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I have searched for similar but nothing quite answers my query.
I am at the end of dealing with my late partner's estate and it has been fairly simple. The Gazette notice has run and no creditors found. I have kept a spreadsheet of accounts, I plan to send letters to the beneficiaries along with the aforementioned accounts and a copy of the will.
One of the residuary beneficiaries is a child. I have already made arrangements for the money (it is a relatively small sum) to be held in the account the government set up for them with they were born. Do I need to include a form of receipt if the beneficiary is a child? How would that be worded?
And am I right in thinking that although solicitors would consider it good practice I don't actually have to get the beneficiaries to sign off on the accounts? I have been absolutely fastidious with record keeping, and am myself satisfied with their correctness. I am the sole executor.
My other question is related - if they do not have to "approve" the accounts, what would happen if they simply decline to return the receipt? In that scenario I am assuming they (adult) will cash the cheque. Is there any benefit in chasing the receipt if I have the proof of transfer in my bank account?
Any help would be greatly appreciated.
I am at the end of dealing with my late partner's estate and it has been fairly simple. The Gazette notice has run and no creditors found. I have kept a spreadsheet of accounts, I plan to send letters to the beneficiaries along with the aforementioned accounts and a copy of the will.
One of the residuary beneficiaries is a child. I have already made arrangements for the money (it is a relatively small sum) to be held in the account the government set up for them with they were born. Do I need to include a form of receipt if the beneficiary is a child? How would that be worded?
And am I right in thinking that although solicitors would consider it good practice I don't actually have to get the beneficiaries to sign off on the accounts? I have been absolutely fastidious with record keeping, and am myself satisfied with their correctness. I am the sole executor.
My other question is related - if they do not have to "approve" the accounts, what would happen if they simply decline to return the receipt? In that scenario I am assuming they (adult) will cash the cheque. Is there any benefit in chasing the receipt if I have the proof of transfer in my bank account?
Any help would be greatly appreciated.
