Beneficiary won’t acknowledge receipt of final (residual) distribution

Glum_to_the_end

Have I fully completed my obligations as Executor if one person has not banked their cheque or confirmed (using the SAE and pre-printed acknowledgement letter I supplied) the receipt of Estate Accounts and their share of the final distribution ?

The individual has replied to an email to confirm they “think” it arrived, but is probably in a backlog of mail they have to “go through”. I have Royal Mail signed for proof of delivery.

As the funds currently remain in a bank account in my name, and the cheque was dated two months ago, would it be best I) transfer the funds to a separate savings account II) cancel the cheque III) advise them of my actions and await their response ?

Savvy_Sue

I'd give it 6 months before moving it anywhere, and I'm not sure I'd move it anyway. If the amount increases through interest payments, who gets that interest?

I'd say you've done all you need to.

Does this person need help, and would they accept it if offered?

SiliconChip

Is there any possibility that the beneficiary might supply you with the sortcode and account number of their own account? if so I'd cancel the cheque and transfer the money to get it out of your account as quickly as possible.

Grumpelstiltskin

Do you think there is any chance the beneficiary is in receipt of a means tested benefit and the amount is large enough to make a difference to the benefit?

Notepad_Phil

https://forums.moneysavingexpert.com/discussion/comment/81996011#Comment_81996011

I guess a bank's Confirmation of Payee would cut down the possibility of someone somehow substituting the details of a third person in this, and doing a small test payment first would help too, but a cheque would definitely still be my preferred method of payment even if it does add some difficulties.

Glum_to_the_end

Thanks, all.

I’ll leave the cheque as valid for the meantime. I note the point about transferring to a savings account – it’s not my money, but I’d get taxed for any interest.

They may well need help, so I’ll ask of their family, and if there are any circumstances I’m not aware of that would explain why the Beneficiary has a reason to not want to deposit the cheque. I doubt that they are in receipt of benefit, and that would be the reason – but there may be other explanations.

With an unpredictable response to my correspondence to date, any absence of them confirming even a test payment (should they supply me with bank details) makes me think a full transfer by BACS isn’t an option here.

I don’t think there’s much else I can do.