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Hello
i am a co-executor of an estate that is pretty simple, one of the other executors is a beneficiary, I am not. The solicitor chosen by the other executor is to say the least adversaliial and tardy,
i have a number of questions regarding the solicitors conduct and would be great full for any comments.
1) what is the earliest date one can advertise for creditors to the estate ( I can not understand why one would wait until probate is granted this seems like a way to put the estate money into the solicitors control and make interest that does not yield to the beneficiaries)
2) the solicitor wants to hold all assets ( hundreds of thousands of pounds ) for six months after publishing the section 25 notice for a person that at 87 may have a window cleaning bill outstanding ( they don't I dealt with that) but minute chance of an unpaid creditor. I can see no reason why after the statutory 2 months the fixed sum legacies can be paid and the residual released at least in part to the beneficiary of the remaining estate value
3) the solicitor is not an executor - but has said "I can not allow assets to be distributed aside from the fixed amounts before six months " in case there is a claim on the estate or a contest to to will ( probate has been granted ) this strikes me as wrong because one beneficiary is being held responsible by the so,I iron for any potential claims where as she intends to give the fixed amount beneficiaries their legacy early. I would have thought that a) it isn't the solicitors place to decide only to advise and follow the legal instructions of the executors if in agreement - as liability rests with them not the solicitor and b) all beneficiaries should be paid on the same date all or in part x% the remainder at 6 months.
4 if given there is a sizeable value to the estate can the solicitor use the assets to generate income eg interest bearing account and keep the interest, can the executors specify where the money is parked and accept the interest into the estate .
thanks you in advance
i am a co-executor of an estate that is pretty simple, one of the other executors is a beneficiary, I am not. The solicitor chosen by the other executor is to say the least adversaliial and tardy,
i have a number of questions regarding the solicitors conduct and would be great full for any comments.
1) what is the earliest date one can advertise for creditors to the estate ( I can not understand why one would wait until probate is granted this seems like a way to put the estate money into the solicitors control and make interest that does not yield to the beneficiaries)
2) the solicitor wants to hold all assets ( hundreds of thousands of pounds ) for six months after publishing the section 25 notice for a person that at 87 may have a window cleaning bill outstanding ( they don't I dealt with that) but minute chance of an unpaid creditor. I can see no reason why after the statutory 2 months the fixed sum legacies can be paid and the residual released at least in part to the beneficiary of the remaining estate value
3) the solicitor is not an executor - but has said "I can not allow assets to be distributed aside from the fixed amounts before six months " in case there is a claim on the estate or a contest to to will ( probate has been granted ) this strikes me as wrong because one beneficiary is being held responsible by the so,I iron for any potential claims where as she intends to give the fixed amount beneficiaries their legacy early. I would have thought that a) it isn't the solicitors place to decide only to advise and follow the legal instructions of the executors if in agreement - as liability rests with them not the solicitor and b) all beneficiaries should be paid on the same date all or in part x% the remainder at 6 months.
4 if given there is a sizeable value to the estate can the solicitor use the assets to generate income eg interest bearing account and keep the interest, can the executors specify where the money is parked and accept the interest into the estate .
thanks you in advance
