solicitor seems to be taking a long time,is this normal?

brewerdave

....and reading some of these threads, I'm grateful that we (the executors of my late mother's will) decided to DIY; Admittedly no property or shares to dispose of, but in ~ 1 month I've gathered together the necessary info. on all her assets and 99% of her debts -I'm reckoning on applying for probate in 2-3 weeks with a view to settling bills early in the NY and distributing the proceeds. The biggest problem I'm having,is opening an executors account which some of the financial institutions are insisting on.
I suspect the earlier post - re solicitor's clerks only opening the file once a month -is spot on:(

konark

The biggest problem I'm having,is opening an executors account which some of the financial institutions are insisting on.

When I was executor for my mother's ,admittedly simple, estate I just used my own bank account, the companies who mum had investments with were all happy to pay money into this.

Froglet

konark wrote: »

When I was executor for my mother's ,admittedly simple, estate I just used my own bank account, the companies who mum had investments with were all happy to pay money into this.

Was this because you were the only executor and the only beneficiary ? Just wondered if it would work with 2 executors and 3 beneficiaries,as will be the situation with my Mum when the time comes ? I would doubt it but it would make life easier. I hadn't realized you need to do it but of course it makes sense.

Yorkshireman99

Froglet wrote: »

Was this because you were the only executor and the only beneficiary ? Just wondered if it would work with 2 executors and 3 beneficiaries,as will be the situation with my Mum when the time comes ? I would doubt it but it would make life easier. I hadn't realized you need to do it but of course it makes sense.

Just because a someone else had a particular experience does not mean that you will have the same. However well meaning the person giving the advice may be there can be all sorts of factors that are different in your case. A solicitor will always put the funds in a client's account but it can be difficult for an individual. Often a bank will change the account name from that of the deceased to the Executors of XYZ deceased and allow funds to be deposited.

brewerdave

Froglet wrote: »

Was this because you were the only executor and the only beneficiary ? Just wondered if it would work with 2 executors and 3 beneficiaries,as will be the situation with my Mum when the time comes ? I would doubt it but it would make life easier. I hadn't realized you need to do it but of course it makes sense.

.....the problem is, that not all financial institutions are the same !! They all seem to have different limits on what can be treated as a "small estate". As a very rough guide from my limited experience any accounts greater than £10k will require a grant of probate
However,one building society also require a copy of the grant of probate -to release ~ £10 !!!:rotfl:
I THINK I have got round the multiple executors issues, by being the sole applicant for probate - otherwise I'll be having to collect 4 signatures from all points of the compass,home and abroad! to release monies.

Keep_pedalling

brewerdave wrote: »

.....the problem is, that not all financial institutions are the same !! They all seem to have different limits on what can be treated as a "small estate". As a very rough guide from my limited experience any accounts greater than £10k will require a grant of probate
However,one building society also require a copy of the grant of probate -to release ~ £10 !!!:rotfl:
I THINK I have got round the multiple executors issues, by being the sole applicant for probate - otherwise I'll be having to collect 4 signatures from all points of the compass,home and abroad! to release monies.

I have been looking at this in advance for my mother, her savings are only around £20,000 and as POA I manage them and at the moment she has money in Barclays and Ratesetter. Barclays will pay up to £30,000 without probate, but Ratesetter would appear to require probate whatever amount is involved.

konark

Was this because you were the only executor and the only beneficiary ? Just wondered if it would work with 2 executors and 3 beneficiaries,as will be the situation with my Mum when the time comes ? I would doubt it but it would make life easier. I hadn't realized you need to do it but of course it makes sense.

I was the only executor, yes, and this is often best. When I was joint executor of another will my co-executor and I spent half the time like siamese twins countersigning each other's signitures. It's much easier if you are sole executor.

Froglet

Update .Today I have received the final cheque and a comprehensive set of accounts detailing all the income and expenditure of my grandmother's estate.I can appreciate now why it has taken a while but finally I know her wishes have all been carried out.

She was generous in life,even more so in death.R I P Muriel.I intend to give a chunk to charity and know she would approve.

lisa110rry

What a good person you are Froglet. Glad it's over. I certainly feel for the niece who lost he grandmother and mother in quick succession. Good that you got to speak with her.

Froglet

Thank you Lisa,what a nice thing to say.

The lady you are referring to was my step grandmother's sisters daughter but they were close,and she cared for her when she needed help.No one knew what was wrong with her,she would get dizzy and then latterly she got confused and was moved into a home.It was only when she had a stroke and was taken to hospital they found she had a brain tumour.I am glad she never knew what was wrong but it should really have been diagnosed sooner.

I miss her,and want to put her gift to good use.Like me,she cared for animals and I want to carry on her kindness.