Interim Distributions...

pixiescar

HI!

I asked about my Father's estate here a while ago and everyone was incredibly helpful.

Now that I have received the estate accounts, I just wanted to ask if under "Interim Distributions" it is normal for it to contain anything other than interim payment amounts to the beneficiaries? And whether all executors would have to sign off on any interim distributions released from an estate?

The interim distributions which appear on the estate accounts far outweigh what we have received as beneficiaries. And one of the executors (my brother) had told me that he does not have any memory signing for the release of some of the interim distributions.

So obviously, the initial jump to conclusion is that the other executor has been fraudulently releasing money themselves. I just wanted to make sure that there are no other bill payments or anything of this nature usually released from the estate funds?

Thanks!

g6jns_2

pixiescar wrote: »

HI!

I asked about my Father's estate here a while ago and everyone was incredibly helpful.

Now that I have received the estate accounts, I just wanted to ask if under "Interim Distributions" it is normal for it to contain anything other than interim payment amounts to the beneficiaries? And whether all executors would have to sign off on any interim distributions released from an estate?

The interim distributions which appear on the estate accounts far outweigh what we have received as beneficiaries. And one of the executors (my brother) had told me that he does not have any memory signing for the release of some of the interim distributions.

So obviously, the initial jump to conclusion is that the other executor has been fraudulently releasing money themselves. I just wanted to make sure that there are no other bill payments or anything of this nature usually released from the estate funds?

Thanks!

Executors have to act together and according to law. Perhaps you can give more detail of exactly what has been done and why you think there is something wrong?

pixiescar

I have received my late Father's estate accounts recently.
My brother and my Dad's girlfriend are the executors.
Everything was left to be split 3 ways, between my brother, sister and myself.

2 years ago and interim payment of £3000 (£1000 each) was released as an interim payment to us three beneficiaries. When I called the solicitor to say that I had received my portion, he said that another £12,000 had been released to one of the executors on top of the £3,000. When I questioned my Dad's girlfriend about this, she said that it was a "gift" and that she didn't know if it was going to be released or not.
I later received £4,000 (which was my third share of the released amount).

Having since received the estate accounts I have seen £3,000 taken out of the estate accounts under "interim distributions" once every other month in 2014. None of which I or the other beneficiaries have seen. Along with two other very large amounts.

My brother is a co-executor and yet he said that he has no knowledge of these releases and has not signed for them. So I didn't want to jump to conclusions, yet it seems odd that money has been released which cannot be accounted for.

Do all the executors in charge of an estate generally have to sign off on interim distributions, or does it only take one executor to make that call?

g6jns_2

pixiescar wrote: »

I have received my late Father's estate accounts recently.
My brother and my Dad's girlfriend are the executors.
Everything was left to be split 3 ways, between my brother, sister and myself.

2 years ago and interim payment of £3000 (£1000 each) was released as an interim payment to us three beneficiaries. When I called the solicitor to say that I had received my portion, he said that another £12,000 had been released to one of the executors on top of the £3,000. When I questioned my Dad's girlfriend about this, she said that it was a "gift" and that she didn't know if it was going to be released or not.
I later received £4,000 (which was my third share of the released amount).

Having since received the estate accounts I have seen £3,000 taken out of the estate accounts under "interim distributions" once every other month in 2014. None of which I or the other beneficiaries have seen. Along with two other very large amounts.

My brother is a co-executor and yet he said that he has no knowledge of these releases and has not signed for them. So I didn't want to jump to conclusions, yet it seems odd that money has been released which cannot be accounted for.

Do all the executors in charge of an estate generally have to sign off on interim distributions, or does it only take one executor to make that call?

All the executors are legally responsible. Quite how such "distributions" can take place with their knowledge is very odd indeed! The other executors need to start asking questions at once.

SeniorSam

All distributions need the approval of the appointed Executors. It should not be difficult to ask for details of all distributions in writing for all Executors.

Sam

pixiescar

I shall indeed be asking about the whereabouts of all "interim distributions".
It is my understanding that most of the legal work has been done by one executor, and even though the will has technically finished, she has been withholding the estate accounts from the co-executor and the beneficiaries. I have since been sent them through directly from the solicitor and there are a number of released payments, of which I have no knowledge or record of.

If one executor has been releasing funds, without the knowledge or agreement of co-exectuors or beneficiaries, is this considered fraudulent?

g6jns_2

pixiescar wrote: »

I shall indeed be asking about the whereabouts of all "interim distributions".
It is my understanding that most of the legal work has been done by one executor, and even though the will has technically finished, she has been withholding the estate accounts from the co-executor and the beneficiaries. I have since been sent them through directly from the solicitor and there are a number of released payments, of which I have no knowledge or record of.

If one executor has been releasing funds, without the knowledge or agreement of co-exectuors or beneficiaries, is this considered fraudulent?

It could well be fraudulent. The othe executor is also at fault for allowing it to happen. The executors Wil be personally liable for any fraud or negligence.

Tuesday_Tenor

The accounts should show to which of the beneficiaries the interim paymenets were made. Presumably they don't, and this should be investigated. [I think you suspect they weren't actually paid to one of the named beneficiaries at all .....]

Out of interest in your previous thread, what is the value of the estate according to the accounts, and did the assets include the house/ half the house/ no house?