Conveyancing Solicitors: Distributing Property Proceeds

boingy

Yep, send him a cheque by recorded delivery. You can probably get a chequebook by requesting one, depending upon the bank.

He can argue as much as he wants but as long as you've distributed the money as per the will he hasn't got a case.

madbadrob

boingy said:

Yep, send him a cheque by recorded delivery. You can probably get a chequebook by requesting one, depending upon the bank.

He can argue as much as he wants but as long as you've distributed the money as per the will he hasn't got a case.

Not exactly true as he could make a claim under the Inheritance Act.  The sibloing with the issue could ask for mediation to try and come to an agreement they are happy with etc.  Just because a will says xyz doesnt always mean in todays litigious society these are being contested or argued against more than before.

As executor the duty for the OP is to pay as per the will. I read some have said Cheque or bankers draft.  What about a bacs transfer.  These are far more secure than the cheque and also give the evidence required that it was paid correctly.  Its what we use for inheritance payments and it means the requiremnt for receipts are not needed 

Rob

Savvy_Sue

The problem with BACS may be extracting the details from the disgruntled beneficiary. 

DancingBadger

Thank you for your suggestions.  

I know the husband's Will will be publicly available.  I'm not fazed by that because it doesn't give any financial information; just the names of the beneficiaries - one of the siblings and me.

Fortunately, the disgruntled adult nephew wouldn't be able to claim under the Inheritance Act as he doesn't meet any of the six conditions stipulated by the Act.

However I make payment to the beneficiaries of the sale of the house, I'll also include a copy of the wife's Will which names them, and a breakdown of the sale price, showing legal fees and estate agent's commission. 

madbadrob

Savvy_Sue said:

The problem with BACS may be extracting the details from the disgruntled beneficiary. 

Yes I hadnt considered that point.  Thx sue

Rob

Savvy_Sue

madbadrob said:

Savvy_Sue said:

The problem with BACS may be extracting the details from the disgruntled beneficiary. 

Yes I hadnt considered that point.  Thx sue

Rob

Not only that, but there's a limit to what can be transferred by BACS - when we sold the parental home the share to be sent to each beneficiary was way above that limit! I'd have happily paid for CHAPS, I didn't particularly want to make multiple BACS payments over the course of I think more than a week, but my siblings said I could post cheques to them all. So that's what I did. 

JGB1955

Savvy_Sue said:

madbadrob said:

Savvy_Sue said:

The problem with BACS may be extracting the details from the disgruntled beneficiary. 

Yes I hadnt considered that point.  Thx sue

Rob

Not only that, but there's a limit to what can be transferred by BACS - when we sold the parental home the share to be sent to each beneficiary was way above that limit! I'd have happily paid for CHAPS, I didn't particularly want to make multiple BACS payments over the course of I think more than a week, but my siblings said I could post cheques to them all. So that's what I did. 

I was able to send six figure payments to beneficiaries by BACS, in single transactions,  because we all (fortuitously) banked with Nationwide.