Advice re property inheritance

[Bella1905]

Please can I get some advice from someone who has knowledge of this. A family member passed away leaving property A to person 1, person 2 and person 3. They left property B to person 4, person 5 and person 6. Property A sold 2 years ago. Property B sold 6 weeks ago. The executor has only paid person 1, 2 and 3 part of the proceeds of the property A sale and is holding a large chunk of proceeds back until Property B is wrapped up, CGT paid etc. Is this right of them? Thanks

Until everything is sold they can’t release funds because each month there will be costs, the executor needs to pay those expenses eg utilities etc. now everything is sold the final accounts can be done and the remaining money transferred

No idea but I will give your thread a bump.

Where are the proceeds of property A being held and who will benefit from the interest?

Thanks both. @SixAndJulietthe executors law firm is holding them. I am unsure re interest.
@bababamamathank you for replying. Would the legal fees for anything carried out after Property A is finalised (relating to property B) be incurred by person 4, 5 and 6 (ie the beneficiaries of property B since it is for that property)? Thanks

Yes. Until everything has been finalised the estate cannot be distributed.

All funds are not released untiil probate is completed. And if capital gains tax is due then that's probably why funds are being witheld. Also solicitors fees will need to be paid. I don't know if the fees due for the two house sales would be separate. I agree with the poster bababamama

I have just gone through a similar situation.
The legals won’t release anything until all is gathered in, taxes etc are paid, and so on.

They might make an interim payment to inheritors but what you have described is more complex so they’ll probably wait until everything is “free and clear.”

in my case an interim inheritance has been distributed but the solicitor has retained funds until a pension fund & HMRC has been finalized. Only after that will the recipients get their final inheritance. It’s a long haul!

Thanks all for the really helpful replies. Its lengthy and frustrating but I feel better knowing it’s all very standard for money to be held back for so long.

Yes, it's absolutely standard. Until everything's wrapped up, probate granted and the solicitors paid, it can't be certain how much money is available. A,B and C are very lucky that they've been given an advance. It's not generally recommended, as far as I'm aware.

I know it's frustrating. It took two years to get my mum's property sold and the estate sorted. I was starting to think that the day would never come. Neither my brother nor I saw any of it until the solicitors sent their last email and wished us well

Yup agree perfectly normal.

The executors need to have funds to cover any expenses occurred in the on going looking after and sale of property B. While if they didn't have the funds from property A , they would have to do this from their own money, given there are funds from property A, it is reasonable for them to use these funds for this purpose until property B has sold. However I think it would also be reasonable for the inheritors to ask for a breakdown of how the missing funds have been used for example

09/09/26 September's 1 month insurance £100
21/09/26 electric bill £X
22/09/26 replacement of leaking tap £Y

Property B would also still be liable for council tax, possibly at a premium rate if empty for 2 years. This would need to come from the estate.