Distribution of estate now Grant of Probate issued

Bolt1234

I am executor of late DF will.  There are a number of bank accounts and shares to cash in.  It’s a significant estate.  No IRT to pay due to Business Relief shares. Can we start to release monies once they start to come in?  Solicitor is collecting the money.  No house to sell btw.

I don’t want to be waiting for a few thousand and the rest of the estate is held up.

Keep_pedalling

Yes, you can make interim payments, although I would not drip fees with lots of small ones.

RAS

The solicitor can make an interim payment but they will charge for that, quite possibly doing a set of interim accounts, which costs £money. 

If you'd chosen to do probate yourself it would have been easier and cheaper to do it. Not least as solicitors take a lot longer to act and will not take risks that family member might consider.

One beneficiary needed money to a deadline, so we had an interim distribution c90% of value and got the rest later. 

Bolt1234

Thank you. Solicitors have confirmed we can do majority of estate but it might be prudent to keep back say £30k.  More than happy with that. 90% of shares are with Triple Point and they have done their job re mitigating inheritance tax.

Sarahspangles

OH as executor for his parents has just done this, at the six-month point all the assets had been sold, accounts closed and money transferred to the executors’ account. About 5% has been held back from distribution, there are some minor transactions still to come and there’s headroom for any unexpected bills. This is purposely sitting in a non-interest-bearing account as otherwise there would be yet another return to do for interest.