Beneficiary problems

jo03gra

the estate funds totalled £250k 4 years ago and the property is only worth about £100k but currently marketed for £130k

Apparently the money is in a client account but doesn’t earn any interest according to my Auntie who is also a benefactor after speaking to the solicitor 🤷‍♀️

There has never been any suggestion or mention of interim payments.

jo03gra

sorry that was a confusing response from me.

There is an amount of £250k from isas and other policies which was all sorted years ago from what I’ve been told.
The only issue is the property sale. Property worth aprox £100k

But also 2 beneficiaries have passed away so now a genealogist is tracing their next of kin.

If the property sold before these other people were located would everyone else get their inheritance or would this be another hold up?

and why wouldn’t this £250k cash not be earning interest?

Mands

https://forums.moneysavingexpert.com/discussion/comment/81904768#Comment_81904768

Ok, so liquid assets have been realised and total about 250k.

The unsold house is worth around 100k.

2 beneficiaries have died. Whilst that is sad and an administrative complication it shouldn't delay your mother's bequest.

Your mother's total inheritance appears to be around 35k.

In light of the time it has been since the death it would be entirely reasonable to ask for an interim payment. If she asked for 15k or 20k that can be paid out of the liquid assets. She then gets the balance when the house pays.

jo03gra

It does seem to be a reasonable request.

My mother is early 80’s and she’s worked so hard all her life and she was so shocked to learn she’d been left something in her late cousin’s will. She isn’t pushing for anything personally but I just want her to benefit from it. It will literally be the first time in her life she’s had anything.

I just wondered if the 4 years and still no end in sight is normal when there is a will.
Thank you

Newly_retired

My husband died almost three years ago and because of a complication relating to his mother’s estate we have not been able to finalise his estate accounts. That hasn’t stopped us distributing the majority of the estate, keeping sufficient back to deal with any outstanding costs before the final distribution.
In your situation, given the amount of cash available, I would have expected your mother to have received at least an interim distribution. But solicitors will probably be reluctant to agree.

RAS

Maybe talk to the other cousins and all write asking for an interim distribution? We did this as admins with three beneficiaries and legal help, because one wanted cash for a specific project with a tight timescale. But it was made to all of us .

jo03gra

I will definitely suggest this. I feel that if it was going to be a consideration the solicitors would already have done this, especially considering my mum and Auntie have started to put on a bit more pressure. My worry is because they’re all elderly, my mum and Auntie being the youngest at 81 and 79 that the others just aren’t interested or don’t need the money in any hurry. Also they don’t have contact details for the executor and some of the other cousins.
Thank you so much for your advice, I really appreciate it.

gplion55

Your mother can contact the solicitor by letter if you have their details. She needs to state that she is a beneficiary (she would have to have been officially informed of this if that is the case). You can request politely that the executor contact you and provide you with an update.

jo03gra

Hi yes I’m going to speak to her on Friday and I will suggest this.

Thank you

IOWJJBTM2025

https://forums.moneysavingexpert.com/discussion/comment/81903891#Comment_81903891

Hi,

Yes there was a will. There is problems with the property. Parts were sold a few years before he passed away and the land registry plans need to be corrected before it can be sold.