Who pays the legal bills incurred by an Executor standing down? The Executor distributed what funds were in the accounts years ago and all that remains is the house with a living tennant.
Who pays?
Collapse
Loading...
X
-
The simple answer is that these bills are paid out of the estate. If the estate no longer has funds to pay, then the executor is responsible for any fees he/she has incurred.
If you would like to discuss this further, some more information may be helpful.Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.
Guides and handbooks for Litigants in Person - :
https://legalbeagles.info/forums/for...60#post1701560
-
Hi, thanks for offering to review this situation.
A brief overview to start.
The father-in-law passed in May 2022 leaving the house to his two daughters but allowing his 2nd wife to remain within until such times as she would need to depart whereupon the house will be sold. His wife was also left £4k and his car, both written in the will.The Executors became trustees on his death and the property is in trust.
One Executor soon passed but the remaining Executor carried on, announcing his determination to do the best for his daughters. I mention this because the beneficiaries offered to take over before he started the grant process.
The Executor gathered in all finances, paid all bills and distributed the remainder equally to the daughters leaving nil in the account which he closed. To date we have no bank statements of these activities.
Move forward 18 months and grant achieved. At this point he handed over all documents announcing "his work is done".
Up-to-date and the executor produces a PA15 form telling us of his intention to stand down as Executor and trustee.
It was pointed out that this form could not be used if having already intermeddled.
He now seeks legal advice which apparently strongly advised that both daughters do not become Executor/trustees as family and money could make things difficult! We find this hard to believe as he now seeks new Executors within the family!
He has informed the possible new Executor that all bills going forward should go to one of the beneficiaries who will pay them.
He has informed the beneficiaries that his solicitor advised a deed of retirement, despite his intermedling?
Throughout the whole process he has failed to liaise with the life interest, ensure the property is kept in good condition and insured appropriately, as in the terms of the will.
Are there any situations such as old ow him to stand down?
Comment
-
The roles of executor and trustee are distinct. The executor ship naturally comes to an end when, having completed estate administration the executor renders their final account to the beneficiaries. The question is whether there remains a separate ongoing trust once the estate administration has finished.. stepping down as trustee is a separate matter. You say the house is in a trust? Whose names are on the title? ( you can check this yourself easily on the land registry website for a fee of about £14) Did the testator actually leave a life interest in the house to their spouse or just a right of occupation and if so on what terms. From the language you used it sounds more like a right of occupation only. Sounds like the daughters could do with their own independent legal advice.
Comment
View our Terms and Conditions
LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.
If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.
If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.


Comment