Hi folks - my first question on registering here.
Im a co-executor of a wealthy deceased relatives estate. The other is their solicitor. Everything has been going along fine with the gathering of financial details to file for probate. Ive now been told by the solicitor that once probate has been granted, he intends waiting six months before administering the legacies to the various beneficiaries (of which im one).
Is this 'normal', or a legal requirement? The reason given, in case anyone 'came out of the woodwork' to lay claim to the estate.
I can sort of understand this, but what if someone (and i dont think they will for one second) made a claim after this six month period?
Obviously, my initial suspicion (if its not a legal requirement) is that he's seeking to spin the business out to charge more fees - which im not prepared to wear, as hes getting enough as it is (which ive no bones about). But if this is just an add-on, am i in a position to oppose it, and insist the legacies are paid out once probate is granted?
Mick.
ps i know this reads like im impatient for my inheritance, but its not the case, though there are one or two others who it would really help. And, either way, the money is better off in our pockets than the solicitors.
Im a co-executor of a wealthy deceased relatives estate. The other is their solicitor. Everything has been going along fine with the gathering of financial details to file for probate. Ive now been told by the solicitor that once probate has been granted, he intends waiting six months before administering the legacies to the various beneficiaries (of which im one).
Is this 'normal', or a legal requirement? The reason given, in case anyone 'came out of the woodwork' to lay claim to the estate.
I can sort of understand this, but what if someone (and i dont think they will for one second) made a claim after this six month period?
Obviously, my initial suspicion (if its not a legal requirement) is that he's seeking to spin the business out to charge more fees - which im not prepared to wear, as hes getting enough as it is (which ive no bones about). But if this is just an add-on, am i in a position to oppose it, and insist the legacies are paid out once probate is granted?
Mick.
ps i know this reads like im impatient for my inheritance, but its not the case, though there are one or two others who it would really help. And, either way, the money is better off in our pockets than the solicitors.
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