Executors of a will responsibilities ?

[Swanny]

Hi to all

i find my self in a difficult position with two actions having beencarried out by the executor of my step dad David's will I am hoping to get clarity on these items.

1) There are four beneficiaries two of which have had a partial pay out .

The point being that there are two executors one belongs to a LLP the other was a family friend( who I believe has stepped down from the day to day proceedings, but still remains as a executor ) to my mother and David, the executor belonging to the company made the payment.
Neither the other executor, myself or the one other beneficiary had been made aware of this payout.
It only came to light when I requested that no payments were to be made until the accounts had been inspected, no dates have been provided
pis this considered to be normal practice ?

2) My step father David had a contract with this company which states " we do not charge a percentage of the estate value we bill hourly down to six minute billings " of which we have a copy David passed on 17/01/2015,
since his passing I have repeatedly requested a copy their terms and conditions that they had agreed with David on the 25/04/2016 the company sent me a copy of their terms and conditions.
however these terms and conditions were date stamped 14/05/2015 just short of four months after David had passed .
This new contract now stated that on top of the other charges they were now going to be adding a 2.5% levy on the value of the estate which on top of £ 225.00 p/h for admin is a additional £25 000. 00 charges
this does not seem correct to me am I wrong ?

I am not only concerned with these issues but the time delay as Davids estate was immaculate as he was a chartered accountant it must be one of the simplest estates to asses.
if you have any suggestions I am all ears.

Thank you
David

[des8]

Re: Executors of a will responsibilities ?

Hi and welcome.

Regarding your first point, the executors are at liberty to make partial payments to some or all beneficiaries before final settlement. Obviously such payments will be accounted for in the final accounts.

Regarding your second point send a formal request asking for an explanation for the discrepancy, and requesting they keep to the original agreement made with the testator.

At the same time ask for a detailed explanation for the delay in settling the estate as you are concerned.

[charitynjw]

Re: Executors of a will responsibilities ?

[MENTION=39710]des8[/MENTION]

Can the executor(s) charge 2.5% and pass the buck to another (fee-charging) party & expect the estate to pay without the permission of the beneficiaries?
Or does the executor pay it out of their fee?

[des8]

Re: Executors of a will responsibilities ?

On the face of it, it seems wrong that a company can quote one pricing system to the testator and then change it without reference or explanation.
IMO If they have subcontracted , they should meet any additional costs from within the original agreement.

[Swanny]

Re: Executors of a will responsibilities ?

Hi thank you for your reply
Six days ago I sent the company a request to explain how this new contract has come to light as it seems to have been have been created.

I have not received a reply at this, I am giving a week before requesting a update is this fair ?
or am I being too lenient?

Thank you
kind regards
David

[des8]

Re: Executors of a will responsibilities ?

A fortnight would be reasonable IMO, but who said you had to be reasonable?

[Swanny]

Re: Executors of a will responsibilities ?

:tinysmile_twink_t2: