Solicitors not making inheritance payments until all beneficiaries return bank details? I

ProbateNewbie

It is frustrating.

It's not fair that everyone is having to wait for the 2 non responsive ones.
 Why should the ones who have produced the required info be penalised?!

sweet_charriot

I and my Brother are the Executors of our late Mums estate and there are no other beneficiaries Probate is now completed before our Solicitor will pay out anything they want to see copies of our bank statements and bank details. So my Bank statement will be floating around some offices, dont think so had a word with my Bank they agree and are supplying a 2 day statement.

Marcon

sweet_charriot said:

I and my Brother are the Executors of our late Mums estate and there are no other beneficiaries Probate is now completed before our Solicitor will pay out anything they want to see copies of our bank statements and bank details. So my Bank statement will be floating around some offices, dont think so had a word with my Bank they agree and are supplying a 2 day statement.

Good to hear your solicitors are being scrupulous about protecting you from scammers - always a good idea in a world increasingly populated by scams. 

doodling

Hi,

Marcon said:

sweet_charriot said:

I and my Brother are the Executors of our late Mums estate and there are no other beneficiaries Probate is now completed before our Solicitor will pay out anything they want to see copies of our bank statements and bank details. So my Bank statement will be floating around some offices, dont think so had a word with my Bank they agree and are supplying a 2 day statement.

Good to hear your solicitors are being scrupulous about protecting you from scammers - always a good idea in a world increasingly populated by scams. 

In what way does asking for a readily foregable document protect anyone from scammers?  It is simply more stuff that looks like security but isn't.

The only secure way (unless the solicitor already has a relationship with the person in question) is for the solicitor to validate identity in person using documents, including photo id, which are designed to be difficult to forge, and take the bank details at the same time.  Anything else is window dressing.

Note that there is no obligation for a beneficiary to have a bank account at all - how would the solicitor cope with that?

sheslookinhot

Why do solicitors have estate funds at all ? Surely all funds should be transferred to estate executors.

silvercar

[Deleted User] said:

doodling said:

Note that there is no obligation for a beneficiary to have a bank account at all - how would the solicitor cope with that?

They would send a cheque.

So why not send a cheque to those that haven’t supplied bank details?