Named in will, but executors playing silly beggars! Help!

[Swapsie]

I've also posted this in AIBU, but thought I may get different/more practical advice here.

I've name changed, but am a regular.

I was left a sum of money in a close family friend's will, whilst it is not mega-bucks, it is a significant sum for me and would clear my credit card and overdraft. After a series of large and unanticipated bills arrived at the most inopportune moment, I'm really on my beam ends.

The estate went through probate and wasn't contested. All funeral expenses and debts have been paid. This all happened in August last year. One of my parents and another person who was friends with the deceased were appointed executors. They are also significant beneficiaries in the will.

The main asset of the estate is the deceased person's house. However the executors haven't sold the house. The house was initially' put on the market, shortly after our friend's death. However since then, they've taken it off the market for a while, in order to undertake cosmetic repairs using the estate's money and then put it back on the market at a significantly higher price.

As a result there is no or very little interest in the property and enquiries have dwindled to nearly zero. They also rejected a decent offer just before they made the upgrades.

I think it is the other executor rather than my parent who is driving this and is being difficult and has said she'll not accept a penny below the asking price, but my parents have gone along with this. I have been of the view that when the property failed to sell, it should have been discounted or put to auction, rather than being tarted up and put on the market for more money.

I don't want to come across as greedy or grasping, but feel I am entitled to the money that was left to me and I should have been paid out by now.

By the same token, I don't want to cause a family row. What are my rights in relation to the money in the will? Are there any times limits before they HAVE to settle the estate?

Can they sit on the house indefinitely? Other beneficiaries (mostly charities) are getting a bit ticked off now as well and have started making phone calls to the Executors asking when the estate is going to be settled.

Sorry, I find it unbelievable that charities would be hassling for the estate to be settled!

You've had a lot of advice on the other thread. Mine would be to respect the trust that the deceased put in the executors.

I was surprised too, but they employ companies to chase up legacies.

Charities are notorious for chasing for legacies! They absolutely do not give up.

YY, a solicitor told me that charities are notorious for wanting every penny due to them, eg if the charity was given a share of the estate, rather than a named lump sum, they would demand their share of every penny of the estate - which would mean melting down wedding rings etc and splitting the proceeds, nothing could be left for sentimental value.

Is there a solicitor advising the executors, and if so, have you/the other beneficiaries been in touch?

Hi Swapsie. I am a probate lawyer so I come across this type of scenario pretty regularly.

First of all for those who don't believe that charities would "hassle" anyone for their share of an estate - how wrong you are my friends! Charities ( particularly the large national ones) are notorious amongst probate lawyers for demanding their pound of flesh. They employ agents to check wills for gifts as they come to probate and often have in-house legacy officers whose main job is to follow-up estates and ensure that they are paid and their share maximized ( ie selling property for top price etc). And it is quite true that they will insist that all household contents are auctioned including items of sentimental value to ensure maximum payout. I had a case about 2 years ago where the family had to attend an auction to bid for their own father's watch and wedding ring because he had left "everything" to charity and the charities refused to make an exception.

But that's by the by.

With regard to your own situation Swapsie I have to say that best practice would have been to pay out you and the other legatees ( including the charities) from the cash assets in the estate. The property could then have been assented ( ie transferred) into the joint names of the beneficiaries who the use their own funds to renovate it ( getting a loan if necessary). Once the property sells they can split the proceeds as per the will and repay any borrowing. However this has not happened and they have effectively borrowed the funds to renovate the property from the estate ( ie from you and the other legatees).

As stated on the other thread you are entitled to interest on your legacy which runs from 12 months after the date of death to the date you are paid. The charities will be very much aware of this. The 12 month period is known as "the executors' year". The current rate of interest is 0.3%. I would try reminding the executors of their obligation to pay interest on your legacies. The charities ( if they are big ones) will have access to legal teams and substantial funds so they will get more aggressive. The RSPCA recently mounted a challenge against an estate which cost them £1m in legal fees so they are quite willing to fight for their money.

I understand that you don't want to start a rift with your parents so this will be a difficult one to resolve. There is no time limit on the administration of an estate but clearly costs will be continuing to accrue ( insuring and heating the property plus payment of council tax etc can be extortionate). Generally I would suggest to someone in you position that they engage a solicitor to send a letter to the executors chasing for release of the legacy but I can understand why you wouldn't want to do this. Maybe a chat with your parents just mentioning the interest issue as well as the ongoing maintenance costs of the property might be enough for them to put pressure on the co-executor to accept a lower offer or go to auction. You may also want to check with the local council regarding council tax. One of the councils that I deal with ( Doncaster) have recently announced that where properties stay empty for 2 years or more then they will charge 100% premium on council tax ie it will be double. Empty properties also often have onerous requirements in respect to their insurers. Most that I deal with have a clause stating that the property must be inspected at least every 14 days and the heating must be left on to prevent pipes freezing etc. This all adds to the time and cost issues.

I hope this helps a bit. PM me if you want to ask anything else.

And as someone said on the other thread - this is why you should never have the same people as executors and residuary beneficiaries.

Thanks everyone especially poshfrock. I will have a chat with my mum when I see her in a few weeks time. I hope the charities will prove useful in concentrating the executors minds.

How can the estate pay you if the house hasnt been sold?

and yes i agree about charities.