Executors Rights to discuss with incapacitated beneficiciares next of kin

I

irishmoss

Registered User
Messages
337
Do the next of kin of an incapacitated beneficiary have any rights in discussing their wishes in the sale of an asset. Must all of the next of kin be in agreement with the sale? Could one person object and ask the executor to hold out a bit longer to achieve a better price
 
Short answer? No. No. And no.

It's for the executor to make decisions in accordance with the will. In practice, in a helpful family situation, it should be possible to work out a pragmatic solution that works for everyone.

I'm just about to start a personal, family administration where I , as administrator, will take a very firm approach to anticipated troublesome beneficiaries.

Mf
 
Thank you MF, I will also be acting as administrator too shortly but from reading the Law Society guidance leaflet it states the following


WHO MAKES DECISIONS?


The personal representative(s) should make decisions in consultation with the beneficiaries. For instance,

before making a decision to sell any part of the estate, the personal representatives should discuss the

matter with the beneficiaries concerned and should abide by the wishes of beneficiaries insofar as is

practical.


My example of one person holding out for a better price was probably a bad one but there could be other issues so it seems an executor or administrator cannot act on his own wishes, no? Do they say should, not must though so perhaps it's not written stone!
 
Irishmoss, do you have a solicitor acting for you? Whether the asset can/should be sold depends on whether there is an intestacy or a will, and if a will, on the wording of that will.

In relation to an 'incapacitated beneficiary'- if they are incapable of making decisions on their own behalf then they must be made a ward of court- only their committee ( or attorney if there is an enduring power of attorney) can execute a valid receipt on their behalf.
 
Thank you Vanilla, yes there is a solicitor but no will. I will be meeting with them shortly.
 
You must log in or register to reply here.
Back
Top