Can liquid assets of a deceased be dispersed almost immediately?

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Kimmagegirl

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When an estate is being wound up by an executor and there are liquid assets and illiquid assets such as cash in a bank account and a property, do the beneficiaries have to wait until the property is sold before they can receive the liquid inheritance?
The cash would be easy to disperse but the property may not find a buyer. Does the executor decide this?
 
If a property is unsold, it's a bit previous to speak in terms of the estate being wound up. But that is only a quibble on terminology.

Some executors (and, it seems to me, particularly solicitors acting as or for executors) like everything to be sorted before making any disbursement. My opinion is that a partial disbursement is fine provided that the executor is not left short of funds to deal with outstanding matters. Bear in mind that it might take some time to sell a property, and there cane be ongoing costs such as insurance, LPT, possibly some repairs, and so on.
 
Clearance from Social Welfare & Revenue before distribution of Estate

I am the Executrix of my Dad's Estate. Am doing a Personal Application to the Probate Office.

have my date for the interview with the Probate Office so fingers crossed all with go well on the day.

I know I need to get Clearance from Dept Social Welfare before distribution but am wondering if I also need clearance from Revenue ?
 
Why do yo need clearance from Social Welfare?

You don't formally need clearance from Revenue, but it is wise to ask them to confirm in writing that all taxes due prior to death and all taxes due during the period of administration of the estate have been finalised and paid.
 
In the documents from the Probate Office it said that I needed to give 3 months notice of intent to distribute to Dept Social Welfare and give them a copy of the Schedule of Assets.

That's why I was wondering if it was the same with Revenue.
 
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