Difficulties with co-executor of will

I really think that unless you can account for almost every pound spent on behalf of your GF to your brother's satisfaction, you should take the stance that the money is in your name and you don't need to explain yourself to him. This was an arrangement between you and your GF. There is no legal position for this money to be accounted for as part of the estate.

If you start trying to account for it and can't explain it all, this could drag on for years.

I can only believe that the 'technical' answer to this is as follows:

1. The money was not yours (as you admit) since it was passed to you to 'look after'. The fact that it was invested in your name is not a big issue - further proven by your disclosure.
2. It is the legal duty of executors to trace the entire estate. You have disclosed freely that of the £20K passed over, and you declare that £10K is left, but have no audit trail.
3. Assuming all other assets have been traced satisfactorily, it remains for the joint executors to satisfy themselves to all reasonable limits that £10K is the legitimate remaining total - and that there is not another £10K (possibly some interest) hiding away somewhere.

And now the 'practical' situation as I see it.

As executors, you should keep the documentation of how the estate was valued and distributed. I believe that a 'ball park' reconciliation is surely possible? Copies of statements. You gave £5K (plus) away. Surely you know to whom, and the recipients can confirm this in a note? And surely you can remember (or guess) in fairly round figures how the money might have been spent.

So why not attempt to write down a form of reconciliation - rough dates and amounts - that would balance to the amount you have remaining. It is only common snese (and good administration), after doing all of that to the best of your ability, to finish with a signed statement.

"I, F W Open, declare that Grandfather Open asked me to look after £20K and to make various disbursements, which have been documented roughly. I confirm that all documentation has been destroyed, but also confirm that the amount of £10,XXX [exact amount left] is the complete value of funds remaining, and that all other funds, and interest, have been spent entirely at the instructions of.... or for payment of.... solely in connection with G/Father..."

I don't think anyone could criticise a will completed in this way.

Of course that is not to say that people who know about this (including your brother) won't have a perfect right to be 'suspicious'. But you know that. And the level of suspicion can be minimised if you can reconstruct at least some of the audit trail, which will obviously help to dampen suspicion about the others, as long as they look 'reasonable'.

I have done similar myself, although in my case I am passionate about documentation and can prove anything. [My father - quite illogically - had very little savings but was paranoid that his pension would be cut down if they found this £500! I invested it in my own name, in a high interest passbook account and of course, on his death, told my brother about it, put it into the estate along with the passbook in the 'documents'. I am also looking after a rather substantial sum for another relative currently. The reasons are not similar. But relates merely to the fact that this relative cannot/does not use the Internet. Thus we have set up Internet accounts [U]in his name[/U] and in both cases, money can only be transferred to/from his [U]current[/U] account - which is not an Interent account and I cannot access it. So it remains officially and firmly 'his' money, but I do the 'Internet Management' on his behalf. Not illegal (as far as I know), and of course I keep printed audit trails/statments etc.]

Any money spent prior to death has absolutely nothing to do with the brother. It was an arrangement specifically made between the parties involved. Any money spent prior to death does not need to be accounted for. The responses here have become unnecessarily complicated.

Clifford_Pope wrote: »

The OP said:

"My Grandfather gave me £20k to “look after” for him "

That's either a loan or a trust. Either way it's an asset belonging to the GF which the executors have a duty to trace and account for.

If that was the case you would be correct. But its not. You omitted the fact that she was given the money to pay bills and to make gifts all prior to death. Its only the balance remaining that forms part of the estate but she is required to note any gifts given within the last 7 years as part of the IR205 which accompanies the Probate application and the R27 Form which completes the executors duties. However, any money used for her grandfather's EXPENSES prior to death is nothing to do with anyone except the grandfather and her grandaughter.

All along I have presumed the original poster would know who had been gifted money and for that she does not require bank details but needs to note the amounts given on the above mentioned forms. If the brother does not believe his sister then he needs to check with the recipients.

Why are the replies so complicated?