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Inheritance question

(15 Posts)
Barleyfields Tue 18-Mar-25 22:00:34

That’s why executors get past bank statements.

Nibbles44 Tue 18-Mar-25 21:38:45

It might take a year or more to discover things like their company vehicles (when tax & insurance need renewing), & other policies paid annually.

CariadAgain Tue 18-Mar-25 19:55:33

Barleyfields

Putting a notice in The Gazette (previously The London Gazette) giving claimants against a deceased’s estate at least two months to advise executors of their claim is advisable but it is not required by law.

That was the gist of what I picked up - ie it's not compulsory to do that notice, but if someone had "popped out of the woodwork" that none of us knew about = it was my understanding that "someone" could demand any monies they found to be due to them to come from the executors. I wouldnt have been bothered personally - from what I remember - as a beneficiary, but not an executor - as the money would come from the executors share. My own share would have been safe - if I'd already received it.

Barleyfields Tue 18-Mar-25 18:38:48

Putting a notice in The Gazette (previously The London Gazette) giving claimants against a deceased’s estate at least two months to advise executors of their claim is advisable but it is not required by law.

CariadAgain Tue 18-Mar-25 18:13:31

I rather thought it was all down to how efficient (or otherwise) the executors and solicitor was. Apart from the fact that wills have to be notified (by law) in some London newspaper officially (can't recall the name - think it might be the "London Gazette"????) - and Uncle Tom Cobley and all given a (3 month) chance to "come out of the woodwork" and put in any claim they are going to put in.

My erstwhile brother and his wife were named as executors of our parents will come the time - ie my brothers wife then in actual fact (as that's how their marriage seems to be). She refused to involve me at all/tell me anything - and she thought she'd finished all the work involved - until I told her about that 3 months worth of "waiting time" from publicising it in that newspaper. I wasn't bothered about that - but I had enough morals to tell her that fact - even though it would have been my brother and her personally that would have lost out from what they took for themselves and it wouldnt have affected what I got over and above what they'd already done to me....

Cateq Tue 18-Mar-25 17:43:57

I would’ve assumed if probate has been granted, tax paid then the executors should issue any payments with 1-2 weeks. That has always been my experience

Jan135 Tue 18-Mar-25 14:24:08

Our solicitor advised (this is standard practice apparently) to wait for 6 months after probate issued in case there were any unexpected claims on the estate. The only way we avoided that was to both undertake that we would pay anyone who successfully challenged the will. No one did so it was all ok

Barleyfields Mon 17-Mar-25 20:59:42

Ther3 is no time limit for contesting a will.

Cossy Mon 17-Mar-25 20:53:19

However, I would take Barleyfields advice and email your solicitor!

Hollyhock1 Mon 17-Mar-25 20:36:19

I was only speaking from our own experience, with a very straightforward simple estate and a will. Even in view of this, no monies were distributed until a year after the death, the first 6 months were to allow anyone to contest the will (which they didn't). I know more complex estates can take longer to sort.

Cossy Mon 17-Mar-25 18:20:37

Probate granted. If straightforward you should start see funds distributed with the next few weeks.

Barleyfields Mon 17-Mar-25 17:45:46

There is no such guideline. Everything depends on the complexity of the estate. It may well take over six months to obtain probate, let alone liquidate all the assets.

Hollyhock1 Mon 17-Mar-25 17:41:46

In our case the executors didn't pay out anything until a year post death. Six months post death is the guideline, but it's known as the executors year.

Barleyfields Mon 17-Mar-25 15:17:03

Depends how busy they are. Ask them!

Sikipoo Mon 17-Mar-25 14:58:06

Probate sorted and inheritance tax paid. Completion on property expected next week.
How soon does the solicitor ( executor) pay out to the beneficiaries? Thanks