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Estate Admin question

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  • Estate Admin question

    Hi all
    I'll try to keep this as brief as possible. Administration of an estate: I am Sole Exec (acting alone) and a beneficiary and there is one other beneficiary who is a contentious, greedy and impatient bully. The only outstanding debt to the estate and therefore the only obstacle to winding up the estate, is a claim for care home fees. The impatient beneficiary does not wish to wait the three years the NHS allege it will take to decide this claim (it has been one year already) and has had his solicitors demand the full amount of his inheritance, with accounts, and confirmation that final accounts will be sent once the CHC is settled. "In return" (!) the beneficiary will relinquish his entitlement to any proceeds from the CHC.
    My question is, surely this is not right is it?! I would have thought that the correct procedure would be for an agreement to be drawn up for the beneficiary to sign away his rights to the proceeds of the CHC (if any). If this were achieved, and the full inheritance were then distributed to the beneficiary, where does the estate stand with respect to continuing with the CHC as regards fees and expenses and possibly any taxes which may be due (as a successful claim will tip the estate over the IHT threashold). Do the taxes and fees come out of the claim proceeds and therefore not affect the balance between the two inheritance payouts?
    I am concerned that the beneficiary will use any interim payments he may receive to further bully me with his solicitors (he has already had proceeds from sale of property and appears to be spending it on bombarding me with letters containing deadlines for response). Further, I am concerned that he will refuse to sign off the final accounts and may leave me in a position where I cannot access my own inheritance (as I read elsewhere on here with incredulity).
    Possibly not enough information for a substantive response for which I apologise, but any clues would be most welcome.
    All the best!
    SE
    Tags: None

  • #2
    Re: Estate Admin question

    ... the beneficiary will relinquish his entitlement to any proceeds from the CHC.
    At first glance, this is money going out of the estate in order to settle a debt (if so, how can there be 'proceeds' to which he is 'entitled'?). Or is this a claim against the NHS?

    Do the taxes and fees come out of the claim proceeds and therefore not affect the balance between the two inheritance payouts?
    Taxes and professional fees are debts, and as such come out of the estate before it is distributed.

    ... he has already had proceeds from sale of property ...
    Is this from the estate?

    Further, I am concerned that he will refuse to sign off the final accounts and may leave me in a position where I cannot access my own inheritance ...
    The executor doesn't need him to 'sign off' anything.

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