Advice please re interim payment?

KK14

Is an executor able to make a small interim payment to
the main beneficiary ahead of probate being granted?

I am the main beneficiary of my mum’s will. The executor is a family friend of my mum who knows nothing of her personal finances etc, nor did he see her in her final year of life.
So I have been helping him piece everything together, he lives 1.5 hrs away so not on the doorstep, English is not his first language & obviously it is in my interest to help him
as it will help me.
My mum left a Will.
Her estate is not subject to Inheritance Tax
The banks are releasing £33k to an account the executor has ahead of probate been granted as it falls under their limits.
Funeral expenses will be taken care of from that.

He will do the online probate form once the funds hit as he can make the £215 payment from that.

I am happy to sign in writing that I have the payment but can he actually give me it legally or not? If he can’t then I will have to try to get an overdraft or a loan.

KK14

I will add that probate is required as my mum’s bungalow which I have inherited will be sold. There is no mortgage on it.

Savvy_Sue

You are the main beneficiary: who are the others, and how much are they getting (roughly) in proportion to the total value of the estate / compared to you?

I'd say that has some bearing on the question. He can legally make an interim payment, but it is sometimes discouraged if there's a risk that the remaining payments might not be able to be made because debts come out of the woodwork.

Keep_pedalling

I would not distribute anything to residual beneficiaries until I had dealt with minor beneficiaries.

KK14

The other beneficiaries are getting money which is covered by the money in my mum’s bank accounts.
Beneficiary payments run from 2 x £10k payments to £1000 & £500.
So there will be £5k left which is then mine so I am the main beneficiary money wise & the property is valued at £200k.
I am only asking for £500 in advance as I know there might be other payments from the estate & the selling of the bungalow so i’m not leaving the account short but I don’t know whether the executor will agree to my request.

My logic says the money is there & is cheaper than me getting an overdraft or applying for a loan but I don’t want to get the executor in trouble legally.

Dox

Technically the executor shouldn't distribute anything until probate has been granted, but there is no law saying they can't if they decide to do so. Most won't, because they will be personally liable if anything 'goes wrong' and right people don't get the right amounts.

Socajam

How about have the funeral home send the invoices to the executor who will then pay the bills.

Socajam

How about have the funeral home send the invoices to the executor who will then pay the bills.

Sorry for the double post.

My sister was the Administrator for my mom's estate and she was able to pay the funeral home from the bank account.

Yorkshireman99

KK14 wrote: »

Is an executor able to make a small interim payment to
the main beneficiary ahead of probate being granted?

I am the main beneficiary of my mum’s will. The executor is a family friend of my mum who knows nothing of her personal finances etc, nor did he see her in her final year of life.
So I have been helping him piece everything together, he lives 1.5 hrs away so not on the doorstep, English is not his first language & obviously it is in my interest to help him
as it will help me.
My mum left a Will.
Her estate is not subject to Inheritance Tax
The banks are releasing £33k to an account the executor has ahead of probate been granted as it falls under their limits.
Funeral expenses will be taken care of from that.

He will do the online probate form once the funds hit as he can make the £215 payment from that.

I am happy to sign in writing that I have the payment but can he actually give me it legally or not? If he can’t then I will have to try to get an overdraft or a loan.

Unless there are exceptional circumstances you should not distribute anything. Payments of funeral expenses is usual. You should remember as executor you are personally liable if you get it wrong. If in doubt don’t. It is amazing how greed takes over when a will appears.

SeniorSam

KK14, You can not make any payments and the estate needs to be dealt with by the Executor only, as he is legally responsible, as already mentioned. The executor account is for dealing with the administration, so you need to wait until the right time.

badger09

Yorkshireman99 wrote: »

Unless there are exceptional circumstances you should not distribute anything. Payments of funeral expenses is usual. You should remember as executor you are personally liable if you get it wrong. If in doubt don’t. It is amazing how greed takes over when a will appears.

OP isn't the Executor, just the main beneficiary.

@KK14
What do you need the £500 for? What would you have done if there was no prospect of this inheritance?

If it is to pay anything related to your late mum, then the Executor should deal with it. If you've already paid anything out, then I see no problem with the executor reimbursing you. Otherwise, you can ask, but the Executor is well within his rights to refuse until Probate is granted and the estates finances known.