Bequests from will

[Eckhart]

I'm executor of a relative's will, and am applying for probate. I haven't got the inheritance tax sorted yet (there shouldn't be any to pay but it'll take a while to get the evidence together), and one of the banks is able to release £50 000 before probate.

Has anybody been in this position? I could make all of his cash bequests, and improve Christmas for quite a few people (which he would have loved to do), but I'm not sure if I'm allowed to start distributing his estate before the probate process? I can't believe they'll let £50 000 go on the strength of a couple of documents!

I could have posted this in 'money' but I posted there about another issue yesterday, and only had 1 response.

I'm not an expert but I've been an executor twice and handled everything without using a solicitor. The probate office told me was that I could distribute earlier if I wanted to but the risk to me was that if it turned out there was tax to pay or any debts to pay from the estate then I personally would be liable if there wasn't the money to pay from the estate.

That's what I though, thank you, Billericaydicky

I can't see any risk. The £50 000 is about a sixth of the estate, I'd only be giving about half of it away, and I know that the deceased had no debts because I've been looking after his finances for the last few years. The estate shouldn't quite be liable for IHT (or if it is, it'll only be a small amount), and I'm beneficiary of the residue, so anything that comes up, I should be able to cover with no problems.

I've never done this before though, and I'd hate to screw up with his money.

My dh was an executor to a will and waited until after probate and then distributed bequests.

But could he have legally done so beforehand?

I was in a very similar situation and distributed early after speaking to the probate office. I didn't want to do anything illegal.

Why not give them a quick call, they are extremely helpful.

Same experience as @Billericaydicky

The potential issue is inheritance tax, but if you're confident that won't be a problem then go ahead. We did similar, made sure we had documented everything we did and got recipients to sign.

Everyone in our case was friendly and civil, there was no possibility of anyone feeling any decisions had been unfair. Everyone was in agreement. I think if there had been any tension or anyone had been unhappy we might have waited.