Will payment be made before house sells?
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Tiswas999
Posts: 9 Forumite
Hi.
I'm writing this on behalf of my mum really. Last Nov 20, she was contacted by a chap advising that an elderly relative had died and had left my mother and auntie something in her will. He lived next door to the relative and is the executor. Apparently the will is - The house left to his wife, and then savings etc split 3 ways - to him, my aunt and my mum. I guess they have done a lot for her over the years so no issue with that.
I am relying on my mum and aunt speaking to the executor about once a month. The last update is that its going through probate with a solicitor, and we should hear around April time.
My main question is, would my mum and aunt need to wait for the sale of the house before the are given any of their share? We have no idea of what their intention is for the house - sell, rent or keep. My gut says no they wouldn't have to wait but just wanted to know. I believe the money to be paid is from savings and pensions.
Many thanks and sorry if this is the most simplest question ever. I do most things for my mum after my dad died last year so i feel this is a bit too vague for my liking. We don't know this man other than when he has contacted mum but i've no reason to doubt what he is saying.
Thanks
I'm writing this on behalf of my mum really. Last Nov 20, she was contacted by a chap advising that an elderly relative had died and had left my mother and auntie something in her will. He lived next door to the relative and is the executor. Apparently the will is - The house left to his wife, and then savings etc split 3 ways - to him, my aunt and my mum. I guess they have done a lot for her over the years so no issue with that.
I am relying on my mum and aunt speaking to the executor about once a month. The last update is that its going through probate with a solicitor, and we should hear around April time.
My main question is, would my mum and aunt need to wait for the sale of the house before the are given any of their share? We have no idea of what their intention is for the house - sell, rent or keep. My gut says no they wouldn't have to wait but just wanted to know. I believe the money to be paid is from savings and pensions.
Many thanks and sorry if this is the most simplest question ever. I do most things for my mum after my dad died last year so i feel this is a bit too vague for my liking. We don't know this man other than when he has contacted mum but i've no reason to doubt what he is saying.
Thanks
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Comments
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Tiswas999 said:Hi.
I'm writing this on behalf of my mum really. Last Nov 20, she was contacted by a chap advising that an elderly relative had died and had left my mother and auntie something in her will. He lived next door to the relative and is the executor. Apparently the will is - The house left to his wife, and then savings etc split 3 ways - to him, my aunt and my mum. I guess they have done a lot for her over the years so no issue with that.
I am relying on my mum and aunt speaking to the executor about once a month. The last update is that its going through probate with a solicitor, and we should hear around April time.
My main question is, would my mum and aunt need to wait for the sale of the house before the are given any of their share? We have no idea of what their intention is for the house - sell, rent or keep. My gut says no they wouldn't have to wait but just wanted to know. I believe the money to be paid is from savings and pensions.
Many thanks and sorry if this is the most simplest question ever. I do most things for my mum after my dad died last year so i feel this is a bit too vague for my liking. We don't know this man other than when he has contacted mum but i've no reason to doubt what he is saying.
ThanksGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!2 -
Thank you Marcon. Just very clueless about all this0
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As Marcon says, it depends. The executors could make interim payments on account, but it would be normal, and perfectly reasonable, for them to decide not to distribute the liquid assets like savings, or not to distribute them all, until the house is sold, to ensure that they have funds available to pay things such as insurance on the house, the cost of any maintenance or upkeep needed pending sale, funeral costs, debts etc , and they may well be reluctant to make interim payments until sale is agreed, as they won't know how long that will take and what costs might be incurred.
Of course, the higher the value of the other assets, the more likely it is that it will be reasonable for them to make some interim paymentsAll posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)1 -
Did he leave any "cash" to his wife?
Seems quite odd otherwise.
How's it going, AKA, Nutwatch? - 12 month spends to date = 2.38% of current retirement "pot" (as at end April 2024)1 -
As I see it insurance etc for the house should not be coming out of the estate.
If the wording is correct then the house was given to the beneficiary. The instructions were not sell it. Surely the onus is now on the beneficiary to insure, pay estate agent fees etc until SHE sells it?1 -
Sea_Shell said:Did he leave any "cash" to his wife?
Seems quite odd otherwise.1 -
If your quote is accurate, the house has nothing to do with your mum's/aunt's inheritance, it is totally separate. If, as you say, the Will states that they will get an equal share of his existing savings etc., they can be given their share as soon as the Executor has finalised the Estate including paying any outstanding debts, benefit over-payments etc.1
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Flugelhorn said:Sea_Shell said:Did he leave any "cash" to his wife?
Seems quite odd otherwise.0 -
The OP states that the executor of the deceased has advised his mother that she and his aunt have each been bequeathed a share of savings etc standing to the deceased's account(s) at the date of death.
It appears that the deceased's house has been bequeathed to the executor's wife.
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My experience is that estates always take longer than you expect to be sorted out and bequests longer to be distributed than you think likely. So whether the delay is for the house to sell or for something else, I predict there will be a wait after April.
But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll1
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