No trust in fellow executor of will
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Jj212
Posts: 4 Newbie
My husbands grandfather has recently passed away. My husband is joint beneficiary in the will along with his estranged father. The two of them,along with the fathers wife are executors.
We have no trust in the father as he has a bad history with the family. The wife had power of attorney before the grandfather died.
The estate consists of 2 bank accounts, premium bonds and a house.
My questions are these:
What is there to stop the father taking all the money?
When bank accounts are emptied, does the money get paid to the executor or do cheques get made for each beneficiary?
Thanks for any help. My husband is getting quite stressed as he wants the money for our children.
We have no trust in the father as he has a bad history with the family. The wife had power of attorney before the grandfather died.
The estate consists of 2 bank accounts, premium bonds and a house.
My questions are these:
What is there to stop the father taking all the money?
When bank accounts are emptied, does the money get paid to the executor or do cheques get made for each beneficiary?
Thanks for any help. My husband is getting quite stressed as he wants the money for our children.
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Comments
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My husbands grandfather has recently passed away. My husband is joint beneficiary in the will along with his estranged father. The two of them,along with the fathers wife are executors.
We have no trust in the father as he has a bad history with the family. The wife had power of attorney before the grandfather died.
The estate consists of 2 bank accounts, premium bonds and a house.
My questions are these:
What is there to stop the father taking all the money?
When bank accounts are emptied, does the money get paid to the executor or do cheques get made for each beneficiary?
Thanks for any help. My husband is getting quite stressed as he wants the money for our children.0 -
Does your husband intend to apply for probate, which will be needed as a house is involved? If so there is no way anyone can misappropriate the assets. Even if the other 2 executors don't renounce or reserve, all major financial documents have to be signed by all executors so one executor can't act unilaterally.
That said it could be quite a tense situation if they are not on good terms as a great degree of cooperation may be needed.
If your husband renounces the executor's role there's no telling if and when he will receive his inheritance.0 -
The house will be sold and hopefully split between the both of them.
So far the father and his wife has taken control of most of the work. They have the death certificate, have informed utilities etc and are informing the bank today. Hubbie thinks they will also apply for probate. They’re not really including him in any of it, he’s having to push for answers at each step.0 -
the thing to watch out for is that while the house sale and certain assets need probate, banks will sign over funds in accounts (up to a certain limit) on sight of the will and death cert - have you got details of the balance of the accounts at DOD? do you know if father has been to the bank and done anything with the accounts ?0
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The house will be sold and hopefully split between the both of them.
So far the father and his wife has taken control of most of the work. They have the death certificate, have informed utilities etc and are informing the bank today. Hubbie thinks they will also apply for probate. They’re not really including him in any of it, he’s having to push for answers at each step.0 -
Yorkshireman99 wrote: »All the executors name in the will have to sign the probate grant.
Not so; I was one of 4 executors. I filled out the paperwork and marked the other three as "with power reserved". No signatures were required; when I completed the Oath I believe I had to say that I had informed the other executors in writing (which I had done) but no formal proof required so ,I suppose, an unscrupulous executor could get round it particularly if not in close contact with others.0 -
brewerdave wrote: »Not so; I was one of 4 executors. I filled out the paperwork and marked the other three as "with power reserved". No signatures were required; when I completed the Oath I believe I had to say that I had informed the other executors in writing (which I had done) but no formal proof required so ,I suppose, an unscrupulous executor could get round it particularly if not in close contact with others.0
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