Late Uncle's will query.

ipri

Hi...this is finally coming to a close. His house has been sold. A number of "legacies" have been distributed in the form of cheques. I confirmed with the solicitor's secretary that there was still "residual" money ( from house sale / savings etc.) to be distributed ( to myself & 3 others)...she said that this would be done in a short while after checks with utility companies had been consulted re.any outstanding monies to be paid.

How long will this process take ...nearly a month now..thanks .

NAR

Think the norm for this is 3 months.

ipri

what exactly does this involve....& thanks.

NAR

Checking with known companies ie utility companies and probably placing an advert to ask does anyone consider they have a legitimate claim (for goods or services) against the estate.

ipri

thanks again....could this not have been done in the previous 2 1/2 years since his death?

NAR

Possibly, but I think normally done after house sale and before final distribution of assets. Makes sense if you think about it. After this period of time it is probably just a formality.

Kore_Arabin

The adverts NAR is referring to are Trustee Act notices. They are used to advertise for 'unknown' creditors - i.e., debts of which the executors may be unaware.

If the solicitors are the executors, they would normally post these, but far earlier than at the very end of the administration! If family are executors, the solicitors should have discussed posting the notices with them, to see if they were needed.

Otherwise, there is no set period between sale of the house and distribution of the residuary estate; it just takes as long as it takes for the executors to be sure the final utility bills etc have been paid.

If a utility company is holding things up by not sending out a final bill, get the executors to chase.