Query about winding up an estate (Scottish law)

[ortak]

Please could anyone explain a couple of questions re a very long drawn out matter?

I am the executor of my parent's estate. My only other sibling was 'written out' of the will in favour of their child.

They have contested the will and are entitled to a share. The problem is that they are insisting that our parent's house should be sold despite late parent's wish that the property be rented and all income to the rent go to the grandchildren until they were 21. (Grandchildren are still young)

My questions are:-

Can we have some valuations done and buy out the share of sibling?

Is it usual for the solicitor to hold back the financial part of the will until the property is sold? They refuse to release funds despite all being cleared in court.

Many thanks

Hi it is difficult to give a full answer without seeing the will etc but generally it should be possible to buy out the house subject to agreement about value.Re the cash it depends on the amount to some extent,there can be a reluctance to pay out in case too much is paid particularly in a situation like this where there is conflict It is safer to complete the administration.However it should be possible for payments to account to be made As excutor however the decision should be yours not the solicitor's/Are you sole exec.I suggest a meeting to discuss these points

Thank you Rangirl.

Yes, I am the sole executor.

The finances have had clearance in court and the solicitors have paid themselves but not released the funds to the children.

We are happy to offer a good price to the grandchild who has a 1/4 share in the house but are being told that we are not allowed to do this.

Parents did not leave a lot of money and the house would be classified at the lower end of the property scale (ie worth much less than say £100,000)

I am terribly confused and am being pressurised by the solicitors to sell the flat even although two grandchildren and I do not want to.

I am a bit confused re the flat In your 1st post you say they (sibling) insisting on flat being sold but then you say you want to buy out a share.If there is not much cash I can see why soilicitors are holding on to it,particularly as it is not clear what is going to happen Ho long is it since your parent died.You need to request a full written explanation of the position from the solicitor followed up by a meeting You should not be confused It is solicitor's job to make sure you are not(I am a solicitor)

Sibling is insisting that the flat is sold (monies from the sale goes to their child as one of three grandchildren. Sibling not entitled to share of the house (fixed assets?)
Sibling thinks that more money will be made if the flat is sold on the open market.

(The flat is in need of complete renovation so would not realise much at all). The best valuation was £65 k.

Parent died two and a half years ago.

Eldest grandchild (over 21) is loathe to see flat sold due to personal reasons. The other two grandchildren and under 16.

The solicitors have taken their fee even although they have not finished winding things up. A very hefty fee, I might add.

If you are not happy with the advice of the Solicitors then Sack them.

Your sibling has No right to "insist" that the property is sold.

What do I do now? They (solicitors) have taken a few thousand pounds as payment and now want £3000 more?
I have asked for an itemised bill (again) but am very angry.

I cannot get access to my files, paperwork until they are paid.

Ok it really does depend on ex wording of will but as you are sole executor you really should be in control of things.Normally it is possible to 'buy out' the share in the flat .Tell solicitor that is what you want to do if they say no ask specifically why not.If you are not happy with solicitors you must tell them this.Contact them ,say you are not happy about.... list the points including level of the fee,lack of itemised a/c,the positition re the flat Say you want the matter referred to the Client relations partner. If they are a decent firm at all that should spur them into action Remember as sole executor you are the client

I have written to ask for an itemised account today (thanks for that!)but have been very disappointed in the lack of coherence when I have pointed out areas of vexation or things I do not understand which have been left unexplained.

You are right, I have decided to change solicitors and to try and gain some control over the winding up of the estate.

Thank you all for your help and advice on this matter.

good luck!