We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Executor's Tax on Savings
Options
Comments
-
I can see them saying it was implicit in the contract that all proceeds of the estate are to be held by them,
What contract?
What does the contract say? It either says all proceeds to be held by them or it doesn't.
Do the solicitors hold any if the estate money?
In any case, the money is not your mother's and should not be held in her bank account.
It should be held separately, with her as executor.
it is nothing to do with your mother's tax position or her submitting self assessment return.
Any self assessment return she submits for the estate is for estate income only.
it sounds as if your mother may be out of her depth in managing the estate affairs and should be getting advice.
1 -
A lot of what you do here is dependent on who the executor actually is & how the will is worded. It sounds like everything is left to all relatives of a certain degree of closeness. So I would be looking at how many more relatives can turn up & get their share from the amount the solicitor is holding. I do however appreciate the difficulty in opening an executors account. You will find many on here saying they haven't been able to.
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards