Distribution to beneficiary

DippySkippy

Finally managed to get probate and have collected assets into exec account. Process made very difficult by other executor who is also beneficiary entitled to large cash legacy. I'd like to pay the legacy and want to make sure I protect myself. The exec account doesnt support cheque payment but I can get the branch to do a transfer to another account. I want to mitigate issues with email security or verbal miscommunication so I have sent her a proforma for her to complete her account details, sign & date and post back to me. Hopefully that will give me protection if the account details are incorrect.

Her first response was an email (rather than postal) with details of what I believe are her solicitor bank account. I'm unhappy as this is her first email for 9 months (she is VERY awkward) asking for it to be paid to a 3rd party and unsigned.

My question is - does a cash legacy have to be paid direct to the beneficiary? any rules or guidance about this?

Thanks

YBR

Given that you have given very specific instructions, if it were me I would not be acting until you have received signed paperwork. Then I'd use whatever details you have been given.

Flugelhorn

WillowLeaf said:

Could be a scam email getting the money in to a scammers bank account. Unlikely but possible. I wouldn't entertain that.

that would be my concern - would need to verify the solicitor etc 

user1977

Flugelhorn said:

WillowLeaf said:

Could be a scam email getting the money in to a scammers bank account. Unlikely but possible. I wouldn't entertain that.

that would be my concern - would need to verify the solicitor etc 

Just contact the solicitor and ask them to verify their account details (and that they act for the beneficiary). I don't think the OP need do more than that.

Grumpelstiltskin

Any thoughts that the beneficiary could be in receipt of means tested benefits and is trying to avoid losing their benefits?

badmemory

Don't forget to confirm the solicitors details from a differnet source.  Belt & braces needed with this.

poseidon1

I see that this has been a long and troublesome journey for you in dealing with this intransigent co-executor/beneficiary. On the plus side the DOV means no ongoing trust and you can ultimately go your separate ways.

Clearly the solicitor will be known to you, but best to contact them direct and for them to confirm (independently) the client account details supplied.

 Also get them to supply written formal receipt of the distribution (in due course) on behalf of the beneficiary, since it appears that will never be forthcoming from the beneficiary.

Finally, if any estate income has accrued during the administration period ( you mentioned a share portfolio), hopefully you have already dealt with any tax liabilities arising therefrom together with possible CGT.

Distributing the estate prior to finalising and settling any income tax /CGT, may leave you personally out of pocket.

Savvy_Sue

user1977 said:

Just contact the solicitor and ask them to verify their account details (and that they act for the beneficiary). I don't think the OP need do more than that.

That would be my course of action as well. I wouldn't send it to a.n.other random person, but a verified client account of a solicitor acting on behalf of the beneficiary should be 'safe'. 

DippySkippy

Thanks everyone for your responses. It has been a drawn out process due to unreasonable other executor employing a belligerent solicitor (as personal advisor not acting for estate) who just blocked everything. Part of issue is no trust in the solicitor she wants us to pay money to. I'm not intending to do anything until get details signed by her confirming amount and account details.

Merry xmas