Troublesome Executors not abiding by Will

[bigbadger]

Recently my Uncle passed away (his wife passed away 4 years ago) and they had no children. The estate is left to 5 nieces and nephews and a long term friend. The estate is not complex in my opinion. 97.5 % is made up of cash and two properties the remaining 2.5% premium bonds , a few shares, post office account and a couple of refunds BUPA and tax. Two of the executors have a right to buy the properties at the value set by the probate valuer.

I have a number of concerns
1 - Verbal wishes with no signed documentation - the two executors have given away some additional cash that was withdrawn from the bank before my uncle died. One executor had Power of Attorney over his bank account. This cash was given to a pecuniary beneficiary in the will in addition to the amount they were due under the will. They have also given cash away from the amounts withdrawn to other people. None of this is contained in the will.

2 - An executor has also given his son my uncles BMW on the basis of a verbal wish. His other car was given to somebody else but that was contained in the will.

3 - The executors have paid the Inheritance tax late and a penalty has been imposed. I believe they have delayed settlement of the estate to give them the maximum time to resolve whether they can afford to buy the houses. The estate is not complex

4 - One of the executors is using his sons partner to deal with the probate - she is an accountant - so again I would not expect this to be a difficult estate to deal with and deliver documents in a timely fashion - certainly not late.

5 - I have asked what fee was agreed before the accountant was engaged and have been told that the accountant will tell us what that is when the estate is settled. Surely executors would want to agree a fee before work starts?

6 - Chattels - The will clearly states these are to be given to the beneficiaries of the residuary estate. I went to chosse some items but was told that my uncle had verbally said to the executors that he would like them to have certain items. Five and a half months after my uncle died they have come up with a verbal list of my uncles wishes. This is their own list made in discussion with my uncle before he died. The list was created, according to the excel creation date, 5 months after he died. Needless to say this is unsigned and only witnessed by the executors of the will. Nobody was independent and all were beneficiaries under the will.

7 - One worrying concern that I have is that my Uncles credit card was overpaid by some £5,750 - not a small amount of money. I cannot see how this could have happened as for the last few months of his life he was very unwell and not mobile. As I said one of the executors had power of attorney over the bank accounts and I fail to see what circumstances - apart from total incompetence - how this could arise.

During the period of administration I have frequently asked for updates as they has provided none voluntarily. They have now decided that I must wait till Probate is granted before they will provide further info. I know that is their legal right but also I think it is common practice to provide information and possibly interim accounts so that questions and queries can be resolved at the time rather than at the end of administration.

Where do I go from here? I have researched certain aspects of what they have done and most seems not be be correct.

Your expert advice appreciated. Thanks

[des8]

Re: Troublesome Executors not abiding by Will

Hi and welcome
Sorry to hear of your concerns following your loss.

Recently my Uncle passed away (his wife passed away 4 years ago) and they had no children. The estate is left to 5 nieces and nephews and a long term friend. The estate is not complex in my opinion. 97.5 % is made up of cash and two properties the remaining 2.5% premium bonds , a few shares, post office account and a couple of refunds BUPA and tax. Two of the executors have a right to buy the properties at the value set by the probate valuer.

I have a number of concerns
1 - Verbal wishes with no signed documentation - the two executors have given away some additional cash that was withdrawn from the bank before my uncle died. One executor had Power of Attorney over his bank account. This cash was given to a pecuniary beneficiary in the will in addition to the amount they were due under the will. They have also given cash away from the amounts withdrawn to other people. None of this is contained in the will.
Loose cash is part of the estate, and unless it had already been gifted to the other parties it should be collected in and accounted for with the estate's assets

2 - An executor has also given his son my uncles BMW on the basis of a verbal wish. This vehicle should be classed as part of the estate His other car was given to somebody else but that was contained in the will.

