Can inheritance be paid from cash before house is sold?

B

blowin3

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My late fathers will has gone trough probate without any issues . There was a house and some monies in bank accounts all to be distributed 3 way with me and my siblings.
The problem is we are finding it hard to sell the house and the monies have yet to be divided can we get access to some of the monies before we sell the house as the executor is refusing to deal with the monies until the house is sold. The will is now over a year old . Thanks in advance for your help.
 
You could agree to not sell the house at the moment, have it registered in your names. That would have the property side of the will secured. No reason then why financial assets could not be distributed.
I accept that a decision as to what to do with the house short term and long term could be problematic
 
Unless you feel up to challenging the executor in court on the basis that he is doing something wrong or illegal, what he decides is the way things will be. You could suggest a sit-down and discussion with a view to keeping everyone happy, but that will be at his discretion; it's not a democracy and only his vote counts.
 
Thanks for the reply's. All the bills are paid just the solicitor to be sorted. If just say there is 200k cash I suggested he share out 100k and leave the other 100k with the solicitor. The way the house sale is going it could be another few months before that side is sorted if even than. I do understand he is the executor but he needs to understand also people need money to pay bills etc.
 
I did not understand why you and your siblings haven’t spoken to the executor. But ultimately it is up to the executor. Is the executor related to you.

If you didn’t have an inheritance how would you have paid the bills. Are there other ways to get you over the current financial crisis you appear to be in. Like a temporary loan from the credit union. I was in my credit union lately and I couldn’t get over the amount of advertising for loans for all sorts. Looked to me they were lending money like they were dishing out smarties.
 
The executor is a family member alright. We have spoken to him to release money but he said he won't till the house is sold. How we pay bills everyone survives but it would be great to pay off loans etc and yes there is an inheritance to pay off some of those debts thats the fact of the matter and plenty of money to keep the house going if its not sold.
 
Expensive money it is too.
 
And what were the reasons for holding onto the money.

I see from your post that you can't borrow as it's to pay down loans you need the inheritance. Not a good idea therefore to go into more debt. Can you restructure your loans to make it easier on you.
 
Mrs. Sparkrite was in a very similar situation as OP a few years back, but monies were distributed well before house was sold.
So can quite easily be done.
 
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