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

[aquarius2]

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.

[des8]

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.

[Crazy council]

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.

[enquirer]

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

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).