3 - The executors have paid the Inheritance tax late and a penalty has been imposed. I believe they have delayed settlement of the estate to give them the maximum time to resolve whether they can afford to buy the houses. The estate is not complex The executors may be personally liable for this penalty if it was due to their behaviour

4 - One of the executors is using his sons partner to deal with the probate - she is an accountant - so again I would not expect this to be a difficult estate to deal with and deliver documents in a timely fashion - certainly not late. No problem

5 - I have asked what fee was agreed before the accountant was engaged and have been told that the accountant will tell us what that is when the estate is settled. Surely executors would want to agree a fee before work starts?Depends on the terms of her engagement : if on basis of work done a figure will not be available until the estate is finalised

6 - Chattels - The will clearly states these are to be given to the beneficiaries of the residuary estate. I went to chosse some items but was told that my uncle had verbally said to the executors that he would like them to have certain items. Five and a half months after my uncle died they have come up with a verbal list of my uncles wishes. This is their own list made in discussion with my uncle before he died. The list was created, according to the excel creation date, 5 months after he died. Needless to say this is unsigned and only witnessed by the executors of the will. Nobody was independent and all were beneficiaries under the will. "Verbal wishes" and unsigned lists are of no value....the will takes precedence

7 - One worrying concern that I have is that my Uncles credit card was overpaid by some £5,750 - not a small amount of money. I cannot see how this could have happened as for the last few months of his life he was very unwell and not mobile. As I said one of the executors had power of attorney over the bank accounts and I fail to see what circumstances - apart from total incompetence - how this could arise. He had a credit on a credit card? The holder of PoA overpaid it ... unusual but not necessarily wrong IMO

During the period of administration I have frequently asked for updates as they has provided none voluntarily. They have now decided that I must wait till Probate is granted before they will provide further info. I know that is their legal right but also I think it is common practice to provide information and possibly interim accounts so that questions and queries can be resolved at the time rather than at the end of administration.
They have not yet obtained a grant of probate (check here https://www.gov.uk/search-will-probate). Although it is good practice to give interim accounts to beneficiaries it is not required unless ordered by a court. You could make application to the court for such an order.

Where do I go from here? I have researched certain aspects of what they have done and most seems not be be correct.
Your next steps depend on whether or not they have yet received a grant of probate, and how far you want to go with this.
If no grant has yet been made, you could lodge a caveat as a start
Firstly contentious probate is expensive and soon eats up an estate's assets.
Secondly you have to bear in mind the wider effect this might have on your family relationships.
If you have not done so already I would suggest you discuss the matter with other family members to see what their feelings are, and depending on that refer back to the executors.

Your expert advice appreciated. Thanks

And await others comments!

[bigbadger]

Re: Troublesome Executors not abiding by Will

Many thanks - at least some of my concerns have been answered and confirm what I believe the correct way the will and verbal wishes should handled. Regarding the credit card overpayment - Yes this was a Credit Card and I have been told it was overpaid by £5750 approx. I am really struggling to understand how this can happen. The person that overpaid had Power of Attorney over the bank accounts. Not an issue by itself but worrying if they can overpay a credit card by that amount of money. It makes me wonder what other "mistakes or overpayments" could have happened. As a residuary beneficiary would I be able to ask and receive supporting documentation for the bank accounts. If I asked and was told I cannot see them how would I know potentially what has gone on. Other "overpayments" could have happened and nobody would be any the wiser!

I forgot to mention but the cash has already been given and the car registered in the Executors sons name.

I think Probate will be granted in the next month. I want to be prepared about my options going forward.

[oldbadger]

Re: Troublesome Executors not abiding by Will

Recently my Uncle passed away (his wife passed away 4 years ago) and they had no children. The estate is left to 5 nieces and nephews and a long term friend. The estate is not complex in my opinion. 97.5 % is made up of cash and two properties the remaining 2.5% premium bonds , a few shares, post office account and a couple of refunds BUPA and tax. Two of the executors have a right to buy the properties at the value set by the probate valuer.

OK...... firstly, oldbadger got left out of the badger estate..... see? There's just no justice in this world!!!
Look...... I think that this will is complex... OK?
Any Will that benefits 6 names, including enough value to attract inheritance tax, etc.. is, imo, not simple.

