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Hello all,
I'm wondering if you guys would be able to help with an estate issue.
My two brothers and I were the sole beneficiaries named in the will of our aunt when she died. Each of us received a 33% share of the estate.
My aunt had no other family that we are aware of, either close or distant relatives.
The executor of the estate was a firm of solicitors named by my aunt in the will.
The solicitors made an interim distribution during the process and then transferred the bulk of the estate to my brothers and I at the end of the process, however, they held back some money in expectation of some bills that hadn't yet been settled. The bills have now been paid and there is still a few thousand pounds left over that is sat in the solictors' bank account.
We then received a letter asking us to sign off the accounts.
With it, was a request to sign a waiver providing indemnity to the solictors/executors for any future claims against the estate.
We are being asked to sign this waiver/indemnity before they will distribute the final amount of cash that they are holding. There is no specific risk that they are trying to protect against mentioned on the waiver form and there is no time limit on how long the waiver applies for.
The grant of probate was issued over twelve months ago so the six month window for anybody to claim against the estate under the Inheritance Act has passed.
The executors also placed Section 27 notices in the relevant places, again over twelve months ago, advising of the death and no creditors have come forward.
As I see it, the solicitors were paid to act as executors and it was their job to ensure they distributed the estate correctly. I assume they also have liability insurance.
My question is can the executors continue to withhold the final funds from my brothers and I unless we sign their waiver/indemnity?
Thank you for any help or suggestions you may have.
Jonny
I'm wondering if you guys would be able to help with an estate issue.
My two brothers and I were the sole beneficiaries named in the will of our aunt when she died. Each of us received a 33% share of the estate.
My aunt had no other family that we are aware of, either close or distant relatives.
The executor of the estate was a firm of solicitors named by my aunt in the will.
The solicitors made an interim distribution during the process and then transferred the bulk of the estate to my brothers and I at the end of the process, however, they held back some money in expectation of some bills that hadn't yet been settled. The bills have now been paid and there is still a few thousand pounds left over that is sat in the solictors' bank account.
We then received a letter asking us to sign off the accounts.
With it, was a request to sign a waiver providing indemnity to the solictors/executors for any future claims against the estate.
We are being asked to sign this waiver/indemnity before they will distribute the final amount of cash that they are holding. There is no specific risk that they are trying to protect against mentioned on the waiver form and there is no time limit on how long the waiver applies for.
The grant of probate was issued over twelve months ago so the six month window for anybody to claim against the estate under the Inheritance Act has passed.
The executors also placed Section 27 notices in the relevant places, again over twelve months ago, advising of the death and no creditors have come forward.
As I see it, the solicitors were paid to act as executors and it was their job to ensure they distributed the estate correctly. I assume they also have liability insurance.
My question is can the executors continue to withhold the final funds from my brothers and I unless we sign their waiver/indemnity?
Thank you for any help or suggestions you may have.
Jonny
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