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Benefits & being Executor

9 replies

Hippychicken1 · 03/12/2021 14:49

My friend is the Executor of her late parents will - Estate she is not a beneficiary
Beneficiaries are grown up grandchildren
However she is worried because she get ESA / and HB will she be in any trouble when the money from the sale of the house goes into her account from the sale of the house
She opened up a separate bank account in her name for the estate and any payments to go into and she has to transfer the money to the beneficiaries
She has a copy of both parents wills naming her as an Executor but not a beneficiary and can easily prove this but she get very anxious and stressed

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Hippychicken1 · 03/12/2021 14:52

Meant to add Wills were done several years ago and all in order

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stayathomegardener · 03/12/2021 14:53

Get it paid and distributed via a accountant/solicitor clients monies holding account.

Better still get the solicitor to oversee all decisions as she will be personally financially liable for any perceived mistakes.

Use the deceased parents funds to pay this as an expense.

TeenMinusTests · 03/12/2021 14:55

Is the account in her name or as 'Executor of Joe Bloggs Estate'?
I seem to recall getting cheques from accounts in that kind of name previously.

Hippychicken1 · 03/12/2021 15:31

Account In her name the bank wouldn’t do an account like that
Solicitors said as they aren’t administrating the estate it has to go to the executors account
She’s got probate and apart from the house it’s all quite simple
She’s kept accounts and all the paperwork is up to date
She was asking me as I’m the executor of my parents estate but not in the same position as her

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Gearedtoyou · 03/12/2021 15:58

As long as she keeps all records to show that it wasn't her money she'll be fine. They won't/can't check her accounts without her knowledge anyway and if they do she'll be able to show why the money should be discounted.

All the advice is that you should open an "executors" account, but as you friend has discovered, finding a bank that will do it is not easy.

Hippychicken1 · 03/12/2021 16:22

@Gearedtoyou thank you
I think what she is mainly worried about if they the DWP see the money stop her benefits and then she has to prove it’s not her money which she can do easily but it’s stressful
And then because her claim is stopped she would have to go on to Universal Credit at the moment she is on legacy benefits so she would be worse off

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Fuuuuuckit · 04/12/2021 19:17

Cant the solicitor who is selling the house dispense the funds directly to the beneficiaries? There will likely be a small cost for the extra transactions, but if that is the instruction in the will then your friend is exactly following the will, and no funds will go into her estate.

Just get it documented to correspond with the will and there shouldn't be any confusion.

gogohm · 04/12/2021 19:20

The money from the sale of the house can be dispersed straight from the solicitor. But one consideration is to ensure the will is watertight- that it isn't going to the grandchildren to protect the benefits situation

Hippychicken1 · 05/12/2021 10:03

The wills were done several years ago I think in 2016 so no issue with the will and her being on benefits her late mother will was the same as her fathers will . Money to the grandchildren

The solicitors have said as they aren’t administrating the estate it has to go to the executors
I will just tell her to document everything
Thank you x

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