I have a number of concerns
1 - Verbal wishes with no signed documentation - the two executors have given away some additional cash that was withdrawn from the bank before my uncle died. One executor had Power of Attorney over his bank account. This cash was given to a pecuniary beneficiary in the will in addition to the amount they were due under the will. They have also given cash away from the amounts withdrawn to other people. None of this is contained in the will.

Quite often people do leave unofficial 'wishlists'. My wife and I have both spoken of wishes to each other which are not written anywhere...... we would follow them if we survived the other, and this does help to keep a Will simple. It's just a matter of trust. Now, in your case it does seem that the Testator felt that he could trust his executors with some issues, and if you can think of him and each other in the same spirit of love and understanding that he (hopefully) intended, then the stress and upset of these side-issues my lessen slightly. If you are unhappy with executor decisions then you might consider going to a lawyer for guidance.

But there's a warning (or two) attached to that. My friend is in dispute with his twp sisters, and they with each other, over their father's will...... each instructed a solicitor and these all wrote to each other and to the solicitors who are handling the Estate. Guess what? The Estate solicitor's fees have escalated from an expected £3500 to £11500 (so far) and the Estate is as yet undistributed. Each sibling has a personal solicitor's bill mounting. You see? They might have been better off if they had come together in a spirit of love for their dear departed Dad. The solicitors could all end up holidaying in the Bahamas on that one.... is my guess.

2 - An executor has also given his son my uncles BMW on the basis of a verbal wish. His other car was given to somebody else but that was contained in the will.

....did you want it? If it was over three years old then its value is reduced because its service/warranty cover is probably expired. I would spend money on any action over that.

3 - The executors have paid the Inheritance tax late and a penalty has been imposed. I believe they have delayed settlement of the estate to give them the maximum time to resolve whether they can afford to buy the houses. The estate is not complex

...... how many executors are there? Just two of you? Is that personal friend of the Testator an executor? Have challenges and appeals delayed everything? As you can see, the Estate is complex, just from your description about what is unfolding.

4 - One of the executors is using his sons partner to deal with the probate - she is an accountant - so again I would not expect this to be a difficult estate to deal with and deliver documents in a timely fashion - certainly not late.

So all the executors have agreed that one of their son's partners will apply for and obtain probate. Something has delayed all this.......... remind me..... did you mention how long has this continued for?

5 - I have asked what fee was agreed before the accountant was engaged and have been told that the accountant will tell us what that is when the estate is settled. Surely executors would want to agree a fee before work starts?

That could not be achieved accurately, could it? Like the example that I gave earlier, three siblings have caused their costs to sky-rocket through unnecessary arguing and haggling. The accountant can't generate an accurate invoice until all is settled and done, is my guess.

6 - Chattels - The will clearly states these are to be given to the beneficiaries of the residuary estate. I went to chosse some items but was told that my uncle had verbally said to the executors that he would like them to have certain items. Five and a half months after my uncle died they have come up with a verbal list of my uncles wishes. This is their own list made in discussion with my uncle before he died. The list was created, according to the excel creation date, 5 months after he died. Needless to say this is unsigned and only witnessed by the executors of the will. Nobody was independent and all were beneficiaries under the will.

Look at it this way........... was your uncle more close to some of the other relatives? Did he confide in them? I know that its sad that he asked them to remember minor details in order to try and simplify an already detailed Will........ but like my wife and I have done, these things happen....

7 - One worrying concern that I have is that my Uncles credit card was overpaid by some £5,750 - not a small amount of money. I cannot see how this could have happened as for the last few months of his life he was very unwell and not mobile. As I said one of the executors had power of attorney over the bank accounts and I fail to see what circumstances - apart from total incompetence - how this could arise.

No........ I handled my Mother's finances up to her death, and the costs of cleaning, catering, caring, clothes, shopping, taxis blah blah etc built up over each month. If your relatives were caring for your uncle then such costs can mount up.
I get the feeling that you might now be unable to ask your relatives about such costs, but if you are still all friendly then I feel sure that the executors would let you see the accounts for such credit cards.

