).
Dad's probate was granted on 20th September and sale should complete and the estate closed later this month and no inheritance tax either on the IoM.
They want their 175k a piece, the only property in the will mentioned was 6 watches 5 left to bio son and one to my ex bro in law,
Just says I leave my kids. 175k each. My understanding was a property would need to be sold but one was his wife’s pension. So she might be able to sell one and raise the rest. I heard it’s all soured since they can’t have their money.
The kids were foul at the funeral however they have been told lies about me but I was still invited.
alscar said:
Yex, glacial speed implies at least some movement - to give you “ encouragement “ I have been involved as attorney for a relative who was left a more than modest sum of money from a friend who died exactly 6 years ago.
I won’t bore anyone with the details but suffice to say other people have challenged the will - it’s about to go to court in a push to get the original will upheld as the right will.
When / assuming my relative “ wins “ it will be fun to start the argument of just how little interest has no doubt accumulated.
This, and the other issues highlighted on this rather eye opening thread, makes my concerns pale into insignificance. It is quite alarming how a Will can impact families and bring out to the open deep dividing issues that were never really considered issues when the deceased was alive. Fortunately the Will I am concerned about is my late Mother's and it only benefits myself and my younger brother. I also understand now that a law firm can only keep client money in one of their ring fenced business accounts and not in a decent rate attracting account for obvious reasons. As such my thoughts of an interest claim have now been put to one side as I imagine as a business account would likely to have accrued just about enough interest for a few beers currently, so nothing worth getting concerned about despite what I could have achieved in the open market.I won’t bore anyone with the details but suffice to say other people have challenged the will - it’s about to go to court in a push to get the original will upheld as the right will.
When / assuming my relative “ wins “ it will be fun to start the argument of just how little interest has no doubt accumulated.
I hope your challenge is met with success as 6 years of legal and family arguements must be rather draining for all.
Thanks Yex - I’m fairly confident now that the papers submitted to court should see the last of the challenges off - tbh they were imho never substantiated but the law apparently allows such blocks without any real foundation and then the onus falls to the beneficiaries to then act thus benefiting the legal profession even more with charges that no doubt will make for an even more entertaining argument.
My relative and the other beneficiary were both fairly elderly so neither particularly helped themselves in progressing the case as you might expect.
My relative and the other beneficiary were both fairly elderly so neither particularly helped themselves in progressing the case as you might expect.
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