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Will / inheritance question

6 replies

custardbear · 24/03/2021 08:01

Hi
My mum died about 8 years ago, and my step dad, more recently, passed away too )summer 2020.
There are children on both mum and step dads side. As they were living abroad and due to Covid my step dad adjusted the executor to the lawyer dealing with the will to sort.
She's sold the house (just finanlsing) and sent info of the wills by email as well as pictures of things we may like to keep and they'll send them back tonthe uk which is all great.
She's never actually got us all together on a conference call to say there's XYZ assets/finance. Is that right? It's been 8 months since he died, we have no idea of the financial side - is it just that it takes time and that other part where they bring the 4 children together and tell us what the situation is financially.
Thank you

OP posts:
Palavah · 24/03/2021 08:17

Depends what you've been left. If you've been left £5k then they have no need to tell you what the estate is worth. If you have been left 25% of the estate then you'll find out at probate?

prh47bridge · 24/03/2021 13:13

There is no requirement to get everyone together and tell them the value of the estate. The executor must prepare estate accounts. The residuary beneficiaries (i.e. those entitled to a percentage of the estate rather than a fixed amount) are entitled to see the estate accounts. If it has only been 8 months since your step dad died, it may still be a few months before the executor is ready to distribute the estate.

123344user · 24/03/2021 13:30

If the solicitor is selling the house that sounds as if probate has been obtained, so that (including estate value) can be looked up online for £1.50.
The solicitors will have to take their executor expenses out of the estate so the amount to be distributed will be a bit less.

prh47bridge · 24/03/2021 14:07

It is also possible the house will sell for a different price than the one declared for probate, so don't rely on those figures.

custardbear · 24/03/2021 14:17

Thanks - yes 25% as it's being shared equally across the children. House price and sale agreed so know that value but no idea about other assets
Thanks all 👍

OP posts:
custardbear · 24/03/2021 14:18

@123344user - they're in Australia so maybe not be something we can look up, but thank you

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