Executor needing money back from beneficiaries

Margot123

jude_pmc wrote: »

Many thanks to everyone. With this info i can put pressure on them without just appearing bossy. Yes thiese are my siblings!

So, you aren't going to bother with proper legal advice then?

The words of random strangers will save a few quid but can turn out very costly. Family ties mean diddly-squat when it comes to money. Believe me, I've been there and it's proven very expensive indeed. More expensive than any solicitor would have charged.

Yorkshireman99

jude_pmc wrote: »

Many thanks to everyone. With this info i can put pressure on them without just appearing bossy. Yes thiese are my siblings!

You need to realise that you personally as executor are rresponsible for your errors and the penalties like to be imposed by HMR&C. Proper paid for legal advice will minimise the cost of putting thing right.

jude_pmc

Thanks for all the advice. My siblings have now paid their share into my executors account so that I can pay the remainder of the house IHT.

I phoned to notify IHT and they did not ask me the date of sale.


FYI: Yes we had intended to pay the tax out of the sale of the house but then two of my siblings decided they wanted to keep it so bought us out and possibly then have cash flow problems. Those who sold have paid the Cap gains, the house was split between the beneficiaries and sold on the same day (with help from a solicitor).