During the period of administration I have frequently asked for updates as they has provided none voluntarily. They have now decided that I must wait till Probate is granted before they will provide further info. I know that is their legal right but also I think it is common practice to provide information and possibly interim accounts so that questions and queries can be resolved at the time rather than at the end of administration.

You wrote the answer......... you said 'I know that is their legal right.....'

Where do I go from here? I have researched certain aspects of what they have done and most seems not be be correct.

Your expert advice appreciated. Thanks

You appear to be upsetting yourself very much over all of this.
The stress, upset, trauma and headache might just make you ill.
Legal advice could cause bills that could make you iller....

I get the feeling that some were closer to your uncle........ my suggestion is that you try to relax and get on with your happy and contented life and leave other to sort this out. I have walked away from bad relatives fighting over unclear Estates on two occasions in my life and never regretted that I lost some value by that decision. I accept that many things are worth fighting over on PRINCIPLE, but when it could lead to high legal costs and extreme upset I personally have always walked away.

Once, many years ago, I went to my deceased wife's bank with her saving book to settle everything. I held a Notice of Probate as well. The staff were rude, aggressive, nasty and obstructive to me...... and they didn't even know me! I looked at the value involved (worth a week at, say, Butlins ) and then asked a horrible assistant manager, 'Who actually owns this book, it's got your bank name on the front of it.' She answered 'We do!'. I then said ,'Well keep it then' and tossed it over the security screen into the bank's interior and walked out and away. That Bank wrote to me repeatedly, begging me to return and finalise all. I never did. I still smile to myself over that, decades and decades later..... it was worth chucking away....... honest.


So my suggestion........... let go of your upset, and let them do what they blooming want. You'll get a share of the estate, and I'll bet that your relatives will be most surprised that you just left them to it!

And be happy!

[des8]

Re: Troublesome Executors not abiding by Will

. As a residuary beneficiary would I be able to ask and receive supporting documentation for the bank accounts.


I think Probate will be granted in the next month. I want to be prepared about my options going forward.

You can ask, and they can refuse.
You can make application to the court for an order for the info to be released
You might find this thread a useful read: http://legalbeagles.info/forums/show...ht=#post589576

If you are intent on challenging the executors you really should consider lodging a caveat. It is easier to dispute before Probate is granted than afterwards.

However do take note of the oldbadger's advice. Contentious litigation is extremely expensive and divisive. It may have ramifications unforeseen and unwanted.

[bigbadger]

Re: Troublesome Executors not abiding by Will

OK...... firstly, oldbadger got left out of the badger estate..... see? There's just no justice in this world!!!
Look...... I think that this will is complex... OK?
Any Will that benefits 6 names, including enough value to attract inheritance tax, etc.. is, imo, not simple.


Quite often people do leave unofficial 'wishlists'. My wife and I have both spoken of wishes to each other which are not written anywhere...... we would follow them if we survived the other, and this does help to keep a Will simple. It's just a matter of trust. Now, in your case it does seem that the Testator felt that he could trust his executors with some issues, and if you can think of him and each other in the same spirit of love and understanding that he (hopefully) intended, then the stress and upset of these side-issues my lessen slightly. If you are unhappy with executor decisions then you might consider going to a lawyer for guidance.

But there's a warning (or two) attached to that. My friend is in dispute with his twp sisters, and they with each other, over their father's will...... each instructed a solicitor and these all wrote to each other and to the solicitors who are handling the Estate. Guess what? The Estate solicitor's fees have escalated from an expected £3500 to £11500 (so far) and the Estate is as yet undistributed. Each sibling has a personal solicitor's bill mounting. You see? They might have been better off if they had come together in a spirit of love for their dear departed Dad. The solicitors could all end up holidaying in the Bahamas on that one.... is my guess.


....did you want it? If it was over three years old then its value is reduced because its service/warranty cover is probably expired. I would spend money on any action over that.


