Informing Beneficiaries

WYSPECIAL

When executing a Will is there any point before distribution that you are obliged to tell beneficiaries that they have been left something?

I realise that once probate is granted it is a public document but they are unlikely to find out that way and there is no reason why they should expect anything.

Probably sounds a bit odd but it would be better for this person if they didn't find out about this gift until they have to.

Robin9

I wouldn't - it may be when all the sums are done there isn't enough in the kitty for the bequest to be made good.

Brie

Some might wonder what you are trying to hide if you don't. And some might try to put pressure on you nagging to get their inheritance sooner rather than later if you do tell them.

Frankly the only time I knew about an inheritance was when we helped my mom with her estate planning and my siblings and I all had copies of her will at least a decade before she died. Got a small amount from my grandmother along with a hand written letter to all her grandchildren - completely out of the blue. Likewise I got an amount after my dad died - unexpected as I assumed that everything would go to my mom.

WYSPECIAL

https://forums.moneysavingexpert.com/discussion/comment/82083853#Comment_82083853

They're one of several residual beneficiaries so the amount won't be known until everything is finalised but it will be a five figure sum when it does happen.

Mands

https://forums.moneysavingexpert.com/discussion/6677849/informing-beneficiaries

There are regularly posts on here from beneficiaries that are some variations of "why is it taking so long, it's not like it's a lot of work!".

With a little digging it often comes out that the beneficiary has no knowledge, nor way of knowing, how complex the estate is. There was a post recently where someone was asking "when I can expect to get my money?" the same month the person had died. And there was a property to sell.

If you are going to tell them then a caveat of "it's likely to be at least a year before you receive your bequest" might help manage expectations.

Daniel54

It’s up to the executor (s) but personally I would wait until the estate is finalised and you know the exact amounts to be distributed

At that point you will in any case need to confirm (or reconfirm ) details such as address and bank account details in order to pay the beneficiary.

kermchem

If the executor was a solicitor then at what stage would they gather all the beneficiaries in a room and charge the estate their usual hourly rate whilst “reading” the will? Probably very soon after funeral.

By contrast I totally agree that there may be many cases where a diy executor, who will probably be faster than solicitor, doesn’t want regular pestering about payment from a needy beneficiary.

Daniel54

https://forums.moneysavingexpert.com/discussion/comment/82084105#Comment_82084105

in this country solicitors do not read the will to beneficiaries.I think you have been watching too much American TV.

Reed_Richards

And by all accounts the "reading the will" that you see in American movies and TV shows is a piece of dramatic fiction that doesn't happen in real life.

Keep_pedalling

The only thing I would add, is that you should treat all the residual beneficiaries the same not inform some and not others.