No will, family fued, missing money?

Errata

At the end of the day, the Administrator (the brother) is required to carry out his responsibilities accordimg to the law. That includes providing, when the estate is finalised, a set of estate accounts for all beneficiaries.

Is that correct? Is it a legal requirement the Administrator signs up to?

madbadrob

Errata wrote: »

Is that correct? Is it a legal requirement the Administrator signs up to?

Anyone administering an estate as to administer it as set down in probate law, by taking on the job you sign up to the law

Rob

madbadrob

Sue,

It really doesnt matter about the family feud thats immaterial here. The fact is from whats been said the rules regarding probate have been broken. Fundamentally in allowing the Step grandfather to remain in the house when technically it should have been sold to liquidate the funds for paying the children. This never happened and nor did the OP's father agree to this. The OP cannot act on what has gone off because they are not the legal beneficiary but their mum is and she needs to make the representation and I believe she will be doing after the new year

Errata

madbadrob wrote: »

Anyone administering an estate as to administer it as set down in probate law, by taking on the job you sign up to the law

Rob

I understand that. My question was, is the Administrator required by law to "That includes providing, when the estate is finalised, a set of estate accounts for all beneficiaries." As this is something I have never come across, either when an estate has an Administrator or Executor(s).

RAS

Errata wrote: »

"That includes providing, when the estate is finalised, a set of estate accounts for all beneficiaries." As this is something I have never come across, either when an estate has an Administrator or Executor(s).

Absolutely - all beneficiaries should be sent a copy of the accounts and be required to sign them to indicate their acceptance of the distribution.

As an administrator would never do it any other way as it prevents people coming back later to challenge the distribution, which the executor/administrator needs like a hole in the head

Errata

RAS - I understand what you've posted, but is it a legal requirement? If it is I've broken the law several times, and so have some of my relatives

getmore4less

AIUI it is definately not ALL benifitiaries.

Mrs smith who livednext door that is left £5 has no need to know.

Tuesday_Tenor

"That includes providing, when the estate is finalised, a set of estate accounts for all beneficiaries."

Errata wrote: »

Is that correct? Is it a legal requirement the Administrator signs up to?

Sorry, I think I could have been a bit more accurate. I'm not a lawyer but as I understand it:

1) Final estate accounts should be drawn up by the Executor(s) [or Administrator] as these are the legal record that the estate has been distributed according to the will [or rules of intestacy]. The Probate Office could ask to see these records if there are any queries, or as a random check. (They are not, however, routinely filed anywhere other than with the Executor(s)).

2) All MAJOR beneficiaries should receive a set of the Estate Accounts so that they can see (and query if necessary) the value and distribution of the Estate. It would be prudent for the Executor to ask all such beneficiaries to sign an acceptance of the distribution, so that they cannot query it at a later stage.

madbadrob

When carrying out administration of intestate estates we have to provide each heir with the cheque a complete set of accounts so that they can see who received what and that they received the correct amount. Where a will is concerned this would only be required to show what debts were taken from the estate that led them to not receiving the amount prescribed in the will. Would you agree to any monies that you didnt know you were getting the correct amount?

Rob

Errata

Tuesday_Tenor wrote: »

"That includes providing, when the estate is finalised, a set of estate accounts for all beneficiaries."


Sorry, I think I could have been a bit more accurate. I'm not a lawyer but as I understand it:

1) Final estate accounts should be drawn up by the Executor(s) [or Administrator] as these are the legal record that the estate has been distributed according to the will [or rules of intestacy]. The Probate Office could ask to see these records if there are any queries, or as a random check. (They are not, however, routinely filed anywhere other than with the Executor(s)).

2) All MAJOR beneficiaries should receive a set of the Estate Accounts so that they can see (and query if necessary) the value and distribution of the Estate. It would be prudent for the Executor to ask all such beneficiaries to sign an acceptance of the distribution, so that they cannot query it at a later stage.

Thank you very much. It appears that the above is a prudent action by the exucutor or administrator, not a legal requirement.
Madbadrob's post doesn't make clear who the "we" is he refers to, so I shall take your response as the correct one, not his.