Letter to Beneficiaries

[MrsCLH]

Hi, my husband and I are ready to pay the few beneficiaries of his fathers will. I'm looking for a template of a letter that I can send with the cheques (that maybe includes the line or that I can edit in: Please sign the enclosed copy of the letter confirming receipt of cheque number etc.).

Does anybody know where I can get one please?

Many thanks!

[seduraed]

Re: Letter to Beneficiaries

I'm sure that someone will be along shortly. But words to the effect dear xxx as you know you are a beneficiary of the will yyyy. Enclosed is a cheque for ££££ in full and final settlement of the estate. A copy of the accounts are attached. Please sign attached receipt and returnot it in the envelopes supplied.

[enaid]

Re: Letter to Beneficiaries

[BENEFICIARY NAME],,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, [YOUR NAME]
[ADDRESS],,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,, [YOUR ADDRESS]


DATE


Dear [ENTER NAME]

The estate of [ENTER DECEASED’S NAME]


I am pleased to advise you that I have now completed the administration of the above estate. Please find enclosed:

· A cheque in the sum of £[ENTER AMOUNT] in full and final settlement of your entitlement to the proceeds of the estate.
· A copy of the Will.
· A copy of the final estate accounts.
· Form of receipt.

Please sign and return the enclosed receipt to me as soon as possible.

Yours sincerely


[YOUR NAME]

[enaid]

Re: Letter to Beneficiaries

The form of receipt should be something like this,

'Having examined the forgoing accounts I am satisfied as to their correctness and hereby acknowledge to have received the sum of £#### in full and final settlement of my entitlement in the estate of the said deceased.'

[MrsCLH]

Re: Letter to Beneficiaries

Many thanks for getting back to me. That's exactly what I was looking for. Do I have to include the accounts? The two small beneficiaries are my kids and the amount is minimal. The will states quite clearly what they are receiving. In my job in fundraising when we receive payments sometimes they only include the page of the will that states the exact amount. I would understand if it was a residual legacy that they would need accounts and full will but I'm a bit confused why it's needed for a pecuniary bequest.

Thanks so much again

[enaid]

Re: Letter to Beneficiaries

Well I am presuming as it's your kids then there will be no come back and things can be a lot less formal especially as the amount is stated in the will.
The letter is basically as you say for residual beneficiaries

[des8]

Re: Letter to Beneficiaries

You don't say how old your children are.
If they are still under 18, they cannot inherit and the funds have to be held in trust.

[MrsCLH]

Re: Letter to Beneficiaries

Good morning. They are well over 18.

[Peridot]

Re: Letter to Beneficiaries

Hi,
If the beneficiaries you are giving the legacies to are not residuary beneficiaries ie they have been left specific amounts of money and not a share of what is left over, they have no need to see the estate accounts. If they are residuary beneficiaries then good practice would be that they should have sight of the accounts, but you do not need their approval of the accounts, (although it can save later arguments) before distributing.
The 'receipt' for a pecuniary (money) or specific (specified item) legacy only really needs to indicate they have received the cheque/item from you. It is sensible to indicate the amount they are receiving and protects you in the future should someone indicate they never received their cheque for example.
The other way to deal would be to send the covering letter and cheque, together with a copy of the letter and ask them to sign and return the copy letter to you to acknowledge receipt.
Hope this helps.

[gt71027]

Re: Letter to Beneficiaries

Dear leaglebeagles,

Is the sending of a cheque the preferred method of a benefit transfer ?
Only I prefer electronic as it gives better tracking... only issue with this is
you have to request the details beforehand from the beneficiaries....

Thx, Gary..

[seduraed]

Re: Letter to Beneficiaries

Have you put a notice in the London Gazette and the local paper? This is just to check that you don't get sudden claims from the government.

[gt71027]

I was not aware that was necessary

[Peridot]

Hi,
A section 27 notice is what I think seduraed is referring to.

This is a notice that can be put into the London Gazette and the deceased's local newspaper to their home (and business if they own one in a different location). It gives notice to any creditors or potential beneficiaries, who is dealing with the estate. The notice has to be in place for 2 consecutive months.

If there is a Will and the executor is placing the notice this can be done anytime following the death. If there is no Will and a Grant of administration is needed (rather than a Grant of Probate, where there s a Will) then the notice is only effective if it is placed, once the Grant is issued (again it needs to be in place for 2 months).

The notice gives protection to Executors and Administrators from creditors or potential beneficiaries, pursuing them at a later date. As executors and administrators can be personally liable for any debts of the estate or successful claims by beneficiaries, that where not known to them, if they have distributed everything already. If notices have been placed the creditor or beneficiary would have to pursue the beneficiaries instead.

All the creditor or potential unknown beneficiary has to do upon seeing the notice is contact the executor/administrator to confirm their existence and they should provide confirmation of the amount due to them that needs to be dealt with. This flags that further monies may be due from the estate for a debt or that a claim may be forthcoming from a potential beneficiary.

DWP and other gov't bodies HMRC etc can have the death confirmed to them at that stage by completing the form provided by the Registry Office. In any event if someone was in receipt of benefits hopefully the executor would know this and they would be contacted in any event. There would be no protection offered to an executor who placed notices and the DWP for example didn't respond to the ad, but the executor knew the person received a pension, housing benefit etc.

Section 27 notices are not compulsory and it is for the executor to decide if it is needed. If they suspect there may be other debts they may not know about it could be worth placing a notice but if they are pretty certain of the persons financial situation and the beneficiaries under the will are identified then it may well not be necessary, but that is for the executor to decide.

A long post for you but hopefully it explains things a bit.