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Proof of Funds

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  • AskAsk
    AskAsk Posts: 3,048 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    Bogbrush9 said:
    All I want is the Executor bank statement showing the transfer of money from that account to mine.   

    I have been paid from the estate since last May and the money is earning a fair amount of interest while it is sitting in a savings account.

    She can easily do this (even a child could do this) and send it to me on a PDF document and that will mean the end of it.   It has nothing to with her “personal finances”, “security concerns”or “personal relationships” she is simply abusing me and doesn’t want me to own a house where I can call my own.  

    What more can I do, except bring her to court and demand this via a judge?


    sounds like she has it in for you or she is actually doing something dodgy and don't want you or your solicitor to find out.

    you could contact another solicitor and explain to them the situation and ask if they would still want to see the executor bank statement like your existing solicitor.  you may be lucky and find one that will accept your difficult situation and can accept another form of proof of where the funds come from.
  • Bogbrush9
    Bogbrush9 Posts: 16 Forumite
    10 Posts Photogenic
    edited 26 January at 10:13AM
    These are her exact words to the second solicitor:

    ”While wishing to be helpful in this matter, I would like to clarify that I am not a party to this transaction.  I have no relationship either with my sister or your organisation, nor have I personally contributed funds towards this purchase. This means that I cannot provide you with my personal data or any information relating to my personal finances, due to obvious security concerns. As the Executor of my late father’s Estate I am happy to provide you with the specific documentation required to validate my sister’s entitlement to these funds, including the Grant of Probate which gave me the legal authority to administer and distribute his Estate, (proceeds from the sale of his property and ISA and his bank account less expenses).”

    Make of it what you will.   The money came from the Executor account not her personal account.  

    Even if I went to another solicitor and approached my bank for a mortgage the same question will be asked of me.

    Where did I get the money from.   Can you prove the funds were from a legimate source.

  • Sorry your sister is being a !!!!!!, I think the only way is as others have suggested is to take the mortgage then pay it off. If you have one that you can make unlimited overpayments on you could overpay say £9,000 a month, as I think banks only get especially twitchy with amounts over £10,000. 
    Would cost you some interest, but surely your mental health is worth it?
    it is ridiculous though - if it actually stopped money laundering it would be one thing, but it doesn’t!
  • silvercar
    silvercar Posts: 49,524 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Bogbrush9 said:
    These are her exact words to the second solicitor:

    ”While wishing to be helpful in this matter, I would like to clarify that I am not a party to this transaction.  I have no relationship either with my sister or your organisation, nor have I personally contributed funds towards this purchase. This means that I cannot provide you with my personal data or any information relating to my personal finances, due to obvious security concerns. As the Executor of my late father’s Estate I am happy to provide you with the specific documentation required to validate my sister’s entitlement to these funds, including the Grant of Probate which gave me the legal authority to administer and distribute his Estate, (proceeds from the sale of his property and ISA and his bank account less expenses).”

    Make of it what you will.   The money came from the Executor account not her personal account.  

    Even if I went to another solicitor and approached my bank for a mortgage the same question will be asked of me.

    Where did I get the money from.   Can you prove the funds were from a legimate source.

    Most lenders allow you to manage your account online, you can make repayments without speaking to anyone. Even if the lender required you to speak to them to make overpayments, you would be in the situation that the money is coming from your bank account from a previous inheritance, that you can prove. 

    Repaying a mortgage yourself means there is no solicitor involved, which takes that problem out of the equation.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Bogbrush9
    Bogbrush9 Posts: 16 Forumite
    10 Posts Photogenic
    silvercar said:
    Bogbrush9 said:
    These are her exact words to the second solicitor:

    ”While wishing to be helpful in this matter, I would like to clarify that I am not a party to this transaction.  I have no relationship either with my sister or your organisation, nor have I personally contributed funds towards this purchase. This means that I cannot provide you with my personal data or any information relating to my personal finances, due to obvious security concerns. As the Executor of my late father’s Estate I am happy to provide you with the specific documentation required to validate my sister’s entitlement to these funds, including the Grant of Probate which gave me the legal authority to administer and distribute his Estate, (proceeds from the sale of his property and ISA and his bank account less expenses).”

    Make of it what you will.   The money came from the Executor account not her personal account.  

