Executor of Will

-MRS_T-

Hi


I am looking to see if anyone can offer me any advice. The executor of my mums estate is being difficult and said that if they receive money into there account via insurance company to then give to myself then this will affect there benefits? Is that right?


Also does anyone have any info you could give me on if they can do this or not legally? and what rights do I have?


Its only a small amount of money however this is not the point.


Would appreciate any info.

Gingernutty

The executor should have opened an account specifically to deal with monies from the estate and, if probate has been granted, has sworn, in person and on oath, to do so.

The executor is talking bo11ocks.

-MRS_T-

Oh I see I hadn't realised this as I was very young at the time. So if they have not done this which looks like they haven't what do you think I should do.


Any other advice greatly appreciated.

Gingernutty

If you are the sole beneficiary, the executor can direct the insurance company to pay the money directly to you.

If not, then there will have to be a brief time out, while the executor takes the grant of probate (or letters of administration) to the bank, to open a current account for the sole purpose of handling the estate monies.

The executor is under a strict legal obligation not to mix personal business with the estate's business. The idea that he/she is passing money not belonging to him/her through his/her own bank accounts is hair raising.

JReacher1

If the estate is less than £25k then it won't go through probate and the whole process is very straightforward. In this scenario its often easier to just have the money paid directly to the executer and they then pay the heirs.

You don't need an executer bank account when the inheritence is a small amount.

Gingernutty

JReacher1 wrote: »

If the estate is less than £25k then it won't go through probate and the whole process is very straightforward. In this scenario its often easier to just have the money paid directly to the executer and they then pay the heirs.

You don't need an executer bank account when the inheritence is a small amount.

But in this case, setting up temporary account for the money would have solved the executor's dilemma.

If there is any possibility of mistrust then a separate account simplifies the final accounts and prevents mingling of estate and personal monies, should anyone wish to look at them.

Mojisola

-MRS_T- wrote: »

I am looking to see if anyone can offer me any advice. The executor of my mums estate is being difficult and said that if they receive money into there account via insurance company to then give to myself then this will affect there benefits? Is that right?

-MRS_T- wrote: »

Oh I see I hadn't realised this as I was very young at the time.

How long has the executor had your money?

JReacher1

Gingernutty wrote: »

But in this case, setting up temporary account for the money would have solved the executor's dilemma.

If there is any possibility of mistrust then a separate account simplifies the final accounts and prevents mingling of estate and personal monies, should anyone wish to look at them.

I'm sure your original post said that the executor had to open an account but you appear to have edited it to remove that.

My reply was basically aimed at saying you don't have to have a separate bank account if it's a small amount of money that doesn't require probate (which I'm guessing is the OP's situation).

Gingernutty

JReacher1 wrote: »

I'm sure your original post said that the executor had to open an account but you appear to have edited it to remove that.

My reply was basically aimed at saying you don't have to have a separate bank account if it's a small amount of money that doesn't require probate (which I'm guessing is the OP's situation).

Er, no......Post #2 is still there.

JReacher1

Gingernutty wrote: »

Er, no......Post #2 is still there.

Yes but edited...

Anyway it was the this line I was responding to (in your other post).

" The idea that he/she is passing money not belonging to him/her through his/her own bank accounts is hair raising."

If the inheritance is low and probate is not needed I would not say it's at all hair raising to pass the money though your own bank account.

Shelldean

When Nan died and I dealt with it all although I had a separate account labelled 're:Nan dec'd. I couldn't pay chqs from it, so each time I wanted to pay someone I transferred exact amount to mine and wrote chq. So xxx came in and xxx went out.

Short while later I had a benefit check and they wanted to see my bank statements, and yes they did query the money in, but as I could show it going straight back out it caused no problems. Only one sticky was the payments to several gt grandchildren as it came in as xxx but went out as several smaller payments. But benefit checker just sat and added them up to show they did indeed equal the amount that had gone in originally.