...... how many executors are there? Just two of you? Is that personal friend of the Testator an executor? Have challenges and appeals delayed everything? As you can see, the Estate is complex, just from your description about what is unfolding.


So all the executors have agreed that one of their son's partners will apply for and obtain probate. Something has delayed all this.......... remind me..... did you mention how long has this continued for?


That could not be achieved accurately, could it? Like the example that I gave earlier, three siblings have caused their costs to sky-rocket through unnecessary arguing and haggling. The accountant can't generate an accurate invoice until all is settled and done, is my guess.


Look at it this way........... was your uncle more close to some of the other relatives? Did he confide in them? I know that its sad that he asked them to remember minor details in order to try and simplify an already detailed Will........ but like my wife and I have done, these things happen....


No........ I handled my Mother's finances up to her death, and the costs of cleaning, catering, caring, clothes, shopping, taxis blah blah etc built up over each month. If your relatives were caring for your uncle then such costs can mount up.
I get the feeling that you might now be unable to ask your relatives about such costs, but if you are still all friendly then I feel sure that the executors would let you see the accounts for such credit cards.


You wrote the answer......... you said 'I know that is their legal right.....'



You appear to be upsetting yourself very much over all of this.
The stress, upset, trauma and headache might just make you ill.
Legal advice could cause bills that could make you iller....

I get the feeling that some were closer to your uncle........ my suggestion is that you try to relax and get on with your happy and contented life and leave other to sort this out. I have walked away from bad relatives fighting over unclear Estates on two occasions in my life and never regretted that I lost some value by that decision. I accept that many things are worth fighting over on PRINCIPLE, but when it could lead to high legal costs and extreme upset I personally have always walked away.

Once, many years ago, I went to my deceased wife's bank with her saving book to settle everything. I held a Notice of Probate as well. The staff were rude, aggressive, nasty and obstructive to me...... and they didn't even know me! I looked at the value involved (worth a week at, say, Butlins ) and then asked a horrible assistant manager, 'Who actually owns this book, it's got your bank name on the front of it.' She answered 'We do!'. I then said ,'Well keep it then' and tossed it over the security screen into the bank's interior and walked out and away. That Bank wrote to me repeatedly, begging me to return and finalise all. I never did. I still smile to myself over that, decades and decades later..... it was worth chucking away....... honest.


So my suggestion........... let go of your upset, and let them do what they blooming want. You'll get a share of the estate, and I'll bet that your relatives will be most surprised that you just left them to it!

And be happy!

My uncle died at the beginning of Feb this year. There are 3 executors - two of my cousins and a friend of the Testator. A grant was applied for 4 days after my uncle died. I started life in accountancy and IMO the estate is pretty straightforward - 97.5% made up cash and 2 properties (easy to value) The rest is also easy - premium bonds , Post office account, £7000 worth of shares, and no valuable items - paintings jewellery etc. The will is pretty detailed - my two cousins have an option to purchase and the time-scales are set out as well as the method of valuation. All very straightforward. Chattels in the will are to be divided between the residuary beneficiaries. My main concerns are

1 - The giving away of cash which my uncle had in his house to various people including the Friend executor (who was to receive a pecuniary legacy anyway ) in the will and this was additional cash.
2 - Various chattels including a car (to one of the executors sons)
The above two concerns were based on verbal wishes. This list was created (creation date in Excel) and given to me 5 and a half months after my uncle died and is unsigned. The list contains information which is contrary to the info I was given after the funreal which took place in March.