    Even if I went to another solicitor and approached my bank for a mortgage the same question will be asked of me.

    Where did I get the money from.   Can you prove the funds were from a legimate source.

    Most lenders allow you to manage your account online, you can make repayments without speaking to anyone. Even if the lender required you to speak to them to make overpayments, you would be in the situation that the money is coming from your bank account from a previous inheritance, that you can prove. 

    Repaying a mortgage yourself means there is no solicitor involved, which takes that problem out of the equation.

    Would I still need to prove the funds though that is my main question.   I’ve got the money but it’s trying to prove that it was from a legitimate source ie inheritance from my dad’s estate rather than some dodgy deal I made.
  • AskAsk
    AskAsk Posts: 3,048 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    Bogbrush9 said:
    silvercar said:
    Bogbrush9 said:
    These are her exact words to the second solicitor:

    ”While wishing to be helpful in this matter, I would like to clarify that I am not a party to this transaction.  I have no relationship either with my sister or your organisation, nor have I personally contributed funds towards this purchase. This means that I cannot provide you with my personal data or any information relating to my personal finances, due to obvious security concerns. As the Executor of my late father’s Estate I am happy to provide you with the specific documentation required to validate my sister’s entitlement to these funds, including the Grant of Probate which gave me the legal authority to administer and distribute his Estate, (proceeds from the sale of his property and ISA and his bank account less expenses).”

    Make of it what you will.   The money came from the Executor account not her personal account.  

    Even if I went to another solicitor and approached my bank for a mortgage the same question will be asked of me.

    Where did I get the money from.   Can you prove the funds were from a legimate source.

    Most lenders allow you to manage your account online, you can make repayments without speaking to anyone. Even if the lender required you to speak to them to make overpayments, you would be in the situation that the money is coming from your bank account from a previous inheritance, that you can prove. 

    Repaying a mortgage yourself means there is no solicitor involved, which takes that problem out of the equation.

    Would I still need to prove the funds though that is my main question.   I’ve got the money but it’s trying to prove that it was from a legitimate source ie inheritance from my dad’s estate rather than some dodgy deal I made.
    i have paid off a few mortgages before they are due for repayment or paid large sums to reduce the mortgage value and I have never been asked as to where this money has come from.  not sure why ALM is not performed by the mortgage companies but they are happy that the banks ALM are fine, so if your money comes from a bank then they will assume that the bank has already done its due dilligence, which banks do by the way, when there is a large credit into your account as mine has frozen mine in the past when there were large proceeds from a property sale and I had to call the fraud department to give details of where the money came from.

    so to be honest, the solicitors doing more ALM where the money comes from a UK bank account is not really neccessary as ALM checks from UK banks are altready quite tough so if your money is coming from a UK bank account, I am not sure why solicitors are investigating things even further.  It is like they have decided to become the financial police.

    what may be an issue is that there may be a flag on your bank account about the inheritance credit, which solicitors may see, and so they are raising queries.  who knows.
  • silvercar
    silvercar Posts: 49,524 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Bogbrush9 said:
    silvercar said:
    Bogbrush9 said:
    These are her exact words to the second solicitor:

    ”While wishing to be helpful in this matter, I would like to clarify that I am not a party to this transaction.  I have no relationship either with my sister or your organisation, nor have I personally contributed funds towards this purchase. This means that I cannot provide you with my personal data or any information relating to my personal finances, due to obvious security concerns. As the Executor of my late father’s Estate I am happy to provide you with the specific documentation required to validate my sister’s entitlement to these funds, including the Grant of Probate which gave me the legal authority to administer and distribute his Estate, (proceeds from the sale of his property and ISA and his bank account less expenses).”

    Make of it what you will.   The money came from the Executor account not her personal account.  

    Even if I went to another solicitor and approached my bank for a mortgage the same question will be asked of me.

    Where did I get the money from.   Can you prove the funds were from a legimate source.

    Most lenders allow you to manage your account online, you can make repayments without speaking to anyone. Even if the lender required you to speak to them to make overpayments, you would be in the situation that the money is coming from your bank account from a previous inheritance, that you can prove. 

    Repaying a mortgage yourself means there is no solicitor involved, which takes that problem out of the equation.

