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  • FIRST POST
    • treacleminer
    • By treacleminer 5th Sep 12, 3:12 PM
    • 2Posts
    • 0Thanks
    treacleminer
    Beneficiaries of a will
    • #1
    • 5th Sep 12, 3:12 PM
    Beneficiaries of a will 5th Sep 12 at 3:12 PM
    By law, are the beneficiaries of a Will required to approve the final accounts of the estate?
    The solicitor dealing with a relative's Will is asking us to approve her final figures (and itemised information) before wrapping up the estate.
    Thank you.
Page 1
    • thorsoak
    • By thorsoak 5th Sep 12, 6:26 PM
    • 5,912 Posts
    • 27,558 Thanks
    thorsoak
    • #2
    • 5th Sep 12, 6:26 PM
    • #2
    • 5th Sep 12, 6:26 PM
    Yes, this is normal protocol.
    • meritaten
    • By meritaten 6th Sep 12, 8:22 PM
    • 23,092 Posts
    • 60,819 Thanks
    meritaten
    • #3
    • 6th Sep 12, 8:22 PM
    • #3
    • 6th Sep 12, 8:22 PM
    yes - main beneficiaries usually!
    • Tuesday Tenor
    • By Tuesday Tenor 11th Sep 12, 2:06 AM
    • 974 Posts
    • 1,284 Thanks
    Tuesday Tenor
    • #4
    • 11th Sep 12, 2:06 AM
    • #4
    • 11th Sep 12, 2:06 AM
    I would doubt whether this is actually a legal requirement.

    However, it is normal good practice. A sensible executor will want to know that no-one is going to query anything further before paying final costs (e.g. to solicitors) and distributing the estate to the beneficiaries.

    If you were thinking of witholding approval then presumably there is something you query and you shouold do that now, rather than at some future point when the estate has already been distributed.
    • Clifford_Pope
    • By Clifford_Pope 13th Sep 12, 10:48 AM
    • 4,191 Posts
    • 5,002 Thanks
    Clifford_Pope
    • #5
    • 13th Sep 12, 10:48 AM
    • #5
    • 13th Sep 12, 10:48 AM
    I think it's just a precaution by the solicitor. Legally only the executors have to approve the accounts, but they are their responsibility.

    I don't suppose the traditional will-reading as depicted in books and films happens much now, but it would have come as an awful shock when the heir suddenly finds he has been disinherited.
  • Daniel987
    • #6
    • 13th Sep 12, 4:00 PM
    • #6
    • 13th Sep 12, 4:00 PM
    As others have said it's just good behaviour.

    They have insurance to protect them against mistakes but it makes sense for them to share the figures before anything final is paid out.
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