Questions about Distribution

lukewarn

Parent died about 2 years ago,I am the sole executor of the probated will.

The other beneficiaries have been troublesome resulting in 2 county court cases where the judges found in my favour on both occasions and it all came to nothing in the end.(Both cases dismissed,no order as to costs.)

I originally tried to distribute the estate over a year ago but their solicitor returned the cheques.

Now,the solicitor is finally asking for their bequests to be paid.

Their solicitor is asking for the whole of the money be paid to their client account by bank transfer.

The solicitor also says that the beneficiaries have decided amongst themselves to change the ratio of their bequests.

My questions are :

1. Am I correct in saying that I will be distributing the estate exactly per the will and that I am not interested in what the beneficiaries do with the money once received ?

2. I would prefer to get original signatures agreeing to the estate accounts before I release any money to them - is that right ?

3. I would prefer to send cheques, again exactly as per the distributions in the will, to them and not to get involved with bank transfers - am I within my rights as executor to insist on this.

Many thanks in advance of any comments.

nom_de_plume

lukewarn wrote: »

Parent died about 2 years ago,I am the sole executor of the probated will.

The other beneficiaries have been troublesome resulting in 2 county court cases where the judges found in my favour on both occasions and it all came to nothing in the end.(Both cases dismissed,no order as to costs.)

I originally tried to distribute the estate over a year ago but their solicitor returned the cheques.

Now,the solicitor is finally asking for their bequests to be paid.

Their solicitor is asking for the whole of the money be paid to their client account by bank transfer.

The solicitor also says that the beneficiaries have decided amongst themselves to change the ratio of their bequests.

My questions are :

1. Am I correct in saying that I will be distributing the estate exactly per the will and that I am not interested in what the beneficiaries do with the money once received ?

2. I would prefer to get original signatures agreeing to the estate accounts before I release any money to them - is that right ?

3. I would prefer to send cheques, again exactly as per the distributions in the will, to them and not to get involved with bank transfers - am I within my rights as executor to insist on this.

Many thanks in advance of any comments.

Something sounds a little fishy here. You should distribute the estate as per the will and then the beneficiaries can do want they want with their bequests and by a deed of variation if they so decide. You should be giving them what they are due under the will.

I believe the advice is to pay by cheque too as to pay monies into an account by bank transfer only requires a sort code and account number which could belong to anyone.

In your position I would pay by cheque and include the estate accounts with a covering letter that clearly states their paying in the cheques confirms acceptance of the accounts.

Margot123

Don't be bullied by the solicitor, they are just acting on the instructions of their own clients, and also trying to save money on bank charges.

Stick to the letter of the Law by distributing according to the exact wording of the will.

Under no circumstances pay by Bank Transfer, and only pay by cheque written in the name as per the will. So if Jimmy Smyth is spelled as 'James Smythe' in the will, that is their problem, not yours.
Once they have been cashed, cheques are as good as a receipt.

It may be tempting to get this out of the way by complying to their solicitor's demands, but you have to protect yourself.

getmore4less

what good is signature?

if they later decide there is something wrong they can still dispute.

All the signature does is say they received the accounts and they added up.

Margot123

getmore4less wrote: »

what good is signature?

if they later decide there is something wrong they can still dispute.

All the signature does is say they received the accounts and they added up.

Agreed, and the way they've already treated the OP, I would see that as a certainty.

Yorkshireman99

nom_de_plume wrote: »

Something sounds a little fishy here. You should distribute the estate as per the will and then the beneficiaries can do want they want with their bequests and by a deed of variation if they so decide. You should be giving them what they are due under the will.

I believe the advice is to pay by cheque too as to pay monies into an account by bank transfer only requires a sort code and account number which could belong to anyone.

In your position I would pay by cheque and include the estate accounts with a covering letter that clearly states their paying in the cheques confirms acceptance of the accounts.

Unless these are residuary beneficiaries then they are not entitled to the estate accounts. If they want a copy of the will let them buy one.

Tom99

[FONT=Verdana, sans-serif]If they wanted you to distribute in a different proportion they should have done so via a deed of variation, but the two years may be up now.[/FONT]

getmore4less

DOV are nothing to do with executors unless their approval is needed due to tax implications on the estate.

Asset holders and solicitors are happy to take instruction from executors to deliver assets by electronic transfers anywhere.

If the beneficiaries have said it is OK(In writing) to send the funds via their solicitor then what's the problem?

Tom99

getmore4less wrote: »

DOV are nothing to do with executors unless their approval is needed due to tax implications on the estate.

[FONT=Verdana, sans-serif]They are if the estate has not been distributed as in this case. After a DOV an executor must distribute the estate in accordance with the DOV providing it has been brought to their attention, or they have been made a party to the deed.[/FONT]

buildersdaughter

The other beneficiaries have decided that they will alter the ration of distribution: once the money is in their account, they can do what they like with it.
They want it paid into a solicitor's client account: I see no reason that you cannot send a cheque to this solicitor, made out to their client account, with a covering letter. However, I see no reason why you should do this - it is rare these days for someone not to have a bank account, but they can cash cheques at certain places, for a fee.

Personally, I would ask the Probate Office for advice, but I don't know what advice you have already received.

It sounds as if they are trying to receive money without it showing up in one of the bank accounts - possibly because of means tested benefits, local authority fees, or being seriously overdrawn or similar.
However, recently we had a query from someone who wanted her inheritance paid into solicitor's account so that the executor could not trace her (she didn't say why, but probably an abuse case). The advice she received on here was that she could do that, and the solicitor could send a receipt. Indeed, you may be more likely to get a receipt from the solicitor than from the beneficiaries! I really think you will have done your duty if you ask Mr. Grabbit for the name of his client account, send the cheque with a letter detailing the amount of inheritance broken down by beneficiary, and of course, keep all correspondence.

lukewarn

So,if the (vexatious ) beneficiaries have signed a deed of variation does that mean that I (the sole executor) have to alter the wishes of the deceased ? I certainly haven't signed any DOV.

That doesn't sound right.

Surely, the will is paramount and I can ignore any request from anybody to change the deceased's final wishes.

I have been treated so badly over the past year that I do not want to 'agree' to anything they,and their solicitor, want.

I thought the executor held all the power and just has to execute the will verbatim.is just pay a cheque to the exact name on the will.