Three Executors and small estate

hundredk

Hello

I am one on three next of kin executors on mum's small estate. Unlike the other two executors I live about 90 minutes away but would like to be fully involved in carrying out mums wishes rather than it just happen because the other two live nearer.

I haven't seen the will yet, or at least can't remember the contents as it was made years ago. As I recall it's in the house which jointly belongs to all 3 executors. As such the estate is quite small so no probate, it's more about wishes and sorting contents etc.

I have a few queries and probably more to follow:

If there is disagreement on what to do with property and carrying out wishes, ie the type of stuff that only has sentimental value, is it as simple as executors vote and go with majority?

Is there a time limit to start actioning the will?

Can one executor check accounts etc even if this has already been done? Does this cost or does executor go to bank etc with death certificate and ID and they are made available by the bank?

Thanks

g6jns_2

hundredk wrote: »

Hello

I am one on three next of kin executors on mum's small estate. Unlike the other two executors I live about 90 minutes away but would like to be fully involved in carrying out mums wishes rather than it just happen because the other two live nearer.

I haven't seen the will yet, or at least can't remember the contents as it was made years ago. As I recall it's in the house which jointly belongs to all 3 executors. As such the estate is quite small so no probate, it's more about wishes and sorting contents etc.

I have a few queries and probably more to follow:

If there is disagreement on what to do with property and carrying out wishes, ie the type of stuff that only has sentimental value, is it as simple as executors vote and go with majority?

Is there a time limit to start actioning the will?

Can one executor check accounts etc even if this has already been done? Does this cost or does executor go to bank etc with death certificate and ID and they are made available by the bank?

Thanks

Are you saying the will leaves the house to the three executors? The need for probate depends on what the total value is. Some banks will not release funds without probate. As a general rule executors are expected to complete probate within a year but if the will is simple it can be done much quicker.

getmore4less

hundredk wrote: »

Hello

I am one on three next of kin executors on mum's small estate. Unlike the other two executors I live about 90 minutes away but would like to be fully involved in carrying out mums wishes rather than it just happen because the other two live nearer.

I haven't seen the will yet, or at least can't remember the contents as it was made years ago. As I recall it's in the house which jointly belongs to all 3 executors. As such the estate is quite small so no probate, it's more about wishes and sorting contents etc.

I have a few queries and probably more to follow:

If there is disagreement on what to do with property and carrying out wishes, ie the type of stuff that only has sentimental value, is it as simple as executors vote and go with majority?

Is there a time limit to start actioning the will?

Can one executor check accounts etc even if this has already been done? Does this cost or does executor go to bank etc with death certificate and ID and they are made available by the bank?

Thanks

If there is a will who are the named executors what does the will say about majority if and odd number?

hundredk

g6jns wrote: »

Are you saying the will leaves the house to the three executors? The need for probate depends on what the total value is. Some banks will not release funds without probate. As a general rule executors are expected to complete probate within a year but if the will is simple it can be done much quicker.

No the house has been owned by the 3 executors for several years and the estate is <£5k.

hundredk

getmore4less wrote: »

If there is a will who are the named executors what does the will say about majority if and odd number?

As I recall from seeing the will years ago (no codcils since) the named executors are person A, B C and I'm C. So an odd number of executors but no mention of whether majority decide if there's a disagreement but wondered if this is what would/should happen in the event.

BobQ

hundredk wrote: »

As I recall from seeing the will years ago (no codcils since) the named executors are person A, B C and I'm C. So an odd number of executors but no mention of whether majority decide if there's a disagreement but wondered if this is what would/should happen in the event.

Re banks, most banks will pay out to one of the executors for such a small sum. They will ask that person to sign a letter of indemnity that they will repay the money if the person does not divide the sum iaw the will. Clearly about half of this will go on the funeral.

Regarding personal items you need to see the will. If it says sell all my property and divide the money equally that is what the three of you must do. If there are specific bequests to individuals these must be followed.

If there are no instructions you need to collectively divide the property by some fair means or agree to sell things. Maybe do an inventory of the things that you all want to keep in the family and then take turns picking them? But there may be no legal solution to the problem if the will just says "divided equally".

hundredk

BobQ wrote: »

Re banks, most banks will pay out to one of the executors for such a small sum. They will ask that person to sign a letter of indemnity that they will repay the money if the person does not divide the sum iaw the will. Clearly about half of this will go on the funeral.

Regarding personal items you need to see the will. If it says sell all my property and divide the money equally that is what the three of you must do. If there are specific bequests to individuals these must be followed.

If there are no instructions you need to collectively divide the property by some fair means or agree to sell things. Maybe do an inventory of the things that you all want to keep in the family and then take turns picking them? But there may be no legal solution to the problem if the will just says "divided equally".

I have a copy of the will now and it does name 3 executors as above. The various paragraphs state things like 'my executors may at their absolute discretion' <carry out certain duties>. We're not in agreement as to how some of those duties should be carried out, not least the financials and drawing up estate accounts. Do all executors have to see and agree accounts are accurate and what should happens with the accounts if there is no probate? Same question if probate is applied for?

I'm concerned about there being complications with finances in the past and not having access to any information now. I believe I could appoint a solicitor to act on my behalf but that will obviously be costly. I haven't a got a copy of the death certificate yet either. Any thoughts on how to proceed?

Thanks

g6jns_2

hundredk wrote: »

I have a copy of the will now and it does name 3 executors as above. The various paragraphs state things like 'my executors may at their absolute discretion' <carry out certain duties>. We're not in agreement as to how some of those duties should be carried out, not least the financials and drawing up estate accounts. Do all executors have to see and agree accounts are accurate and what should happens with the accounts if there is no probate? Same question if probate is applied for?

I'm concerned about there being complications with finances in the past and not having access to any information now. I believe I could appoint a solicitor to act on my behalf but that will obviously be costly. I haven't a got a copy of the death certificate yet either. Any thoughts on how to proceed?

Thanks

Is there a property involved? If so probate is almost essential all three executors have to agree the accounts. You may need to bang some heads together. Executors really need to play by the rules. You might remind the others thither must, by law, put there duties as executors before personal interest.

hundredk

g6jns wrote: »

Is there a property involved? If so probate is almost essential all three executors have to agree the accounts. You may need to bang some heads together. Executors really need to play by the rules. You might remind the others thither must, by law, put there duties as executors before personal interest.

The property is in trust as tenants in common so wont be inherited from the will.

I've reminded one of the others as you've suggested but it's difficult as they reside in the property.

Trying to get financial info if proving difficult, I believe it's possible to enquire about what benefits were paid and the accounts they were paid into? If anyone has any info or links to this would be appreciated.

Thanks

getmore4less

What are you having difficulties with?

The house seems to be in your names already so is not directly relevant to the administration of this estate.

If someone is already living in the house then the contents needed to live there are in practice part of the house.

Was mum living in the house?

What else is there?

What are you having disagreements over? are you sure it is not you that needs to review your views.


Take a week off work and get close if long distance communications is not working.

dzug1

hundredk wrote: »

The property is in trust as tenants in common so wont be inherited from the will.
Thanks

So how did this trust come about? Who set it up and how? It looks as though it predates your mother's demise.