Inheritance dispute

p00hsticks

msb1234 said:

If you’re concerned that they will do something untoward with your bank details, just open another bank account, get the funds paid in there and transfer it into your main account then close the new one. Starling do online bank accounts and are easy to set up. 

Personally I'd be very wary of doing this. Setting up a new account, receiving a large payment into it and quickly transferring it out again is a classic scammer / money launderer type action and runs the risk of getting accounts frozen and/or flagged up as potentially fraudulent.

Alphatauri

@p00hsticks I’ve found if you phone the banks security department before you do the money transfers they will make a note so they know it’s you making the transfers.

I did this when I had a very complicated transfers to do on large sums of money from 3 different sources. I was as specific as I could be and they took very detailed notes. I had no issues. 

TripleH

@Alphatauri's suggestion is sensible provided it's done before any transfers are made.

Ideally having a copy of the accounts available as well showing the (approximate) amount and also why such a large sum is coming in to your account.

J63320

p00hsticks said:

 I don't want to have to gather the bank details of a whole load of people, set them up as new payees via online banking and then have no way of knowing whether they actually receive the money unles they have the common courtesy to let me know. 

As executor you need to get receipts from the beneficiaries. When I handled my Mum’s estate I wrote one out for them to sign and included it with the cheque, plus an SAE to post it back.

Savvy_Sue

J63320 said:

p00hsticks said:

 I don't want to have to gather the bank details of a whole load of people, set them up as new payees via online banking and then have no way of knowing whether they actually receive the money unles they have the common courtesy to let me know. 

As executor you need to get receipts from the beneficiaries. When I handled my Mum’s estate I wrote one out for them to sign and included it with the cheque, plus an SAE to post it back.

You don't HAVE to get receipts. Admittedly my payments were all to siblings, and I used to tell them money was coming.

msb1234

Alphatauri said:

@p00hsticks I’ve found if you phone the banks security department before you do the money transfers they will make a note so they know it’s you making the transfers.

I did this when I had a very complicated transfers to do on large sums of money from 3 different sources. I was as specific as I could be and they took very detailed notes. I had no issues. 

 I sent money to my 3 siblings from a new account I had set up before I opened the executor account. In order to pay then £2k each, I had 3 phone calls from the fraud team to check it as legit before they would release the money.

Ms_Chocaholic

Can you open a bank account that you only use for this transaction?  You will be able to do this online.

Pennylane

J63320 said:

p00hsticks said:

 I don't want to have to gather the bank details of a whole load of people, set them up as new payees via online banking and then have no way of knowing whether they actually receive the money unles they have the common courtesy to let me know. 

As executor you need to get receipts from the beneficiaries. When I handled my Mum’s estate I wrote one out for them to sign and included it with the cheque, plus an SAE to post it back.

I did that, asking the beneficiary to acknowledge receipt of the cheque and Estate Accounts and included a SAE but they never did so.  They are just ignorant pigs who caused nothing but stress and upset.  The very next day after they received the cheque (Signed For) the Bank rang me to ask whether they could process it so they were there as soon as Bank opened just as I expected.  😉

msb1234

Pennylane said:

J63320 said:

p00hsticks said:

 I don't want to have to gather the bank details of a whole load of people, set them up as new payees via online banking and then have no way of knowing whether they actually receive the money unles they have the common courtesy to let me know. 

As executor you need to get receipts from the beneficiaries. When I handled my Mum’s estate I wrote one out for them to sign and included it with the cheque, plus an SAE to post it back.

I did that, asking the beneficiary to acknowledge receipt of the cheque and Estate Accounts and included a SAE but they never did so.  They are just ignorant pigs who caused nothing but stress and upset.  The very next day after they received the cheque (Signed For) the Bank rang me to ask whether they could process it so they were there as soon as Bank opened just as I expected.  😉

If you sent the cheque signed delivery, why would you need a receipt? The fact that the cheque has been signed for and cashed is proof enough that its been received by the recipient. Also, what exactly is wrong with paying in a cheque as soon as its received?

Mojisola

msb1234 said:

If you sent the cheque signed delivery, why would you need a receipt? The fact that the cheque has been signed for and cashed is proof enough that its been received by the recipient.

Our solicitor added a bit to say that cashing the cheque would be seen as acceptance of the accounts.