Estate distributin after Probate

RitaShaw

Thinking my children might have inherited following the death last year of a close relative, I just downloaded a copy of the will. I see probate was granted in February 2017. We have heard nothing. I now see that myself and the children are beneficiaries (one third of the estate shared between me and my children, 2 over 18 2 under).
When should we be informed?
What information can I expect?
There is one executor, who is hostile to us. I doubt there is a lawyer, although of course, I don't know whether there is or not.
Does the executor retain full control over the inheritance of the children under 18? Can I object to this?
Is the amount on the probate grant, the actual amount I can expect my family to receive one third of?
Thank you.

Margot123

Firstly, the executor has upto 12 months from Grant of Probate in which to administer the estate, and longer if need be.
I imagine the will creates a Trust for the under-18s, and the executor will have control of this until they are of an age to inherit. The exact wording of the will needs to be interpreted to see what will happen.
Also, the Probate amount is not normally the amount left in the estate once funeral costs, insurance etc has been paid. There are lot of expenses that will possibly be deducted, aswell as claims for overpayments by DWP etc. No one can be paid until these are sorted, so may take longer than 12 months.

RitaShaw

Thank you. Should we have been informed by now that we are beneficiaries?

Jenniefour

No harm in writing to the executor to let him/her know politely that you now have a copy of the will and you look forwards to hearing from them in due course.

Margot123

RitaShaw wrote: »

Thank you. Should we have been informed by now that we are beneficiaries?

Yes, it would be customary, and good practice on the part of the executor whatever the personal relationship to the beneficiaries.

badmemory

Logically I would expect that the higher the probate amount was the nearer you would get to one third. The lower the amount then the further away from one third. For example - probate amount £200k expenses £5k one third of balance £65k, probate amount £20k expenses £5k one third of balance £5k. so depending on amounts 32.5% to 25%.

It would be normal for beneficiaries to be notified but I have noticed a lot of threads recently that show executors (usually disapproving of will terms) waiting as long as they can to notify. Hence Jenniefour's advice. So a very polite nudge (kick up the proverbial a***) could not do any harm/let them know they are going to get away with nothing.

RitaShaw

Thank you for your responses. I have written a polite and short letter. Should I be sent a copy of the accounts to sign off and if so, when? Also, the probate has a gross sum and a net sum - why is that (if there are more cost still to be taken)?

badmemory

Net after debts, including funeral, house maintenance before sale, inheritance tax, solicitors fees, maybe a mortgage.

Unless the sale of something has been long drawn out then the net should be just about correct. If there is a property involved try googling it.