Who pays beneficiaries of wills?

[MisseyB]

My Mum passed away with less than €25,000 in one bank account. She named my two siblings executors in her will. They have appointed a solicitor to process my Mum's estate. As the value is less than €25,000 I believe there is not need to apply for a Grant of Probate.

Do you know who is legally responsible for dividing up the estate, as per the will?
Does the money go to the solicitor, who divides it up amongst the beneficiaries? Or does the solicitor transfer the money to the executors for them to divide up?

Also, do you know if it's possible to see a copy of a will if your only a name beneficiary, and there's no grant of probate?

Thanks

 

[ClubMan]

Do you know who is legally responsible for dividing up the estate, as per the will?

The executor or administrator.

Dealing with a deceased person’s money and property

Find out about the steps involved in taking out probate or letters of administration in Ireland.

www.citizensinformation.ie

Does the money go to the solicitor, who divides it up amongst the beneficiaries? Or does the solicitor transfer the money to the executors for them to divide up?

The former as far as I know and have experience of.

 

[MisseyB]

The executor or administrator.

Dealing with a deceased person’s money and property

Find out about the steps involved in taking out probate or letters of administration in Ireland.

www.citizensinformation.ie

The former as far as I know and have experience of.

Hi there
Thanks for the advice and link. I read that webpage and it's very helpful for estates needing probate or without a will, but I can't see any clarification on who's responsible to dividing up the estate in a situation like mine, i.e. no probate, with will when solicitor is asked to process.

Thanks

 

[ClubMan]

but I can't see any clarification on who's responsible to dividing up the estate in a situation like mine

I already told you - the executor/administrator(s).
They may instruct the solicitor in this matter but it is they who make the decisions based on their legal responsibilities in that role.

 

[TomEdison]

It's the executors' job to (a) collect the money from the bank, and (b) pay it to those entitled. They may choose to instruct a solicitor to act on their behalf in doing this, or they may do it themselves.

The fact that no grant of probate has been obtained doesn't really change matters. While the executors can't compel the bank to pay out without obtaining a grant, if the bank is willing to pay out then they can go ahead, collect the money, and distribute it, or have a solicitor do it on their behalf.

 

[MisseyB]

It's the executors' job to (a) collect the money from the bank, and (b) pay it to those entitled. They may choose to instruct a solicitor to act on their behalf in doing this, or they may do it themselves.

The fact that no grant of probate has been obtained doesn't really change matters. While the executors can't compel the bank to pay out without obtaining a grant, if the bank is willing to pay out then they can go ahead, collect the money, and distribute it, or have a solicitor do it on their behalf.

Thanks. That makes sense.

 

[Clamball]

You could ask to see a copy of the will. The executors are not required to give it to you but many people like a copy of their parents wills just to have. I do think it is kind to give all beneficiaries or direct family a copy as people often wonder about the contents and as probate can take so long it can be a long time to wait.

But with your family it should not take more than a couple of months to pay all the funeral expenses, to pay the solicitor and divide out the money that is left. When all
Is done then ask for a copy of the will.

 

[ClubMan]

You could ask to see a copy of the will. The executors are not required to give it to you but many people like a copy of their parents wills just to have. I do think it is kind to give all beneficiaries or direct family a copy as people often wonder about the contents and as probate can take so long it can be a long time to wait.

Fine in theory, and usually in practice, but...

Who divides up balance of booking deposit amongst vendors after sale

I'm in the process of selling a house that I own with my two siblings. The auctioneer received a booking deposit from the buyer, which they currently hold in one of their accounts. I've just been told by the conveying solicitor handling the house sale (who was picked by my siblings) that it is...

www.askaboutmoney.com

Just a bit of background for context. There is no love lost between my siblings and I, and I don't trust them to play nice when it comes to money. I never wanted to buy a house with it, but it was that or be disinherited by my mother. I've had issues with the conveying solicitor before, and the only reason I didn't fight their appointment was to avoid the wrath that I'd get if I resisted.

 

[Clamball]

Right, I doubt if you will ever see a copy of the will. If I were you I would put all thoughts of the €25K or less out of my mind and if you ever do get a cheque then be pleasantly surprised.

 

[MisseyB]

Right, I doubt if you will ever see a copy of the will. If I were you I would put all thoughts of the €25K or less out of my mind and if you ever do get a cheque then be pleasantly surprised.

I think you're right. I was hoping that if the executors had engaged a solicitor that this would mean that the solicitor was obliged to ensure money was shared out as per the will, but if they're only acting on the instruction of the executor it's probably wishful thinking.

 

[TomEdison]

The first charge on your mother's estate will be her funeral costs (and, if others have already paid her funeral costs, they are entitled to be reimbursed out of the estate) and any bills or debts that may have been outstanding at the date of her death — medical bills, household bills, whatever. Also the costs of the administration of the estate, including the solicitor's fee. So not all of the €25k is going to become available for distribution to beneficiaries; a signficant chunk of it may be eaten up by these prior charges.

Whatever is left should be distributed in accordance with the will, and the solicitor will advise the beneficiaries to that effect. But they are not obliged to make those payments through the solicitor — they're not obliged to do anything through the solicitor,and the less they ask him to do the lower his fee will be. So they are quite within their rights to say "Thanks for your advice; we'll handle the distribution of the assets. Send us the cash, net of your fee, and we'll take matters from there".