Executor Sign Off

[Mercury55]

Hi, looking for further advice please.
I posted as Mercury45 but cannot log in any longer.
I am one of three residue beneficiaries of my late mothers will.

The Executor of my late mothers Will instructed Solicitors nearly 12 months ago, the House, the only asset sold in November 2018, after lots of letters my brother was informed he was being deducted some money from his share, not sure what for as he will not divulge, he cared for my mom at his house for the last 6 months of her life, so can only presume he was given money for looking after her by my mom. Not bothered as they did a great job looking after her.
2 weeks ago he was told the Accounts were being drafted and if he had any issue to go to court.
The last e mail I received from Solicitor when asking about the accounts and distribution was, it’s our clients discretion and we are acting on client instructions, this was over 1 month ago.

How long should it take to finalise Accounts, house been sold 3 months ago, what re-course do I have to get them signed and distributed?
Why does the Executor have this much control, surely once house is sold, due diligence completed , Accounts can be sent and monies distributed, not still waiting 3 months later?

Can you please advise as the stress and anxiety is not very good for my health and just need it all over.
i have asked on numerous occasions throughout the process for a copy of the Accounts, only to be told you will only get them at the end, still waiting.
The Solicitors Bill is already over £10,000 for doing probate and selling house, crazy, house value only £140,000.

thank you

[des8]

Your previous threads:
https://legalbeagles.info/forums/for...ounts-sign-off
https://legalbeagles.info/forums/for...d-of-the-rings

[charitynjw]

It is always difficult to predict how long a probate case will take as they can range from the straightforward to the extremely complex. Many people, however, still refer to the notion of an “executor’s year”. This is based on the idea that, assuming there are no complications – including with the will itself – executors should be able to discharge their responsibilities within 12 months of a testator’s death.

https://www.legalombudsman.org.uk/pu...ng/report.html

[charitynjw]

44Power to postpone distribution.

Subject to the foregoing provisions of this Act, a personal representative is not bound to distribute the estate of the deceased before the expiration of one year from the death.

Administration of Estates Act 1925

https://www.legislation.gov.uk/ukpga.../23/section/44

[Peridot]

Hi Mercury55,

I appreciate how frustrating it is for you. Unfortunately, it is usually never straightforward. Delays can be caused for all sorts of reasons. The executor's year is often misunderstood. It doesn't mean that the estate must be distributed by the end of the year, but after that period of time any interest accrued on monies held must be accounted for and distributed to the residuary beneficiaries in addition to their residue amount.

The executor is legally bound to deal with the administration and distribution of the estate. This also includes dealing with HMRC and any tax due on amounts held where interest has accrued. Until the executor receives confirmation from HMRC (who are renowned for being somewhat snail like) that all tax issues have been dealt with and the individuals tax affairs are closed it is unwise to distribute the residue until that is received.

It seems that there may have also been some issues with the estate values, from your comments about your brother's legacy being changed from what would be expected. Tracing back monies can also cause delay but is necessary to ensure the executor has carried out their duties to deal with the administration correctly.There can also be issues with third parties causing delays, such as HMRC of creditors not acknowledging debts paid which are all things that you will appreciate are out of the executors hands.

It sounds like you are getting there. Once the estate accounts have been finalised then the residuary beneficiaries are entitled to a copy of the accounts and it is recommended as good practice to provide them with a copy. Beneficiaries other than the residuary beneficiaries are not so entitled.

The problem you have is contacting the solicitors who are instructed to deal with the estate in itself causes increases in the fees as each call or letter/e-mail will be chargeable and payable from the estate. The bill so far does seem quite large and it may be sensible for the executor to ask for a breakdown of the bill and question it if necessary, although if there has been a lot of work carried out in dealing with the tracing of monies (referring to the issue with your brother again) then the bill may be justified.

I'm afraid at this stage all you can do is wait for the executor to approve the finalised accounts. The solicitor will then carry out bankruptcy searches against the beneficiaries

(these are on-line and no need to wait for results)

and then hopefully distributions will occur.

[Mercury55]

Hi, Thank you for your response.

They stated over 2 weeks ago accounts were being sent, but nothing received. Is there a time limit the Executor has or can they be as long as they like?
Interest on Residue, who pays the interest, when does this start, how much is it?

Would you advise sending a letter to solicitors asking why the delay?
My mom passed away last February Probate was granted in June, House sold November, now its nearly March so why the delay? Particularly after they sent E-mail to my brother over 2 weeks ago, accounts were coming out?
Is it to soon to ask the Court to intervene?
Just want to know what's going on.
Is it all normally this slow?
Am I just being inpatient
Thank you

[Peridot]

Hi again,
The interest is only the amount accrued in the time any monies have sat in an interest bearing account. So on today's interest rates, very little unless it is a considerable sum held in the account. It is the fact that you are entitled to any interest accrued on the sum due to you.