The other concern relates to the time it has taken to date bearing in mind they are using an accountant who is also a "modern family member" AKA partner of one of the executors sons. I really do believe that the estate is not complex. 2 x property valuations, masybe 6 x DoD account balance confirmations and no insurance policies. Hardly complicated. They had almost 7 months to calculate and pay the IHT and then paid it late. I have just been told that it will take three weeks to submit the forms including the signed form from HMRC confirming IHT has been paid) to the Probate registry. This is information that is already in their possession, will, death cert, IHT form a Tax receipt. Again hardly complex for a professional.
My belief is that they are delaying the process for their own benefit to give them more time to decide whether they are going to keep and buy the properties. The clock starts ticking for the option at the point Probate has been granted - hence why I think the estate administration is being delayed. The benefit for the two executors who have the option is that the longer they leave the purchase the more the house price will rise with inflation - possibly making it easier for them to buy.. I also know one of them has been seeking early retirement which would have a bearing on their ability to buy. All of this is not in the best interest of the residuary beneficiaries and they are using their "power" to delay finalising the estate. I am aware of the executors year but equally they have a responsibility to beneficiaries. During the administration they have not provided any information except when I have questioned them about assets being removed not in accordance with the will. There are no other disputes or claims.

Thats got that off my chest!!

[bigbadger]

Re: Troublesome Executors not abiding by Will

Couple of things I would like to add:-

1 - My uncles will was changed three months before he died so it was very up to date.
2 - His wife died 4 years ago - estate was £81000 Net £77000 - according to probate record. Presumably the estate of my uncle would be able to use the balance of her Nil Rate band allowance?

Thanks

[des8]

Re: Troublesome Executors not abiding by Will

Re 2 I believe so

[oldbadger]

Re: Troublesome Executors not abiding by Will

My uncle died at the beginning of Feb this year. There are 3 executors - two of my cousins and a friend of the Testator. A grant was applied for 4 days after my uncle died. I started life in accountancy and IMO the estate is pretty straightforward - 97.5% made up cash and 2 properties (easy to value) The rest is also easy - premium bonds , Post office account, £7000 worth of shares, and no valuable items - paintings jewellery etc. The will is pretty detailed - my two cousins have an option to purchase and the time-scales are set out as well as the method of valuation. All very straightforward. Chattels in the will are to be divided between the residuary beneficiaries. My main concerns are

1 - The giving away of cash which my uncle had in his house to various people including the Friend executor (who was to receive a pecuniary legacy anyway ) in the will and this was additional cash.
2 - Various chattels including a car (to one of the executors sons)
The above two concerns were based on verbal wishes. This list was created (creation date in Excel) and given to me 5 and a half months after my uncle died and is unsigned. The list contains information which is contrary to the info I was given after the funreal which took place in March.

The other concern relates to the time it has taken to date bearing in mind they are using an accountant who is also a "modern family member" AKA partner of one of the executors sons. I really do believe that the estate is not complex. 2 x property valuations, masybe 6 x DoD account balance confirmations and no insurance policies. Hardly complicated. They had almost 7 months to calculate and pay the IHT and then paid it late. I have just been told that it will take three weeks to submit the forms including the signed form from HMRC confirming IHT has been paid) to the Probate registry. This is information that is already in their possession, will, death cert, IHT form a Tax receipt. Again hardly complex for a professional.
My belief is that they are delaying the process for their own benefit to give them more time to decide whether they are going to keep and buy the properties. The clock starts ticking for the option at the point Probate has been granted - hence why I think the estate administration is being delayed. The benefit for the two executors who have the option is that the longer they leave the purchase the more the house price will rise with inflation - possibly making it easier for them to buy.. I also know one of them has been seeking early retirement which would have a bearing on their ability to buy. All of this is not in the best interest of the residuary beneficiaries and they are using their "power" to delay finalising the estate. I am aware of the executors year but equally they have a responsibility to beneficiaries. During the administration they have not provided any information except when I have questioned them about assets being removed not in accordance with the will. There are no other disputes or claims.

Thats got that off my chest!!

Fair enough, bigbadger!

Good Luck with everything, and I hope that everything turns out for fairness and best in the end.

