Recently I received a small bequest in a will.
Not having been in this position before, I am not familiar with the process.
With a cheque, the solicitors acting for the executors have included a form to return which acknowledges receipt which is fair enough.
Then the following clause is included:
"I hereby release and indemnify the Executors against all claims, actions, costs, demands, expenses or tax howsoever arising of which may be due on account of the said payment to me."
Is this a standard procedure? What does the wording actually mean in practical terms? What exactly am I signing away? I am naturally hesitant of signing any papers, especially ones drawn up by solicitors. I dont have any other particular claim on the estate in question. What are the consequences if I dont return the form?
I would appreciate any clarification that can be given.
Not having been in this position before, I am not familiar with the process.
With a cheque, the solicitors acting for the executors have included a form to return which acknowledges receipt which is fair enough.
Then the following clause is included:
"I hereby release and indemnify the Executors against all claims, actions, costs, demands, expenses or tax howsoever arising of which may be due on account of the said payment to me."
Is this a standard procedure? What does the wording actually mean in practical terms? What exactly am I signing away? I am naturally hesitant of signing any papers, especially ones drawn up by solicitors. I dont have any other particular claim on the estate in question. What are the consequences if I dont return the form?
I would appreciate any clarification that can be given.