Funeral costs

Tttccc_2

I need some advise with funeral costs. The estate is made up of very small bank accounts which have been left to me, along with a share of the house. I am the next of kin and the executor. These bank accounts will cover the cost of the funeral, but there is also a bank account which has a lot more money which has been left to a friend. Once the expenses have been paid out of the estate, do I pay the friend all the money in that one bank account which has been left to them, leaving nothing left for myself or siblings, or can I take the full cost of the funeral costs out of that bank account and give them what's left over. I'm not sure where I stand, does it have to come out of my own personal inheritance, as I am the executor?

I hope someone can help. Thanks.

Mojisola

It depends on the wording of the will.

Is each account mentioned individually and left to specific people?

Is the one account left to the friend while the contents of the others come under the general inheritance?

Tttccc_2

Hi, one bank account number is left to the friend, everything else is left as residue of estate.

Mojisola

Tttccc wrote: »

Hi, one bank account number is left to the friend, everything else is left as residue of estate.

In that case, all the debts like funeral expenses will come out of those accounts. If the contents of these are enough to cover the bills, the friend will receive the contents of the named accounts without any deductions.

It doesn't come out of inheritance because you are the executor but because of the wording of the will.

Tttccc_2

Ok, that's what I'll do then. Thank you

nom_de_plume

Tttccc wrote: »

The estate is made up of very small bank accounts which have been left to me, along with a share of the house.

Have the small bank accounts been left specifically to you or are they left as part of the residuary but to you? The wording of the will is very important and I am just checking you fully understand the definition of residuary.