Paying to Overseas Beneficiary

AlanXR

One of the beneficiaries resides overseas. I have asked for their bank details so that when the time comes I can remit funds. As this beneficiary is my (estranged) brother, I can verify their ID by video conference when I will ask them to confirm the bank details previously provided. 

Whilst I know he has a UK bank account, can he stipulate that the estate remits the funds to an overseas (non Eu) account? If so, is he or the estate liable for any bank charges and can he complain about the exchange rate used (by any of the banks along the chain)? Or can the estate send him a sterling cheque?

Also do I need him to accept the summary accounts of the estate before remitting him any funds?

Thanks in advance for any thoughts, advice or previous experiences.

Keep_pedalling

If he wants it paid to an overseas account he bares the charges.

No need to ask him to accept the accounts just send them to him when you transfer the money.

Dox

Keep_pedalling said:

If he wants it paid to an overseas account he bares the charges.

No need to ask him to accept the accounts just send them to him when you transfer the money.

I'd pay to the UK account and he is then responsible for onward transfer, including costs and any exchange rate risks.

He only gets the accounts if he is a residual beneficiary. Is he?

AlanXR

Dox said:

Keep_pedalling said:

If he wants it paid to an overseas account he bares the charges.

No need to ask him to accept the accounts just send them to him when you transfer the money.

I'd pay to the UK account and he is then responsible for onward transfer, including costs and any exchange rate risks.

He only gets the accounts if he is a residual beneficiary. Is he?

I’d prefer to pay to the UK bank account but if he doesn’t provide its details ....... Yes, he is a residual beneficiary so would be entitled to see the accounts (of which I have no problem). I presume if he has a problem with them then he has to go via the courts. 

xylophone

My relative contacted the Australian beneficiary who specified AUD through Tor FX The receiving bank in OZ required vast amounts of documentation including a copy of the Will.
All the costs were borne by the beneficiary (residuary) to whom a copy of the accounts was also provided.