Should I cover myself with Gazette notice?

sassyblue

Hi all,

I'm the executor of my father's estate that has difficult beneficiaries (I am one of the beneficiaries too).   They have questioned why I never placed a notice in the Gazette for any creditors to get in touch.

I've never been an executor before and never knew about the Gazette so it's my fault.  I'm 99% confident there aren't any creditors though, I have bank statements going back years and knew about my father's finances because I had LPA and dealt with his finances for several years before he died.  He was never one to borrow money apart from mortgages or get into debt which is good.

I am unsure what to do now as the beneficiaries are difficult.  The estate has taken over three years as they've been falling out amongst themselves and dad's property has taken some time to sell.  They then accused me of holding up the administration of the estate. 

The sale is likely to be at the end of January but if I now place a Gazette notice I am advised not to distribute the estate until the end of February.

What would you advise please?  

Hoenir

You'd normally place a notice shortly after the death to speed the process up (i.e distribution of the estate). After 3 years be somewhat surprising if any creditors remained outstanding. As the executor the liability is potentially personally yours should it arise. The notice is a minimal expense. Choice is yours. No need to debate the decision with others. 

sassyblue

Hoenir said:

You'd normally place a notice shortly after the death to speed the process up (i.e distribution of the estate). After 3 years be somewhat surprising if any creditors remained outstanding. As the executor the liability is potentially personally yours should it arise. The notice is a minimal expense. Choice is yours. No need to debate the decision with others. 

Thanks.  I know what you mean, I'm absolutely not debating anything with them, just weighing up for myself....

RAS

In most circumstances when the executor has been operating an LPA, I'd ignore the difficult beneficiary. Is your difficult beneficiary a solicitor, because they always do this to protect their own backs, which is why their management of estates always take a lot longer.

But since they are difficult, I'd arrange the advert. Then let everyone know distribution can't take place until the after the closing date. 

Keep_pedalling

A notice in the LG only protects the executor from unknown debtors crawling out of the woodwork but not the beneficiaries, so you not placing the advert would only disadvantage you not them.

If you are confident there are no unknown creditors then no need to place one. 

Savvy_Sue

"Dear difficults, I had been hoping to distribute Dad's estate quite soon, but Fred has asked why I haven't placed a notice in the Gazette to ensure there are no unexpected debts. As I was dad's attorney before his death I feel it is unlikely that any such debts exist. In addition, if I do NOT place the notice, any such debts would be my responsibility as executor, not yours as beneficiaries. 

"The cost of placing such a notice would be £?, chargeable to the estate, and I would be unable to distribute the estate until x weeks after placing the notice. 

"Given the above, I do NOT intend to use the Gazette.

"Love and kisses, sweetness and light

"sassy"

I might modify that if there is a professional involved, but they should know better.

The alternative is to tell just the one asking why you're not doing it, but if that would start Chinese Whispers then tell them all ...

user1977

I think there would only be a small minority of estates where a Gazette notice is remotely useful. Any creditors are 99% likely to be predictable ones, not weirdos coming out of the woodwork long after the death claiming they were owed money.

Hoenir

user1977 said:

I think there would only be a small minority of estates where a Gazette notice is remotely useful. Any creditors are 99% likely to be predictable ones, not weirdos coming out of the woodwork long after the death claiming they were owed money.

Surprising what many people don't know about the finances of the estate that are being appointed legally to wind up. The Gazette is a small cost in relation to what many executors claim in say expenses or getting the Council to collect bulky household items. 

Green_hopeful

I helped my mum by dealing with the probate of a family friend. I didn’t put the notice in the gazette. I can’t remember if I didn’t know or decided not to. Then very late I decided to do it. It’s only an extra couple of months and not loads of money. It gives you peace of mind going forward. It doesn’t matter that it’s late I don’t think. 

user1977

Hoenir said:

user1977 said:

I think there would only be a small minority of estates where a Gazette notice is remotely useful. Any creditors are 99% likely to be predictable ones, not weirdos coming out of the woodwork long after the death claiming they were owed money.

Surprising what many people don't know about the finances of the estate that are being appointed legally to wind up. The Gazette is a small cost in relation to what many executors claim in say expenses or getting the Council to collect bulky household items. 

It might be a relatively small expense, but that still doesn't mean it's good value for money.

I have wound up estates professionally in the past, and can't remember any surprise creditors cropping up. I can't remember any being discussed in posts here either.

Hoenir

user1977 said:

Hoenir said:

user1977 said:

I think there would only be a small minority of estates where a Gazette notice is remotely useful. Any creditors are 99% likely to be predictable ones, not weirdos coming out of the woodwork long after the death claiming they were owed money.

Surprising what many people don't know about the finances of the estate that are being appointed legally to wind up. The Gazette is a small cost in relation to what many executors claim in say expenses or getting the Council to collect bulky household items. 

It might be a relatively small expense, but that still doesn't mean it's good value for money.

I found that beneficiaries were more agitated about the expenses I claimed. In fulfilling my late mothers wishes. Not least the scattering of her ashes. Which required a 450 mile drive and an overnight stay.