Am I liable as an Executor for a late bill.

Be_Happy

I remember when dealing with my mother's estate that all the information given to executors emphasised that you should not hand out any bequests from the will for 6 months to ensure that all debts had come in. It was also said that if you did pay out before 6 months then you, the executor, would be personally liable for any late creditor demands.

The notes went on to say that if anyone demanded their share of the estate before 6 months then a solicitor should deal with this. (I think they had to sign something to say that they would share the cost of any further debts on the estate)

tigtag02

Be_Happy wrote: »

I remember when dealing with my mother's estate that all the information given to executors emphasised that you should not hand out any bequests from the will for 6 months to ensure that all debts had come in. It was also said that if you did pay out before 6 months then you, the executor, would be personally liable for any late creditor demands.

The notes went on to say that if anyone demanded their share of the estate before 6 months then a solicitor should deal with this. (I think they had to sign something to say that they would share the cost of any further debts on the estate)

Thanks - I got the 2 months from the direct.gov website and The Gazette's paperwork says 2 months and day.

I'm confused now. I wonder if as an executor (ie there was a will) and 'my deceased' person died intestate is what makes the difference.

I think I need to do more research and I'm loath to use a solicitor as I have had a recent bad experience with one!!

Thanks for your input though

tt

dzug1

tigtag02 wrote: »

Sorry to jump in on your thread but can I ask a question here. I am about to obtain probate myself and have no clue about what debts there were, am I correct in thinking that I have to advertise in The London Gazette and if no one makes a claim in 2 months and 1 day I can distribute to the beneficiaries?

Thanks in advance
tt

Not sure about the exact period, but yes. A local paper as well.

It doesn't mean that any late debts will not be claimable, just that the creditors cannot pursue you personally as executor but must chase the beneficiaries

tigtag02

dzug1 wrote: »

Not sure about the exact period, but yes. A local paper as well.

It doesn't mean that any late debts will not be claimable, just that the creditors cannot pursue you personally as executor but must chase the beneficiaries

Hmmm, I'm also the beneficiary!!

Do you know how long the creidtors could then claim?

tt

dzug1

tigtag02 wrote: »

Hmmm, I'm also the beneficiary!!

Do you know how long the creidtors could then claim?

tt

Same as any other debt - 6 years

hardpressed

tigtag02 wrote: »

Thanks - I got the 2 months from the direct.gov website and The Gazette's paperwork says 2 months and day.

I'm confused now. I wonder if as an executor (ie there was a will) and 'my deceased' person died intestate is what makes the difference.

I think I need to do more research and I'm loath to use a solicitor as I have had a recent bad experience with one!!

Thanks for your input though

tt

I'm a bit confused by what you say, you say there was a will yet the person died intestate, they can't be intestate if they made a will.

tigtag02

hardpressed wrote: »

I'm a bit confused by what you say, you say there was a will yet the person died intestate, they can't be intestate if they made a will.

I never said there was a will - I said from the start that they died intestate :rolleyes:

cajef

tigtag02 wrote: »

I said from the start that they died intestate :rolleyes:

If they died intestate then you are not a sole beneficiary and you cannot be an executor, the rules of intestacy apply.

http://www.desktoplawyer.co.uk/dtl/index.cfm?event=base:article&node=A76045BD76303

tigtag02

cajef wrote: »

If they died intestate then you are not a sole beneficiary and you cannot be an executor, the rules of intestacy apply.

http://www.desktoplawyer.co.uk/dtl/index.cfm?event=base:article&node=A76045BD76303

How can I not be a sole beneficary?

There is no will to be an executor of - as previously explained I am applying for probate in order to be the administrator of the estate!

Savvy_Sue

It may be more accurate to say that you may not be sole beneficiary, and you need to look carefully at the rules of intestacy to check that you are.