Distribution of assests

Crazycatlady2

My fil passed away last year and as executor I've received probate and started contacting to receive his money from various please

My question is about what happens then. There are some fixed amounts to pay first but remainder split 5 ways with one person receiving theirs at £50 a away. How exactly do I do that please?

Also person who inherited house has been quoted a fee to have deeds put into there name. Is this fee paid from estate or their own pocket please

Many thanks 

Brie

There are some fixed amounts to pay first but remainder split 5 ways with one person receiving theirs at £50 a away. 

I must admit I don't know what you are trying to say.  Is one person to received £50 a DAY?  Why would this be required if that is what has been requested.  If it's to avoid an issue with benefits I doubt it will work.  

Also person who inherited house has been quoted a fee to have deeds put into there name. Is this fee paid from estate or their own pocket please

I would have thought this was an expense for the estate not the heir.  But I am not an expert.  

Keep_pedalling

Crazycatlady2 said:

My fil passed away last year and as executor I've received probate and started contacting to receive his money from various please

My question is about what happens then. There are some fixed amounts to pay first but remainder split 5 ways with one person receiving theirs at £50 an away. How exactly do I do that please?

I think there may be a typo in that sentence not sure what you are asking.

Also person who inherited house has been quoted a fee to have deeds put into there name. Is this fee paid from estate or their own pocket please

Many thanks 

If the executor is transferring the house rather than selling it, then  I would see that as general estate expenses. 

Crazycatlady2

Thankyou yes definitely a typo it should say £50 a month 

Newly_retired

I don’t see how that is supposed to work. How much are we talking about?  How long will that take? As executor you might not want to hold onto the account until the beneficiary has received all their monthly payments if it is several years. 

Crazycatlady2

Neither do I which is why I'm hoping someone can direct me as to how to do it 🤣 it's madness so asked solicitors too but first time I asked said we have to do it way will says 

Newly_retired

I’m guessing the will was written this way to avoid someone losing their means-tested benefits? They can have capital of up to £6000 without affecting their benefits. If it’s a huge sum, they could come off benefits and have a better lifestyle, but it depends how much the legacy is. Normally a Deed of Variation could be made to change the will,  but I don’t think you can do that if it adversely affects someone on benefits. But I am not a lawyer.

Crazycatlady2

They are on benefits and it's much more than that. To put it bluntly I think it's to stop them spending it all on drugs or wasting it all but hopefully a solution can be found 

Keep_pedalling

Crazycatlady2 said:

They are on benefits and it's much more than that. To put it bluntly I think it's to stop them spending it all on drugs or wasting it all but hopefully a solution can be found 

The normal way to do this would be to put the inheritance in trust, I don’t think this clause is either enforceable or protects the beneficiary’s means tested benefits. How much are we talking about here?

Crazycatlady2

I don't know how it will affect there benefits but assuming some will stop as it's over £16k paid in small amounts I don't know if it's same. I don't know how to set up a trust though

Keep_pedalling

Crazycatlady2 said:

I don't know how it will affect there benefits but assuming some will stop as it's over £16k paid in small amounts I don't know if it's same. I don't know how to set up a trust though

A trust can only be set up if the will includes a clause that creates one, this sounds like an absolute gift with an unusual drip feed clause.