Beneficiaries' right to see estate accounts

Mojisola

dd1976 wrote: »

Probate has yet to happen. I'm assuming once this has happened, we will then be given a reading of the will

Gathering all the family together to "read the will" only happens in old films.

G6JNS

dd1976 wrote: »

Ok thanks for your feedback. Probate has yet to happen. I'm assuming once this has happened, we will then be given a reading of the will unless I am given a copy before then by my stubborn aunt. I contacted the lawyer and they said that the will is nothing to do with them, that's up to the executor to deal with. They are only dealing with the trust. So need to hold off and bide my time!

Thanks for all your help.

Will reading only happens in old films. It is usually portrayed as taking place after the funeral. I have never heard of it happening in modern times. What you can do is leave a standing search with the Probate Office so that you will get a copy as soon as the will is admitted to probate. It costs ten pounds.

Details on this page.

https://www.gov.uk/wills-probate-inheritance/searching-for-probate-records

John_Pierpoint

It is interesting that you say "the trust" is completely separate from the will, as while the executor is administering/executing the will, he is acting as a trustee.
The trust can most probably be kept secret from the beneficiaries.
Partly because the trustees don't want to be continually badgered by the beneficiaries.and partly because keeping it separate means that every Tom, !!!!!! and Harry plus newspaper reporters cannot crawl over it at the probate office
Sometimes a will may say something like "I leave £100,000 to my dear friend Harry Smith as he will know what to do with it". - Which may translate translate into "my mistresses love child needs to complete his education" and Harry will be the trustee for the young "trusterfarian"..

RedDaemon

My father and I were the beneficiaries of an estate. I have received my portion, my father's went into a trust for him (this is how the will was outlined). Once he dies, I receive the money that's left. Do I have a right to ask for an accountancy of the estate to see what has been spent, so that funds aren't unnecessarily spent. I ask this because my father is mentally incapacitated. The money he receives from the govt pays for his care. The will stated his half was to go into a trust that accrued interest and the interest was to only be used. However, I have found out that the executors are wanting to set up a direct debit of his funds to pay for something. What that something is---I don't know!

John_Pierpoint

Technically it sounds like your father is the beneficiary of an interest in possession trust and you are the "remainderman".

If your father is "away with the fairies", who has power of attorney for him ?
Obviously they have the right to see an account annually.
As remainder man of probably short duration, you too would have a right to see what is happening BUT having a right and enforcing it is another matter. Softly softly cachee monkey !
There is always something of a conflict of interest in these situations and presumably whoever left your father a life interest did so to protect the inter generational value of the capital ?
So I cannot really comment on your personal circumstances but a quick Google turned up this link which seems relevant.
http://clients.squareeye.net/uploads/3sb/events/20110401_moeran.pdf

Deanna_1986

hello there,

Just after a bit of advice - my grandmother passed away a year ago and in her will she left everything to her four children.

Three of them (one being my father) are deceased and one is still alive.

The remaining son who is still alive has been dealing with everything (we are not close and don't have a lot of contact)

He text me to say that my fathers share of the will will be shared out between his four children.

I have received an email from him today asking for my bank account details so that when the time comes he can transfer what is owed to me?

Am I right in thinking that I should receive some form of breakdown from the solicitor it from him. To have him just transfer the money with documentation as to what I have been left is a bit odd.

I don't know much about this sort of thing as I
Young so any advice you an give me would be great.

Many thanks