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Distribution following a will
tommytynan123
Posts: 482 Forumite
After death if a person has, for example, £60K savings and owns a house outright and the will is being split amongst the 3 children can the solicitor/executor distribute all/some of the cash before the house is sold?
Thanks
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Comments
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Yes. However solicitors are often reluctant to do so, and it's important not to distribute too much: there will be bills relating to the house sale and it may take a while for that to complete!Signature removed for peace of mind0
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A solicitor will be very reluctant to make any immediate payments and will prefer to wait for 6-9 months so that any possible claims from DWP, creditors and long-lost relatives can be met .
An executor may choose to distribute as much and as soon as they see fit, but they must be aware that if things go pear-shaped it will be their backsides in the firing line.0 -
Executors *can* make interim payments but are not usually under an obligation to do so.
They would not normally distribute all of the liquid assets as there may be expenses such as insurance which have to be paid up frnt in relation to the house, they would also not normally mnake any distribution until they were satisfied that they have got in all of the assets and know what the liabilities are.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0
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