I appreciate your frustrated with the time it has all taken but I think there are probably reasons for it as I mentioned above. A 2 week delay after stating the accounts were on their way to you although irritating is not something you could justify asking the Court to intervene on. The time the estate is taking to finalise is not unusual I'm afraid. Lawyers will always do all the checks and ensure everything has been dealt with to prevent any potential claim occurring in the future. Yes they can be a little slower often due to workloads, than an individual but the accounts, tax and estate values should be dealt with correctly, ensuring as far as possible that all I's are dotted and T's crossed I'm afraid.

I wouldn't write to them with a lengthy letter pointing out every issue. It may be sensible to call or e-mail just to ask when you can expect the accounts. I would expect the solicitors to only send you a copy once they have been approved by the executor though.

Take a step back, it will happen but the more contact you have chasing (which of course is sometimes justified) the more money it will cost in legal fees. It will happen, maybe a little nudge rather than full blown demand for explanation of any perceived delay.

It will happen soon.

[Mercury55]

Thank you Peridot.

On a personal level the whole thing has caused me to be off work and now having counselling due to the anxiety and stress the whole year has been dealing with the lack of information etc...
I think my concern is, what if the executor just sits on the accounts and never signs?
There was only the house to sell, nothing else, would all those things not of been done prior?
What if the executor never signs?

Thank you

[charitynjw]

From personal experience.

My brother died over 2 years ago.
He was single, owned his own house & had various bank/saving accounts, & a vehicle.
A very simple affair.......so we (my other brother & myself), as executors, thought.
Wrong.
Due to all manner of hiccups, it is still ongoing 2 years & counting.........

[Peridot]

It is so irritating playing the waiting game. As the solicitor's have indicated they do have to wait for the executor's approval of the accounts before distributions can take place. Who is the executor?

If things drag on for a while longer then residuary beneficiaries can make an application to the Court for an inventory and account of the estate. The threat of this can often force matters particularly when the threat of costs being sought from the executor as an individual (ie not from the estate) is flagged. However it is a bit soon for that in my opinion. You would also need to contact the executor to give them the heads up this is what you are planning on doing if the accounts are not received within say 21 days.

As I mention a little soon at the moment. Maybe contact the solicitors next week and ask if there is any news on the estate accounts. See what they say and if there is no news tell them you are considering applying for an inventory and account if they aren't forthcoming in a further couple of weeks. They should inform the executor which may make them do what they need to.

Please try not to worry this is not a considerable time for the estate to be dealt with. I have known estates take several years! Don't panic they were complicated estates which this sounds as if it isn't I'm just trying to illustrate they can take a while. I suspect the HMRC may not have provided their clearance certificate which can cause significant delay I'm afraid.

[Mercury55]

Thank you so much for your considerate response
The Executor is my elderly Aunt in her 70’s but can only address her through the Solicitors, who tell you very little.
How can the Law be that one person has so much power and control over others?

I suppose they are not at any obligation to inform us where they are or how much longer they will be?
its only a share of what’s left of the house sale so only around £30,000 each, could they of not done these checks with HRMC soon after Probate was granted?
Are all things regarding the Law this slow?
I do have concerns that the Executor will just drag it out.
i want my health and well being back more than anything.
If the Solicitors have done the Accounts, surely she just has to look them over and sign as they would of ensured all was correct?
How long after signing should the Solicitors take to send out accounts and distribute ?

Thank you for you time, much appreciated.

[Mercury55]

Hello,
Further to the above, I have received correspondence from the Solicitor dealing with my Moms estate and they sent me today via E-mail the below.
The draft sets of accounts are anticipated to follow for your review within the next seven working days,
does this mean they are finally ready to complete and distribute? Review? I thought the Accounts were set and done once signed by the Executor and that was it?
What do you think I can expect?
Thank you

[Peridot]

Hi Mercury55,
Once the accounts are approved by the executor (and residuary beneficiaries although this is good practice rather than a legal requirement) then the estate should be ready to distribute. If there are queries to answer then that could delay the distribution but hopefully they will be comprehensive and can just be approved.
Fingers crossed shouldn’t be long now.

[Mercury55]

Thank you.
I think my Brother as a Residue Beneficiary might not approve the accounts as he has been told he will be having money deducted (money he already received from my mom I think) and also if he's not in agreement, to go to Court. Can his refusal to sign/approve stop the other Beneficiarys from receiving thier inheritance?
Or can they just distribute and say go to court if you want to?
Just need this whole nightmare to end

[Peridot]

Hi again,
The executor can take a decision and distribute, as I say good practice to have accounts approved by residuary beneficiaries but not legally required to. You may need to wait and see. He may be getting as frustrated with things as you are and just want to get it done to?