Probate granted - Gazette advert question

Hi there,


I've now received probate for my mum estate - total value £127K, most of which is value of her residential property. I am executor and sole beneficiary. I've had a DWP investigation letter this morning - mum was claiming Pension Credit so presumably they are checking that she was under the means tested threshold for this benefit (which she was - it is £10k) so although annoying it's not an issue.


Is it worth me taking out the gazette advert for this estate? I understand that it protects me as executor from having to pay estate claims but not me as beneficiary - therefore I'm wondering if there is any point doing this as both are me! Would be interested to see what opinions and advice people have.


Thanks
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Comments

  • Mojisola
    Mojisola Posts: 35,571 Forumite
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    zailrand wrote: »
    Is it worth me taking out the gazette advert for this estate? I understand that it protects me as executor from having to pay estate claims but not me as beneficiary - therefore I'm wondering if there is any point doing this as both are me! Would be interested to see what opinions and advice people have.

    I didn't after Dad died because I'd been managing Mum and Dad's money for about ten years and knew there wouldn't be anyone making claims on the estate.

    How sure are you that the estate is free from debts?

    The letter from the DWP is a standard one - the size of the estate which includes the house value prompts it.
  • zailrand
    zailrand Posts: 23 Forumite
    Mojisola - thanks for that - I suspected the DWP letter was a standard one prompted by value of estate at probate.


    Re the Estate - my mum was pretty transparent re financial stuff and all debts were obvious - credit card etc - and as it was something we discussed I'm confident there are no hidden creditors. In any case, from what I read it's only the liability of executors that are protected by gazette entry not liability of estate or beneficiaries which is why I'm wondering if there is any point?
  • FreeBear
    FreeBear Posts: 17,875 Forumite
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    zailrand wrote: »
    In any case, from what I read it's only the liability of executors that are protected by gazette entry not liability of estate or beneficiaries which is why I'm wondering if there is any point?

    I took the same view when dealing with my mother's estate and didn't bother with the London Gazette. As an executor and main beneficiary, if there were any hidden debts, I would be liable regardless. That said, fairly confident there were no debts lurking in the woodwork. Should anything pop up in the next 12 years, the claimant would have to take me to court and I don't roll over easily.
    Her courage will change the world.

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  • Rodders53
    Rodders53 Posts: 2,584 Forumite
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    I never bothered with the Gazette, either.

    :o Make that M-i-L didn't when her husband died.
    :o nor did my wife when her Mum passed.

    Knowing that her parents never liked owing anyone anything, we were sure that nothing would come out of the woodwork later on. As you suggest, IF anything was owed we'd perhaps be liable; but would want to clear such a debt anyway!

    :A
  • Unfortunately my mother never ever spoke about financial matters especially after contracting dementia twelve years ago. I have the same quandrey as you, being both sole executor and sole beneficiary after she died intestate.

    I have absolutely no idea if there are any creditors out there so can I still be persued as a beneficiary even if I place a notice of her passing in the London Gazette?

    Will I be 100% liable or partially liable in the future for any outstanding debts or those that maybe come to light? I don't want my settled to life to be turned upside down and destroyed due to something that was never my doing in the first place.

    This is a nightmare, so any help would be gratefully received!

    Thank you in advance.
  • Margot123
    Margot123 Posts: 1,116 Forumite
    You have to be 100% certain that no debts exist, even if that person never appeared to borrow money.
    There have been circumstances where people have guaranteed/taken out loans for friends and relatives, and then there has been a claim against the estate.
  • SevenOfNine
    SevenOfNine Posts: 2,382 Forumite
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    Same as #2, 4 & 5, absolutely certain no debts anywhere so decided not to place the ad.
    Seen it all, done it all, can't remember most of it.
  • chesky
    chesky Posts: 1,341 Forumite
    Eighth Anniversary 1,000 Posts
    Who was managing your mother's finances for the twelve years of her dementia?
  • Unfortunately my mother never ever spoke about financial matters especially after contracting dementia twelve years ago. I have the same quandrey as you, being both sole executor and sole beneficiary after she died intestate.

    I have absolutely no idea if there are any creditors out there so can I still be persued as a beneficiary even if I place a notice of her passing in the London Gazette?

    Will I be 100% liable or partially liable in the future for any outstanding debts or those that maybe come to light? I don't want my settled to life to be turned upside down and destroyed due to something that was never my doing in the first place.

    This is a nightmare, so any help would be gratefully received!

    Thank you in advance.
    As sole beneficiary the Gazette notice will serve no useful purpose. Since you have managed her finances for twelve years there is even less reason to waste money on it.
  • konark
    konark Posts: 1,260 Forumite
    The Gazette advert protects only the executor but not the beneficiaries from unforeseen debts. In your case it is useless as any creditor would sue you as beneficiary.
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