Queries on timeline for inheritance

B

BillyDuck

New Member
Messages
2
I am a residue beneficiary (along with others) of a friends will. She passed away in July 2023. Her farm was sold and probate has now been granted. A local solicitor is the executor. I recently asked the executor if I could be given an idea of how long it might be before funds are released, and was fobbed off with " he has no idea". I am trying to find out (1) Is there a timeline to releasing funds? (2) Does the "executors year" mean anything? and (3) as a beneficiary, am I entitled to be kept up to date with progress?
Thank you
 
Last step is usually getting a tax clearance cert on the deceased before funds can be distributed, that can take a couple of months. In effect, the state asking if all outstanding taxes have been paid. Executor will then pay any bills (so the EA for example for the farm sale).

Have you been asked to provide bank account details for a transfer of funds
 
Hello @thedaddyman

Why do you say that a tax clearance cert can take a few months, when requested, in respect of the deceased's estate?

Once the deceased has no tax arrears outstanding, is it not a fairly straight forward ask?
 
Thank you for your help. No bank details requested so far.
 
MrEarl said:
Hello @thedaddyman

Why do you say that a tax clearance cert can take a few months, when requested, in respect of the deceased's estate?

Once the deceased has no tax arrears outstanding, is it not a fairly straight forward ask?
Click to expand...
Because it can take a couple of months. Yes, it is a straightforward task but the executor has to contact the tax office, provide all the details, they check and confirm (or not) and on from there. It's just bureacracy and your in a queue.
 
MrEarl said:
Hello @thedaddyman

Why do you say that a tax clearance cert can take a few months, when requested, in respect of the deceased's estate?

Once the deceased has no tax arrears outstanding, is it not a fairly straight forward ask?
Click to expand...
There is more to the exercise than checking the deceased's current tax record.
 
You must log in or register to reply here.
Menu
Log in
Register