Solicitor holding onto house sale money

Thrugelmir

Verdasson wrote: »

What should be my next move?

Wait............

Mardle

Google 'executors year' -

Verdasson

It's become grossly apparent, that posting a question here, is basically off the scale. You don't get The Law, you get moral opinons.

MamaMoo_2

You've been given plenty of valid suggestions, but ultimately your solicitor is the only one who knows why the proceeds of this particular sale have not been released yet.
If you don't like the free advice you get here, might I suggest you pay a solicitor for some professional advice...

G_M

Verdasson wrote: »

It's become grossly apparent, that posting a question here, is basically off the scale. You don't get The Law, you get moral opinons.

Did the will leave you the house, the proceeds of sale of the house, or a sum of money from the estate?

a sensible Q that needs answering before The Law can be explained.

Maybe the estate probate hasn't been completed yet. Does the solicitor have to satisfy HMRC. Maybe there are other beneficiaries and/or debts that need to be satisfied before they can release funds.

All possible explanations of The Law.

So the Executer has sold the property.

The money raised now resides in the estate, under the Executer's control.

The Executer has to ensure that all Estate bills and debts, and any Inheitance Tax due, has been paid before he can release the remaining funds to the Beneficiaries in accordance with the will.

An explanation of The Law.

An advert is usually placed in the London Journal asking for anyone with a claim against the estate to come forward within one month, given the value of the estate the solicitor as executor needs to make sure someone does not roll up demanding a couple of hundred grand on a debt to find out you spent the cash.
They will pay you when the estate is finalised and not before.

Again - this is The Law.

and on.....

:huh:

kkgree1

I agree with previous posters that it is usual for an interim payment to be made in such circumstances and you can ask for this.

We had exactly the same happen a few years ago when we inherited money from my great aunt's estate. Once her house and the majority of her shares were sold, the solicitor (executor) gave all beneficiaries the majority of their money as an interim payment.

However, due to the complexities of her estate and the IHT payment required, it took another 2 years to complete and we all then received a small final payment.

eddddy

This relates to advice I received many years ago about appointing an executor... I'd be interested to know if it's still valid.


Presumably the deceased instructed the solicitor to be their executor before they died. So effectively, the deceased is the solicitor's client.

The person inheriting is a 3rd party. So the solicitor has no duty to keep them informed, answer their questions etc.


So a better approach would be to make the person inheriting an executor - with an instruction to the person inheriting that they should appoint a solicitor to deal with the estate.

That way the person inheriting is the solicitor's client, and so will be in far more control.

somethingcorporate

If you want a legal opinion why not pay another solicitor for it.

You got really good value for the amount you paid for the opinions of these people that have given up time to help you. Totally ungrateful OP, just because you don't like the sensible answers doesn't make them wrong.

Perhaps you should step away from the internet if you don't realise that what you get is opinions. Even if you pay for it you will only get a legal opinion (rather than THE LAW).

quidsy

Is that enough of THE LAW for the op though

LateStarter

Considering the way the OP has behaved here, and another thread he's started, it is within the realms of possibility that the solicitor is holding on to the money because :

1. The OP's techinque of taking part in informed discourse seems to be insulting those in possession of opinions or facts he doesn't like.

2. The OP has used said skills with solicitor (or staff).

Be nice to people, most of them are actually spending time trying to help, !!!!!!.