Interim payment query

Dotty1993

The estate executor has contact all 5 beneficiaries today to say they will make interim payments to each beneficiary this week however 3 out of 5 of the beneficiaries do not want an interim payment, what does this mean for the other 2 beneficiaries? Interim payment or not? We are banking on this payment to secure a house

Robin9

Their choice which won't affect your payment.

Marcon

Dotty1993 wrote: »

The estate executor has contact all 5 beneficiaries today to say they will make interim payments to each beneficiary this week however 3 out of 5 of the beneficiaries do not want an interim payment, what does this mean for the other 2 beneficiaries? Interim payment or not? We are banking on this payment to secure a house

Pity the poor executor who has to deal with beneficiaries like these 3! I'd check whether it is a case of 'pay all or pay none' - hopefully not, but you really do need to check with the executor. You can't just assume 2 out of 5 will be getting an interim payment and not the other 3. Indeed, the executor may decide to pay all 5, since they appear to have 'informed' rather than 'asked' you about the interim payment.

Mojisola

It doesn't have to be an 'all or nothing' payment - we paid out to one beneficiary who had a time-sensitive need for some of their inheritance.

It shouldn't make any difference to the executor whether beneficiaries want some of it now and some later or all it when the estate is finally wound up.