Executor accounts

xylophone

Who got named on the grant?

Both executors (see above).

The first  named exor is the "non traveller" 

and the second named exor  is the "traveller" who is causing all the problems.

GrannyKate

The bank will normally pay the funeral bill direct to the undertakers from the money they hold.

mass236

Hi My Father passed away and to keep my question simple his estate is about £100,000 which is money in the bank ..there is no actual property as this was taken care of by another probate when my mother passed away years before..

I ve had a quote of £4000-£5000 solicitor fee to sort out the Probate for my father the beneficiaries are myself and my sister so 2.....So my question is am i getting ripped off by the solicitor and what would a ball park figure should it be??

Thank you for any replies

xylophone

This executor (who left), will not allow the other executor (who finally sorted everything out) to open an account for the funds to be disrupted unless they both have to sign for it. 

The dispute is putting it into another account so it can be equally distrusted and bills can be paid from it, ie the funeral etc. 

Distributed.......

https://www.todayswillsandprobate.co.uk/guest-writers/how-do-remove-exeuctor/ may be of interest.

In this particular case, it is not unreasonable for the "travelling" second named exor to want to have joint control of the distribution of the assets of the estate.

However, it is unreasonable not to provide details of his current address and not to respond to requests to begin the process of marketing your grandfather's house.

He is  failing in his legal duty to collect in the estate and administer it correctly in the interests of the beneficiaries.

With regard to payment for the funeral, assuming that this bill has not yet been paid, the Funeral Director can submit his bill direct to the bank where your grandfather's account is held.

Although it will be a cost to the estate, might it be easier all round to employ a solicitor?

All  the money in the deceased's bank account/sale proceeds  of the property could then be held in the solicitor's account and distributed by him in  accordance with the provisions of the will.

JGB1955

mass236 said:

Hi My Father passed away and to keep my question simple his estate is about £100,000 which is money in the bank ..there is no actual property as this was taken care of by another probate when my mother passed away years before..

I ve had a quote of £4000-£5000 solicitor fee to sort out the Probate for my father the beneficiaries are myself and my sister so 2.....So my question is am i getting ripped off by the solicitor and what would a ball park figure should it be??

Thank you for any replies

It would be better if you started your own thread rather than tag on to someone else's, but to quickly answer 'Yes', that's a total rip-off.  You can do it yourself for £215'.  
see Applying for probate: Apply for probate - GOV.UK (www.gov.uk)

naedanger

JGB1955 said:

mass236 said:

Hi My Father passed away and to keep my question simple his estate is about £100,000 which is money in the bank ..there is no actual property as this was taken care of by another probate when my mother passed away years before..

I ve had a quote of £4000-£5000 solicitor fee to sort out the Probate for my father the beneficiaries are myself and my sister so 2.....So my question is am i getting ripped off by the solicitor and what would a ball park figure should it be??

Thank you for any replies

It would be better if you started your own thread rather than tag on to someone else's, but to quickly answer 'Yes', that's a total rip-off.  You can do it yourself for £215'.  
see Applying for probate: Apply for probate - GOV.UK (www.gov.uk)

To add to the above, yes a total rip off. I agree it should be easily done yourself, but if you really don't want to then I would have thought the total for a solicitor doing it should be from £750 to £1,500 (including probate fee and including VAT), but not including distribution i.e. you would need to collect the money and distribute once you had probate. It is probably two or three hours work with most of the work being for an admin person.
If the amount in the estate is less than £100,000 then it is worth checking you actually need probate. Lloyds/Bank of Scotland limit is (or at least was) £100,000.
 https://www.telegraph.co.uk/personal-banking/current-accounts/banks-accused-inviting-fraudsters-go-dead-peoples-money/

emmajayne.roberts

getmore4less said:

Who got named on the grant?

Both of them 

mkGlasgow

My sister and I are sole executors and beneficiaries for our deceased father’s estate. We are in the process of applying for probate. We completely trust each other and the deceased account has remained open for some time now to pay for funeral and utilities on his property. It has less than 10k in it. Everything has been documented. Do we need to close the account or can we keep it open for convenience? Thank you.

p00hsticks

mkGlasgow said:

My sister and I are sole executors and beneficiaries for our deceased father’s estate. We are in the process of applying for probate. We completely trust each other and the deceased account has remained open for some time now to pay for funeral and utilities on his property. It has less than 10k in it. Everything has been documented. Do we need to close the account or can we keep it open for convenience? Thank you.

Strictly speaking I think you should have informed the bank immediately after the death and they then would have either frozen the account (allowing a payment for funeral expenses) or, as the sum is relatively small, let you withdraw the balance without probate and then closed it. 

In your shoes, I'd open a separate account (in either your, hers or joint names) to use for the estate expenses and to receive any monies in. It doesn't need to be a formal executors account, just one to keep all the estate dealings together. 

mkGlasgow

p00hsticks said:

mkGlasgow said:

My sister and I are sole executors and beneficiaries for our deceased father’s estate. We are in the process of applying for probate. We completely trust each other and the deceased account has remained open for some time now to pay for funeral and utilities on his property. It has less than 10k in it. Everything has been documented. Do we need to close the account or can we keep it open for convenience? Thank you.

Strictly speaking I think you should have informed the bank immediately after the death and they then would have either frozen the account (allowing a payment for funeral expenses) or, as the sum is relatively small, let you withdraw the balance without probate and then closed it. 

In your shoes, I'd open a separate account (in either your, hers or joint names) to use for the estate expenses and to receive any monies in. It doesn't need to be a formal executors account, just one to keep all the estate dealings together. 

Thank you. That was very helpful.