    Would I still need to prove the funds though that is my main question.   I’ve got the money but it’s trying to prove that it was from a legitimate source ie inheritance from my dad’s estate rather than some dodgy deal I made.
    If you are totally risk adverse, you could always take the money along another stop towards repaying the mortgage. Open a savings account with the mortgage lender. Hold it there for a couple of months and then use it to repay the mortgage. That way the lender can see for themselves that the money came from a savings account and are even less likely to raise questions.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    user1977 said:
    Herzlos said:
    Bogbrush9 said:
    She never used a solicitor in the first place, she did all the work herself, from doing the final accounts to selling the house.
    Has it been audited and confirmed to be correct and above board?

    It would be unusual for executry accounts to be audited. I don't think the OP is suggesting anything is actually amiss with the amount they've received.
    Residual beneficiaries have the right not to approve the Estate accounts. Not just a question of being presented with them and having to accept them. Given the intransigence shown and the lack of a seperate probate bank account. Personally I'd dispute them.  As the inconvenience being caused is beyond comprehension and suggests something's amiss. 
  • Bogbrush9
    Bogbrush9 Posts: 16 Forumite
    10 Posts Photogenic
    edited 27 January at 7:27AM
    She did send me the full set of accounts after she did various checks on me.   She then did another two checks on my account to prove it was going to the right person.   I then split the money three ways so the bulk of the money (96%) was in a high savings account, 2% was in an two year ISA and the rest I used as additional finance for the little things in life.

    I did dispute her accounts and she was “disappointed with me” to do this.  I was forced by her to retract my comments.


    At no point did she send me a note saying that I received the money and would I sign a copy receipt of the funds I received.   She then emailed me five days later saying that did I receive the funds to which I didn’t know what to do under the circumstances because of my autism.   

    She cited that “don’t spend it all at once” and “mum and dad worked hard to get the money”  (wrong because of the bulk of the estate was through her underselling the bungalow by £20k and that £200k was in both their savings).   Again without telling me, that the bungalow was undersold.  

    I got another photo of her conveyancing solicitor (from her via her estate agents) stating in writing that the amount was credited to her account.   She then transferred that money along with the savings to an Executor account to form the estate.   She never paid inheritance tax and that she shaved a further £34k off by various means to avoid doing this.

    She also cited that it could be used for housing and living expenses and for post retirement purposes.   At best she said I could put it in a NS&I account and let it gather interest.   She has  NO right to tell me what I should or shouldn’t do with my share of the inheritance.    

    All I wanted to do was to get a nice house and stop renting.  Currently housed with seven other people and am trying my best to keep my head above water.

    She also states that she has to pay capital gains but has not heard from HMRC whether or not she has to.   That was back in November and then once this was completed she would give me half the money left over minus £2k for the removal of my possessions from the bungalow.

    A contradiction?   I just don’t know what to think anymore.   She is making sure she is in complete control of everything I do.


  • Bigphil1474
    Bigphil1474 Posts: 3,545 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    When I was the executor on my dads estate we did keep back about £10k for any unexpected bills for 6 months. Think we did get a revised bill from the solicitor for a few extra hundred but then we dished out the remnants. 

    If she legally brought down the estate value to avoid paying inheritance tax, that's fine, and pretty common. You can deduct estate expenses, such as funeral costs, maybe costs of clearing the house, etc. If the estate involved a property then the allowance, before IHT is paid, could well have been up to £1 million. If she illegally avoided paying IHT, then she'll be in trouble, not you, as the estate has to pay the IHT.

    The CGT is also payable by the estate, not you, so she might end up having to foot that bill herself. It's generally the difference between the value of the property at probate, to the actual sale price of the property - 40% of the difference, minus whatever allowance is applicable. If the probate price was lowered to deliberately bring the estate below IHT, then that may cause there to be a CGT bill. If she undersold it to try and avoid that, then she might be in trouble for that as well. 

    Yes, obviously she can't decide what you do with the money, but she can be a PITA for you right now. Just a thought, but the bank might not need the same evidence to lend you money - is it worth considering a bridging loan? They are expensive but as you would only need it for a short time, the cost might be worth it. You get approval for the bridging loan which satisfies your solicitor, buy the property, pay off the bridging loan straight away so the lender is happy. Might not have much interest to pay. You would need to speak to a specialist lender though.
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