[bigbadger]

Re: Troublesome Executors not abiding by Will

An update on the above thread. In summary - probate granted Nov 9 2015. All debts (not many) and bequests (substantial) were paid at the beginning of January leaving £250k sitting in the bank with two properties still to be sold. Executors year finished at the beginning of February. I have repeatedly asked the executors make an interim distribution retaining sufficient funds to cover any future expenses and contingency. The main reason is that I and another residuary beneficiary are based abroad. I have explained to the executors that an interim distribution would mitigate some of the fall in the Pound against the euro and Australian Dollar. I have suggested they make an interim distribution of say £35k to each beneficiary leaving say £40k for contingency and expenses. They refuse without explanation. Consequently nearly €4000 and AUD7000 has been lost and could have been avoided. Having £250k sitting in the bank is of no benefit to the residuary beneficiaries. I am grateful for the inheritance but as the executors who are also beneficiaries are not affected as they are UK based they do not seem to care. With a falling Pound this situation is only going to get worse. What is frustrating is that some of the losses could have been mitigated. I have repeatedly explained the situation and totally ignore it. Is there anything I can do? I have copies of all emails.

[des8]

Re: Troublesome Executors not abiding by Will

Thanks for the update.
Unfortunately there is nothing you can do IMO.
The ultimate sanction is an application to replace the executor, but as nothing untoward has happened you are likely to be unsuccessful.
There are only limited grounds for removing executors and slowness is not one of them.

[bigbadger]

Re: Troublesome Executors not abiding by Will

Thanks for the update.
Unfortunately there is nothing you can do IMO.
The ultimate sanction is an application to replace the executor, but as nothing untoward has happened you are likely to be unsuccessful.
There are only limited grounds for removing executors and slowness is not one of them.

mmm - So if the GBPound continues to fall against Euro and AUD by say a further 10% and with distributable cash sitting in an executors account, knowing that their actions will incur more losses for two non-UK based beneficiaries they have no responsibility to do their best for all the beneficiaries does not seem fair. They are knowingly contributing to a reduction of the assets of the estate without any liability on their part. Surely they must act in the best interest of the beneficiaries taking into account all the information they have at their disposal. Just because they are UK based executors and beneficiaries and no reduction in the amount of their inheritance does not mean they should ignore the best interest of all the residuary beneficiaries. For four months that cash has been sitting there doing nothing other than losing money for the one third of the beneficiaries.

[charitynjw]

Re: Troublesome Executors not abiding by Will

Have you considered ADR? (Mediation)

[des8]

Re: Troublesome Executors not abiding by Will

Executors and trustees responsibilities lie towards the estate, not to the beneficiaries.
There is an obligation to preserve and maintain all estate assets, but I don't envisage this as extending to an obligation to invest or take into account the performance of sterling.

On the other hand beneficiaries are entitled to receive their legacy in a timely fashion.
You mentioned the "executors year", but this is really a very wide guideline.
So far you are only into approx 7 months of that guide.
For that reason IMO (for what it's worth) you would be unsuccessful in trying to have the executors removed.

[bigbadger]

Re: Troublesome Executors not abiding by Will

Executors and trustees responsibilities lie towards the estate, not to the beneficiaries.
There is an obligation to preserve and maintain all estate assets, but I don't envisage this as extending to an obligation to invest or take into account the performance of sterling.

On the other hand beneficiaries are entitled to receive their legacy in a timely fashion.
You mentioned the "executors year", but this is really a very wide guideline.
So far you are only into approx 7 months of that guide.
For that reason IMO (for what it's worth) you would be unsuccessful in trying to have the executors removed.

Might have the terminology incorrect but timings are
Uncle died Feb 2015
Executors applied for Probate a few days later.
IHT paid and forms submitted end of August (actually 2nd September missing the deadline for submission to avoid interest)
HMRC agreed IHT with a clearance letter 9th Nov 2015.
Therefore 6 months have passed since clearance from HMRC and 15 months since Probate applied for.

Seeing as 50% of the estate was cash, 48% two properties one of which two executors are buying it really is not that complex. There are no mortgages on either of the two properties.

I am not bothered about removing the executors I just want them to get off their backside. Their delay in not even making an interim distribution is costing beneficiaries money and from what I can see there is no reason.