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Administrators of estate

(7 Posts)
headisfried Thu 11-Jun-15 10:29:32

I'm hoping someone can answer this question please.
If a person died intestate do the administrators have to agree on how to share the estate or should they have appointed an executor to do it? Thanks

Mumblechum1 Thu 11-Jun-15 17:59:39

No the rules of intestacy apply. It isn't anyone's decision to make. Here are the rules: www.gov.uk/inherits-someone-dies-without-will

headisfried Thu 11-Jun-15 20:39:43

Thank you Mumblechum. That is what I thought. The estate solicitor has always said the administrators need to agree the value of assets and split equally. They don't agree and it seems the only way forward is to apply to the court for which we don't have the funds.

The confusion arose after taking more legal advise and they said that the administrators should have appointed an executor to divide the estate equally.

titchy Thu 11-Jun-15 22:21:00

If solicitor says estate must be split equally maybe all those who stand to inherit are equally related? Say all children or all siblings of the deceased?

Collaborate Fri 12-Jun-15 09:11:45

I think you may have misunderstood the second legal advice. If you die with a will, your estate is administered by executors. If you die without a will, they are called administrators instead.

Administrators can only be appointed by the court when probate is granted. If they are already administrators it is their duty to administer the estate in accordance with Mumblechum's link. If they haven't yet been appointed they need to apply for probate.

It might be that the assets could be transferred to the beneficiaries as they are, rather than sold and the cash divided. Your post doesn't make this clear. If that is the situation, unless the beneficiaries can agree what each asset is worth, it might be better that they are all sold. An alternative might be to get valuers in to determine what each is worth.

headisfried Fri 12-Jun-15 10:30:53

I was being vague so that I wasn't recognised, sorry. I guess it doesn't really matter if I elaborate.

There are four administrators. 2, for various reasons have done nothing to try and deal with the estate. It has been going on for several years.

One administrator lives in a property which is the main asset. They also have taken over the running of a business which is another asset.
There is a clever accountant on side with this administrator who has valued the business at £0 because in their opinion this person does all the work and without them the business would fold. Not strictly true.
The property has been valued at less than half the true value as it has taken into account that the administrator has the right to live in the property as part of their contract. There is no contract.

No one can afford to buy each other out at the true figures hence why they are trying to get the values down to what they can afford.

Solicitors have been unable to reach any agreement and now my solicitor has said there is nothing more they can do apart from advise me to instruct a litigation lawyer and go to court. I can't afford to do this.

Apologies for the essay but that's the situation. Not sure what I'm asking of you now!

Collaborate Fri 12-Jun-15 12:29:13

Sounds like you've received your advice.

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