Paying beneficiaries of a will ?

g6jns_2

Corona wrote: »

My Mum died recently. She left a will - leaving all her estate to me (a small bungalow and a small amount of savings) and named me as her executor. I've now been able to get access to her bank account and, after the funeral is paid for (she was very specific about what she wanted and that it should be paid out of HER money), there will not be enough money left to pay the small bequests she set out in her will (mainly charities).

Does this mean that I will have to pay them myself or sell the bungalow?

Sorry if this sounds a bit mean (I loved my Mum very much). It's just that I'm struggling financially and I know that the bungalow will need work doing to it (that she has been putting off) which I will need to pay for (not sure how) and then had hoped to live in it.

Thanks

You need to get professional advice. These is a strict order of precedence for paying. The executor cannot pay anything until they have probate.

g6jns_2

DigForVictory wrote: »

My condolences & best wishes with your duties as executor.

While an executor must not act with "undue delay", I think you could allow yourself up to a couple of years to pay the bequests, as that would be an understandable timeframe for sorting & selling the bungalow.

If you want to keep it, then save up & pay the bequests. You may want to write to them & let them know the bequest is coming but you have the estate to sort. Their replies may help you figure which ones to pay first?
(I'd write as The Executor as otherwise you may find yourself on a mailing list for decades.)

An executor is expected to deal with the estate within a year maximum unless there are exceptional circumstances. Get professional advice.