Unexpected drawback to doing own probate

katiepoppycat

Just wanted to share this experience and vent a little.  My beloved grandmother died last year and as executor and one of two beneficiaries I dealt with probate - it was all very straightfoward.  Moving on to this year, I am buying a house, using my inheritance.  'An inheritance?' say the solicitors.  'Of course.  Just send us the solicitors letter detailing your legacy.  What's that?  You did probate YOURSELF?!?!?!'  Thus far I have had to send:

my full estate accounts

a copy of the will

a copy of the grant of probate

a copy of the bank statements for the executor accounts form the period it was active

a copy of my bank statements showing the legacy being paid in

a copy of the bank statements for the executor accounts to date

a copy of my bank statements to date

a copy of the letter from the solicitor who dealt with the sale of the property.

Obviously, these requests have been drip fed over several weeks/months and I don't seem to be any nearer to  buying my house.  I know they have to do money laundering checks but this is silly!  So executors who are beneficiaries - for God's sake, keep your paperwork!!!

lees80

Are you buying a house outright with your inheritance? If so, perfectly adequate that they check you have acted in a lawful way as executor, especially considering the amounts involved.

There's a post on here where a Co-executor has buggered off with 45k of someone else's money. I'd happily provide whatever was asked to please the solicitors requirements and cover myself. 

Flugelhorn

Huh? I am buying a house for cash, from an inheritance where I was sole beneficiary and executor. No-one has asked where the money has come from. Suppose Solicitor did handle the sale of the previous property but never had sight of the will at the time

Keep_pedalling

Flugelhorn said:

Huh? I am buying a house for cash, from an inheritance where I was sole beneficiary and executor. No-one has asked where the money has come from. Suppose Solicitor did handle the sale of the previous property but never had sight of the will at the time

A lot depends on how long you have had the legacy in your own accounts. If it is less than 6 months then you are going to have to show where the money came from.

Dox

katiepoppycat said:

Just wanted to share this experience and vent a little.  My beloved grandmother died last year and as executor and one of two beneficiaries I dealt with probate - it was all very straightfoward.  Moving on to this year, I am buying a house, using my inheritance.  'An inheritance?' say the solicitors.  'Of course.  Just send us the solicitors letter detailing your legacy.  What's that?  You did probate YOURSELF?!?!?!'  Thus far I have had to send:

my full estate accounts

a copy of the will

a copy of the grant of probate

a copy of the bank statements for the executor accounts form the period it was active

a copy of my bank statements showing the legacy being paid in

a copy of the bank statements for the executor accounts to date

a copy of my bank statements to date

a copy of the letter from the solicitor who dealt with the sale of the property.

Obviously, these requests have been drip fed over several weeks/months and I don't seem to be any nearer to  buying my house.  I know they have to do money laundering checks but this is silly!  So executors who are beneficiaries - for God's sake, keep your paperwork!!!

No, not silly -  tedious for you, but very serious if your solicitor pressed on without making adequate checks and it later came to light that your cash didn't quite originate as you claimed. You may be straightforward and honest, but there are plenty of people out there who are anything but. Be grateful (even through clenched teeth) that you have a scrupulous and thorough solicitor acting for you.

badmemory

Your big problem is that you aren't either a drug dealer or a money launderer, if you had have been you wouldn't have had a problem!

katiepoppycat

Thanks for the observations folks . . .flugelhorn, that 6 month guideline might be useful to others - I am within that period.  It's the dripfeeding I think that is really annoying.  They ask for something, spend a week 'processing' it and then need more.  I guess it would have been less irritating if they'd asked for it all at once!

Flugelhorn

Fair enough re the 6 months rule - I have had the money for over a year. Though I was only asked for proof of funds at the time of starting the sale process- provided a statement of the balance on that day, that didn't give any indication of how long it had been there.