Received cheque from executor

I have received a cheque from the executors regarding my 25% share and it seems a bit on the low side. No other documents were enclosed with the cheque.

I asked them for a copy of the Estate Accounts to which they replied ....You can have a copy of the solicitors breakdown. Is this the same thing? i asked if i could collect a copy of said document and now they are requesting that i wait a week while they tie up the loose ends regarding my uncles will.

2 Questions

1 Do i have to sign a document before i accept the cheque?
2 As a residual beneficiary what documents can i request? Bank account statements etc.

At the moment i have no idea if the amount on the cheque is anywhere near the amount i should receive.

The executors have not kept me in the loop at all. I have had to keep contacting them asking for updates for the last 12 months.

I received my uncles car about 2 months ago (that he left to me in his will) and that did not go down too well with the executors at all. I am therefore very wary of them trying to recoup the value of the car. (deducting the value from my 25% share)

If i suspect foul play what should i do next?


All help appreciated.
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Comments

  • Keep_pedalling
    Keep_pedalling Posts: 16,437
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    1. No you don’t have to sign anything to accept the cheque

    2. You are entitled to a copy of the estate accounts. According to your other thread the executors handed everything over to a solicitor so those will come from the solicitor. You are not entitled to anything more in depth.

    As for the car, you said in the other thread that this was promised to you by him but was not in the will, in which case unless the other beneficiaries completed a deed of variation it should it’s value should have been lumped in with the residuary estate so you would see a reduction in the cash amount you receive.

    The fact that the executors farmed everything out to a solicitor will have added significant costs to administering the estate so you should not be surprised that your share of the estate is lower than you might otherwise have expected.
  • Thanks for the reply. The car was in fact in the Will. The executors told me initially it was NOT in the Will. It was only after i requested to see a copy that I realized it WAS in the Will all along.
    I was to receive his car and a 25% share of his estate.

    I believe the the executors employed a solicitor to apply for Probate, after which they did everything else. I have not been kept up to date with progress at all really and have had to keep asking, much to their disapproval.

    They have said i can have a copy of the 'solicitors breakdown'. This does sound like they employed a solicitor. No mention of the Estate Accounts though.

    How long should i wait to see a copy of the Estate Accounts?
  • Have you established that the cheque is your total inheritance and not an interim payment? Assuming the former, this confirms the estate accounts have been finalised and a copy should be supplied.



    Given they provided you with a copy of the Will I would hope the accounts would be forthcoming upon request. I would perhaps wait and see what the solicitors breakdown actually is before pushing further.


    What leads you to think you're not getting your full entitlement? How well did you know your uncle's financial affairs?
  • Thanks for replying.
    I downloaded a copy of the will and the probate form (from Gov website)so i have an idea how much my Uncle's estate is worth ie the figure on the Probate form. The figure on the cheque issued to me seems low. If you multiply it by 4 (we each get a 25% share) it means around £50,000 has been 'eaten up' within 12 months. This seems excessive to me...........hence why i want to see the Estate Accounts.

    I can't understand why the execs cannot give me a copy of Estate Accounts immediately. They must have used the form to know how much each beneficiary receives.
  • Flugelhorn
    Flugelhorn Posts: 5,491
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    The probate form may have included a house value, maybe they sold it for less, maybe there were other debts that they weren't aware of that stage etc etc. Hopefully all will become clear when you get the paperwork
  • I met with the executors today to collect the 'Estate Accounts'. These were hand written and not professionally presented. Just something they knocked up over the last 10 days. They clearly have been compiled after the cheques were issued.

    They told me that my Uncle's property was sold and split 4 ways between the beneficiaries.
    The cash that was left (£14k)) after all debts etc. were paid was 'given' to his partner(their mother)!
    Apparently my Uncle had a verbal agreement with them all.The Will states that the residue of his estate was to be split 4 ways/25% share between beneficiaries.

    I told them i was unhappy with the cash being given to their mother as i was not asked or informed about the matter.

    As far as i am concerned the will has not been executed correctly. I am therefore owed at least £3500. Their mother is not mentioned at all in the will. I suspect they have added £5000 to each of their cheques. 3 x £5k is roughly the £14k.

    What should i do next? Contact a solicitor?

    All help greatly appreciated.
  • Sea_Shell
    Sea_Shell Posts: 9,272
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    You can also check sold prices on Rightmove in about 3 months, if you don't know (believe) what it actually sold for.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.47% of current retirement "pot" (as at end February 2024)
  • i have a receipt (copy)for the sale of the property from the solicitor that dealt with the sale. That seems above board.
    If i cash my cheque does that mean i accept all that they have calculated? Can i still query their actions etc? and try and claim the£3500 ?
  • Can anyone else help me out please?
  • MumOf2
    MumOf2 Posts: 612
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    As far as you have described, the amount of £14,000 in cash (separate from the proceeds of the house sale) has been 'given' to the partner of the deceased which is outside the provisions of the will. The Executors have therefore taken it upon themselves not to distribute the estate correctly. If they wished to do this, they should have proposed a Deed of Variation which would have to be agreed formally by any beneficiary affected, i.e. all four beneficiaries.

    All beneficiaries are entitled to see the Estate accounts which must include ALL proceeds of the deceased's assets (including the cash) and how they were distributed. If this is not as per the will, the Executors have not carried out their duties correctly.

    On the face of it, this could lead to legal action to redress the situation.
    But before spending money on solicitors, you could send a Letter before Action to the Executors requesting:
    1. Copy of the Will
    2. Copy of the Estate Accounts

    and stating that you will be taking legal advice if the proceeds haven't been distributed in accordance with the provisions of the will.

    Of course, this is pretty confrontational and it may well be that there will be a massive falling out between you and other family members. Also, if they ignore your LBA and you end up taking legal advice the costs will eat into any gain you achieve with the extra cash. Is it worth it for the additional £3,500? Even though the Executors appear to have been a bit underhand in the way they've acted, do you feel that the deceased's partner could do with the £14K if there was no other provision for her? Only you can decide.

    As has been said, the responsibilities of an Executor are onerous and exacting, and not to be taken on lightly. It seems as if they don't (or don't want to) understand what their legal duties are in this respect.

    Good luck.

    MumOf2
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    Quit Date: 20th November 2009, 7pm

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