Estate Money and expenses

jimeng

Hi,

I have a few questions.

My wifes grandmother passed away and has two sons. One is left her flat + contents and the money if her account is being split 50/50.

So what expenses are allowed to be taken out of the money in her account. She has the money in another account for the funneral.

Would "clearing the flat" and getting it ready for sale be allowed to be deducted from the money she had in her account.

What sort of expenses can be taken from this amount. Does this mean the money from the sale of the house cannot be used for any expenses?

Thanks for any advice.

pollypenny

The administrator of the estate can claim for all legitimate expenses.

House clearance by a professional is fine, but not the hours the family will probably have to put in,

Mojisola

jimeng wrote: »

My wifes grandmother passed away and has two sons. One is left her flat + contents and the money if her account is being split 50/50.

So what expenses are allowed to be taken out of the money in her account. She has the money in another account for the funneral.

The executors should keep a record of everything they have to spend in connection with the estate - phone calls, mileage allowance, house clearance, paying any debts, etc. Lay executors can't charge for their time.

Regarding the flat, it depends on exactly how the will is worded, ie whether is the son being left "the flat" or "the value of the flat after the costs of selling are paid" or whatever.

g6jns_2

jimeng wrote: »

Hi,

I have a few questions.

My wifes grandmother passed away and has two sons. One is left her flat + contents and the money if her account is being split 50/50.

So what expenses are allowed to be taken out of the money in her account. She has the money in another account for the funneral.

Would "clearing the flat" and getting it ready for sale be allowed to be deducted from the money she had in her account.

What sort of expenses can be taken from this amount. Does this mean the money from the sale of the house cannot be used for any expenses?

Thanks for any advice.

If the flat is left to the one son then he has to pay any costs of cleaning etc if he wants to sell it. Reasonable expenses for dealing with the estate come out of the money but lay executors cannot charge for their time.

dsab

jimeng wrote: »

Hi,

I have a few questions.

My wifes grandmother passed away and has two sons. One is left her flat + contents and the money if her account is being split 50/50.

So what expenses are allowed to be taken out of the money in her account. She has the money in another account for the funneral.

Would "clearing the flat" and getting it ready for sale be allowed to be deducted from the money she had in her account.

What sort of expenses can be taken from this amount. Does this mean the money from the sale of the house cannot be used for any expenses?

Thanks for any advice.

If one of the Sons is left the flat, then any expenses relating to it (clearing and cleaning, or any other expenses relating to selling the flat) should be paid directly by that Son, and should not be coming out of the Estate,

troubleinparadise

What sort of expenses can be taken from this amount. Does this mean the money from the sale of the house cannot be used for any expenses?

Her account should be used to fund any debts (post probate) - utilities, credit cards, whatever else she may have owed money for, and for the expenses the executors might incur as mentioned before.

You mention "house" here, when before you referred to a "flat" having been left to one of her sons. I assume that is a typo; whatever, from what you have written the flat and contents pass directly to that son as beneficiary and the sale proceeds (less clearing and selling costs) are then his alone, and do not return to Grandmother's estate.

BobQ

jimeng wrote: »

Hi,

I have a few questions.

My wifes grandmother passed away and has two sons. One is left her flat + contents and the money if her account is being split 50/50.

So what expenses are allowed to be taken out of the money in her account. She has the money in another account for the funneral.

Would "clearing the flat" and getting it ready for sale be allowed to be deducted from the money she had in her account.

What sort of expenses can be taken from this amount. Does this mean the money from the sale of the house cannot be used for any expenses?

Thanks for any advice.

Has someone applied for Probate? If not you cannot do anything with the money or sell the house until it is granted. The bank may agree to release funds for the funeral expenses.