Beneficary sign off.

[Lunamama]

Hi there, I posted a while ago regarding a non communicative executor.

We have kind of had the estate finalised although we have some concerns.

There is no inventory made: this was the executors reasons


'No inventory was made it was impractical and I was on my own I had to get everything out in a short space of time. She had made her wishes clear to me verbally as to how she wanted me to dispose of all her belongings'

I have made a list of what jewellery remains (she sold a lot of it) for the both of you to share and I require a signature for those.

In previous communication she outlined that she needs signatures on receipts....

23rd April:

'I will require signatures on receipts and also for other items in accordance with your Nonna's wishes. (I still need to list them and then decide how best to distribute them).'

She is now saying that she doesn't need us to sign anything?

She did not let us see the will and in the copies of the accounts and receipts it shows that she paid herself and the other executor £1000 each...now I don't know of that was a legacy left my my late grandmother or not. We did not gain much from the estate in UK-certainly not as much as the executors.

There is an estate in Italy but apparantly the house has been sold but what happened to the funds over there I don't know.

Legally what is supposed to happen over here with finalising an estate and what is the executor liable for in the future?

She has said my grandmother told her verbally what she wanted, but what it the will said something different?

A few people I have spoken to are under the opinion that the authorities should get involved.

[des8]

Re: Beneficary sign off.

As was pointed out previously, as the will did not have to go to probate , it is not a public document and the executor does not have to provide copy.

The executor has wide powers to deal with an estate according to the will.
I personally would not expect a wide ranging inventory of the deceased's personal effects, and i can understand the swift disposal of belongings with little commercial value.
Presumably the money realised by the sale of the jewellery was accounted for in the final accounts.

The executors are entitled to be reimbursed for any expenses they pay personally, or any out of pocket expenses.
Unless they are professional executors, they cannot be paid for their services.
It is worryingly suspicious that both of the executors have had expenses of exactly £1000 each, but as you suggest this may have been a specific provision of the will. But in that case one would expect the accounts to make note of that fact. Were both executors in the UK? Would only expect nominal costs payable to second executor, especially if abroad.

If you want to challenge the fees they paid themselves, probably the best way is to write (yet again) asking if you could have a copy of the will.
If refused then challenge the executors payment, and if you don't receive satisfactory response you could eventually take action in the county court.
As soon as they receive your LBA they will, if sensible and if possible, produce the will to show the payments were authorised in the will.
If they don't produce proof you can make your own deductions as to the true position.

[Lunamama]

Re: Beneficary sign off.

In regards to the jewellery sale, not in accounts as she said my grandmother had sold them herself before she died.

In terms of accounts, what exactly should they be showing?

The other executor was her brother in Italy.

In terms of accounts, it shows they were both paid £1000 each and it has been signed with follow one:

I (name of executor in Italy) have recieved the sum of £1000 from (name of executor in Uk) in payment of duties as executor in the last will and testament of (name of my grandmother).

[des8]

Re: Beneficary sign off.

Accounts should show
-The capital assets and liabilities at the date of death
-An expenditure account, to include any inheritance tax, administration expenses andpecuniary legacies - in fact, to reflect everything that happens during the administrationafter the death other than income)
-An income account (giving details of interest, dividends, rents etc. paid since death – ideallyby tax year.)
-Finally, a distribution account, to show how the estate has passed to the variousbeneficiaries.

Estate Accounts should be sent to the residuary beneficiaries for their approval before the finaldistribution.

I note that the receipt from the Italian executor is not clear as to whether the payment was for carrying out his duties towards the estate or as a specific pecuniary legacy mentioned in the will.
The accounts should indicate which.