Dividing Estate

slackgarry

Who decides the order in which people get paid out from the estate.
The Solicitor get's paid 1st, Then all the beneficiaries who have set amounts. Then the rest is split among those who mentioned as having say a third between them.

Maybe not a good choice of words or explanation for this question. But I hope you understand.. Reason being one sibling is telling the solicitor his half of the family should be paid before the other sibling who has no children.

Emmia

slackgarry said:

Who decides the order in which people get paid out from the estate.
The Solicitor get's paid 1st, Then all the beneficiaries who have set amounts. Then the rest is split among those who mentioned as having say a third between them.

Maybe not a good choice of words or explanation for this question. But I hope you understand.. Reason being one sibling is telling the solicitor his half of the family should be paid before the other sibling who has no children.

The amounts for each beneficiary should be worked out, and then distributed by the Solicitor at the same time. So the person with a £10k gift will receive that, as a cheque or bank transfer at the same time as the person who gets 30% of the estate after gifts.

And obviously any tax due and the Solicitor's bill is settled first by the estate before any money is distributed.

Why does your sibling think it would be any other way?

Keep_pedalling

There is no strict order in which beneficiaries receive their inheritance, a solicitor could do them all together or more likely the minor beneficiaries and those with larger set sums will receive theirs ahead of the residual beneficiaries as the amount going to them won’t be known until the accounts are finalised and all debts, expenses and assets have been identified.

Sometimes residual beneficiaries may get interim payments, but the solicitor is unlikely to be influenced by a request to treat one lot of beneficiaries mor favourably than another.

sheramber

slackgarry said:

Who decides the order in which people get paid out from the estate.
The Solicitor get's paid 1st, Then all the beneficiaries who have set amounts. Then the rest is split among those who mentioned as having say a third between them.

Maybe not a good choice of words or explanation for this question. But I hope you understand.. Reason being one sibling is telling the solicitor his half of the family should be paid before the other sibling who has no children.

I am sure the solicitor is well awre of how things should be done.

Is he accepting what these people are telling him to do?

thegreenone

Presuming the solicitor is the Executor.  Exactly what you've said.

Once all the money has been gathered in they should take their fees; pay the EA if there was one; pay any outstanding bills (ie funeral director);send the set amounts to the beneficiaries and then divide the remainder to pay the residual beneficiaries. 

As Emmia says, this should all be done very quickly (prob within an hour).