Selling a house after probate - executor question

[CashewNut11]

Hi all

My DB and myself are the executors for my lovely late mum and will be selling her house once probate is granted.

This may sound a little odd, but how do I ensure the monies from the sale of the house are split 50/50? (mum's will made us both equal)

Thanks

Your conveyancer will split equally surely. Or are you talking about the estate as a whole? If so you make sure you make a final account of everything once sold and proceeds have been paid into the estate account before then distributing.

I take it you and your brother are also the beneficiaries with the money being split between you equally. Do you think your brother is going to try and take more than his share? As executors, you are both legally bound to ensure that your mother's wishes as expressed in her will are carried out.

The executors have to do the maths. Pay the debts, funeral costs, collect any money in. Pay any tax or overpaid pension. Then pay beneficiaries. Your mum’s bank might offer an executors bank account which would make the ins and outs easier to track. Sorry for your loss.

Thank you for the replies. Yes we are the beneficiaries.

I'm just trying to get my head around everything and trying to work out the rigour of it all, and what I need to pay particular attention too.

I'd like to think my DB does everything to the letter, but I can be too trusting and tend to believe everyone is upstanding and honest. I don't know him very well, we're not close.

So, probate is the valuation of the estate. The house can be sold once probate is granted. So do those funds then go into our solicitor's client account?

We have a solicitor dealing with probate.

The money goes to the solicitor, who will take any fees and then notify the executor when funds are ready to disperse.

All the beneficiaries are entitled to know the contents of the accounts, so it will be easy to work out what the total of the estate is after taxes and fees and how much each is owed.

The executors estimate the value of the estate and apply for probate. (You can do this yourself or ask a solicitor to help.and the estate would pay for this).,
Once you have probate you can sign off on the sale of the house, and you can appoint a solicitor to handle the paperwork for this. When the house is sold the estate agent, costs etc are paid and then the net amount is given to the executors.
If a solicitor is acting for the executors then yes the client account is used.

Thank you OneEpisode and Gingernaut, that is the kind of thing I needed to know.

I have a habit of expecting procedures to be well documented and above board, then all of a sudden I panic. It's really the nuts and bolts of it all that I like to know. That's when I can get to ask the forensic, granular questions for my own peace of mind (and to others' eternal boredom and irritation... Yes, I know... )

A solicitor can charge a lot to fully administer an Estate. Make sure you know how much their charges are and ask for an estimate of costs. If you want to you can do the leg work to keep the costs down.

@redastherose

A solicitor can charge a lot to fully administer an Estate. Make sure you know how much their charges are and ask for an estimate of costs. If you want to you can do the leg work to keep the costs down.

This is true but in this case it looks like it will be money well spent for the sake of OP's peace of mind.