We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Understanding Letter of Confirmation (First Timer)

Options

Hello,
Looking for any advice as a first time through this process.
Father died in early July and we left behind a small property in Scotland and a small balance of 80k. Will clearly defined myself and 1 sibling as executer and myself and 2 siblings as sole beneficiaries.
Due to the amount we have had to go through Probate, we have worked with a solicitor to ensure this is as smooth as possible. As of today the C1 will be submitted to the courts however I cannot get a definitive answer on exactly what happens next.

I understand you wait 6 months in case anything comes to light but after that do you have to sell the property before distributing the money in the bank as there are no immediate plans to sell due to family ties with the property?

Answers online seem conflicting.

Any help you can give would be very welcome.

Comments

  • You will need to keep enough back to cover the costs associated with the property but you can do an interim distribution with the cash before the property.

    Are all three of you in agreement that the property should not be sold. Holding on to property for sentimental reasons is rarely a good idea especially if you plan to rent it out.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.