Duty of Confidentiality?

MoneySeeker1

As it was a percentage then - she is entitled to know how much the amount is that she is getting a percentage of (so she can check whether she's getting 5% or if the "starter amount" indicates that the cash sum she is being offered is less than 5%).

No option for it but to grit teeth and hand over full accounts to her. If the law says so = the law says so.

hog_man

MoneySeeker1 said:

...No option for it but to grit teeth and hand over full accounts to her. If the law says so = the law says so.

As I've already said, she's had a full set of the Final Accounts which include the bank balance at the date of dad's death. It was when she received them that she started asking to see earlier bank statements!!

Keep_pedalling

hog_man said:

MoneySeeker1 said:

...No option for it but to grit teeth and hand over full accounts to her. If the law says so = the law says so.

As I've already said, she's had a full set of the Final Accounts which include the bank balance at the date of dad's death. It was when she received them that she started asking to see earlier bank statements!!

And that is more than you need to provided. 

getmore4less

If they want to dispute the estate accounts the court could order you to release more details.

Have they put the dispute in writing? 

MoneySeeker1

I used the words "full accounts" - ie full....fulll....full.
Full meaning everything/all/nothing missing. Meaning including the ones prior to death.

hog_man

getmore4less said:

If they want to dispute the estate accounts the court could order you to release more details.

Have they put the dispute in writing? 

Thanks ~ I realise they could sue me but I'm trying to avoid it! And no, there's nothing from them in writing.

MoneySeeker1 said:

I used the words "full accounts" - ie full....fulll....full.
Full meaning everything/all/nothing missing. Meaning including the ones prior to death.

As far as I'm aware, the accounts are already full as I've included everything since the date of dad's death. Your reply brings us back to the original question of what exactly the law requires which brings me back to my original question!

According to the Co-op Legal Services website "Each asset of the Estate should be detailed, such as money, property and personal possessions, with the value of that item as at the date of death. Every liability (debt) of the Estate should also be detailed along with its value."

Assuming though that you're correct, that raises more questions:
How far back should I go? One month? Six months? A year?
What should I include in order to ensure accounts are 'full' ~ utility bills/insurance premiums/supermarket receipts/credit card bills/mortgage interest statements/etc/etc?
Where would you recommend I draw the line?

getmore4less

The requirement is to provide an "inventory and account"
Inventory. 
List of assets at DOD(with value) I think a brief description is enough no need for account details and certainly not detailed history of the assets prior to death. 

Account of what happened to the assets and where they went.

If nothing in writing you can decide to ask for the reason for the request in writing and then decide how you want to respond. 

Mojisola

hog_man said:

As far as I'm aware, the accounts are already full as I've included everything since the date of dad's death. Your reply brings us back to the original question of what exactly the law requires which brings me back to my original question!

According to the Co-op Legal Services website "Each asset of the Estate should be detailed, such as money, property and personal possessions, with the value of that item as at the date of death. Every liability (debt) of the Estate should also be detailed along with its value."

I wouldn't give any further information in the circumstances you describe - it sounds as if every time you provide more information, it will lead to more questions and more demands.

You have given the full accounts as required.

How likely is it that the beneficiary would spend money on solicitors when the inheritance is 5% of the estate?

MalMonroe

Can't you just ask the solicitor involved to deal with this person? That's what I'd do and hope it's not wrong because I'm a named executor for someone who at the moment is still alive and well and hope it remains that way 'cos I didn't really want to have that responsibility! If there's a will and beneficiaries, there's bound to be a solicitor. Let them earn their money. Is what I think. 

Mojisola

MalMonroe said:

Can't you just ask the solicitor involved to deal with this person? That's what I'd do and hope it's not wrong because I'm a named executor for someone who at the moment is still alive and well and hope it remains that way 'cos I didn't really want to have that responsibility! If there's a will and beneficiaries, there's bound to be a solicitor. Let them earn their money. Is what I think. 

If the lay executors are happy to do the job, there's no need to involve a solicitor.

If one does get instructed to do some or all of the work, they will charge for everything they do - not so much a case of them 'earning their money' as them 'costing the estate a great deal'.