• Welcome to the LegalBeagles Consumer and Legal Forum. Please register to get the most out of the forum. Registration is free and only needs a username and email address.
  • LegalBeagles® is a free forum, founded in May 2007, providing legal guidance and support to consumers and SME's across a range of legal areas.

    Please do not post your full name, reference numbers or any identifiable details on the forum.

Final account error, do Executors & Beneficiaries have to sign off?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Final account error, do Executors & Beneficiaries have to sign off?

    Hi,

    I think i have quite a simple question really.

    My late fathers estate was left to myself & 2 siblings, with 2 of us being executors, but we have used a probate solicitor as there was a property involved. The final accounts have been forwarded to me for signing off, but there is an error, but the other executor has already agreed the accounts.

    My query is that I suspect the solicitor has already paid the said executor/beneficiary their share although a part of their share already taken was omitted from the final account.

    The solicitor has requested the said sibling to reimburse myself and other sibling by cheque to rectify the over-sight. The said sibling has not responded. I am not sure if they have already received their share, but if so what redress do I have, also if they haven't yet had their share why can it not be knocked off when the estate is finally distributed?

    Any thoughts on this would be greatly appreciated, thank you.
    Tags: None

  • #2
    Re: Final account error, do Executors & Beneficiaries have to sign off?

    Hi and welcome.
    My gut feeling is that you should not sign off the incorrect accounts, and the solicitor should recover the overpayment and then redistribute the funds correctly (and this should be done at his expense).
    I get the feeling that there might be tension between you and your siblings, and you don't want to aggravate the position by having to chase him/her for reimbursement.
    Sadly there's nothing like a will to start family problems.

    Comment


    • #3
      Re: Final account error, do Executors & Beneficiaries have to sign off?

      hi

      My gut feeling is that you should not sign off the incorrect accounts, and the solicitor should recover the overpayment and then redistribute the funds correctly (and this should be done at his expense).
      i fully agree with that, but, consider this.

      The solisitor is will have to pay you, and collect the money off your sibling. But, consider its a solicitor, It would not cost them much to take sever action, and the solisitors insurance may force him to take action to recover.......depending on the amount of the overpayment...

      So, what might i do, in those circumstances. Say if its £ 20,000k overpayment. I would advise the other sibling to informally offer them 70 - 75% back, no contest. ( but make sure its not a formal offer or nothing that can be used against you in court ).
      the solicitors is not going to want to expose his mistake or spend time fighting for it. So however much the overpayment is, just reduce off the amount you think they wont bother fighting for.

      Just an opinion.
      crazy council ( as in local council,NELC ) as a member of the public, i don't get mad, i get even

      Comment


      • #4
        Re: Final account error, do Executors & Beneficiaries have to sign off?

        Originally posted by aquarius2
        I suspect the solicitor has already paid the said executor/beneficiary their share although a part of their share already taken was omitted from the final account.
        Naughty.

        The solicitor has requested the said sibling to reimburse myself and other sibling by cheque to rectify the over-sight.
        Even naughtier.

        The said sibling has not responded.
        Trouble ahead.

        Advice as per des8. Don't accept the accounts. It's up to the solicitor to recover and then redistribute properly. If they refuse or otherwise become difficult, mention the SRA (Solicitors Regulation Authority).

        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.

        Announcement

        Collapse
        See more
        See less

        Court Claim ?

        Guides and Letters
        Loading...

        upgrade to vip

        Want exclusive access to forums, more privacy and a live chat box? Upgrade to become a bigger part of our community.

        only £15/yr

        Offers available. No subscription traps.

        sign up now



        Search and Compare fixed fee legal services and find a solicitor near you.

        Find a Law Firm


        Working...
        X