How long does it usually take for beneficiaries to receive money after a death?

[hll0914]

My grandad passed mid December last year and my mother is the executor of his will, we started the solicitor proceedings within days of his death due to his house being partially owned by a equity release company. We needed to sell the house and pay off the debt quickly as it was accumulating up to £600+ of interest every month. The house sold on January 17th, to CASH buyers (solicitor told us this was great as the sale could go through within a matter of weeks) The solicitor has sent us a letter outlining how much money he had, how much was owed and listed all his known assets along with final figure (his assets minus any debt he owes) that is to be split equally between myself and my sister, the oath to the will has been signed etc however now I feel as though the solicitor is just dragging her feet. She's charging £215 per hour which is paid for by myself and I'm concerned shes purposefully just taking longer so she can charge us more. The new owners of the house still haven't been able to move in and I fear that they will eventually get sick of waiting and withdraw the sale. How long does it take to settle a will? We've been waiting for 5 months now and he doesn't have a very complicated estate at all. How much longer do you think this will take?

It took six months after my DDad died for beneficiaries to receive their inheritances.

Everything was straightforward, sometimes these things just take a while

In my limited experience, at least six months. A relative passed away with no property to sell and straightforward finances, it took six months to sort out. (I wasn't involved so don't know the ins and outs of settling an estate).

I hope someone can help you with your questions... It sounds stressful.

It is a very long time to wait for a cash sale! You have every right to ring the conveyancer and ask what on earth is going on with the sale. Ask is there a completion date? If not why not? Etc

Unfortunately I can’t advise on the Will side of things

Six months until I got the first payment from my DM’s estate. A year before the whole thing was tied up and finalised.

I was the only beneficiary/ executor though, which may have made things a bit more timely.

Our house was a probate sale - we agreed the price at the start of Sept and then was forced to wait 4 months before the grant of probate came through to enable us to exchange contracts followed by completion. It was straightforward with no complications other than waiting for the grant of probate.

Ask the solicitor whether probate has been granted yet. The house sale can't be completed until probate. Probate can't be completed until the HMRC have agreed the inheritance tax return. Probate and IHT are dealt with by public sector organisations which operate at a snail's pace.

I was executor for my late mother, and I did absolutely everything as quickly as I could, but I was chasing HMRC and the probate office regularly, and it still took 6 months to get probate.

In my experience its a how long is a piece of string question. With my dad's estate it took years as he left no will and there were all kinds of problems. My Father in Law passed in August last year and we haven't even been able to put his house on the market yet, although probate is now apparently imminent. Although that's in Ireland so may be different. So try not to be impatient, its along and stressful situation. And don't get me started on solicitors!

I sold my mother's house and dealt with probate myself. It took 3 months from the date of her death to me receiving the total of her estate, including the proceeds of the sale and all her savings etc.

Probate was super fast, I was really impressed. The probate office issued the oath 6 weeks after her death and then I received the final paperwork from them about 10 days later. HMRC were also very quick.

DH has recently lost a parent, and again, the process has been very speedy and straightforward.

I thought there was a six month wait and whilst some funds can be released after probate there is usually some retained in case of a challenge - this might be delaying the release as the equity release company presumably benefit from delays as well?

10 months so far and not a penny has come my way. Mind you my solicitor is terrible and there is an on going dispute over how their fixed fee has more than doubled

Absolutely no 6 month wait in our case. The house sale completed exactly 3 months after my mother's death and funds were released to me as executor straightaway.

What’s the delay? you say the house sold in January but the new owners haven’t moved in yet: hasn’t the sale completed? If not why not?

My DF's estate took nearly a year and we are currently waiting to finalise my MIL's estate who died in November. It's not just about selling the house it is about ensuring all the creditors have been paid from the estate (and some of them take ages to send final accounts) and also any HMRC payments.

I was left a specific gift amount of money in a will last year. It took about 4 m8nths from the date of death to the arrival of cheque. The rest of the beneficiaries who were given an equal split of the remainder had to wait another 8 months for their shares.

It depends on the estate. I've recently received a small inheritance from a relative which took 6 months to sort out. The estate of another family member has taken 18 months so far & counting, but it's not a straightforward one.

We are currently cash buyers of a property, we made the offer end of Feb and hope
To complete next Month. Even though we don't need a mortgage we still have to arrange a survey and get all the local
Searches done. Just takes some time.

MIL died last year and her house has only just gone on the market

Over a year after my dad died, managed by a solicitor ( I was co executor) who refused to stand down. The lesson for me is I will not name a solicitor as executor when I make my own will. I could have done it faster and saved £5000.

It can take up to a year even without a lot of complications. . I don't think solicitors do fast. So December is no time at all in their world. And the equity release debt to be paid does make things a bit more complicated. You could ask when this equity interest will stop accumulating as I'd say that was the most worrying thing. And the solicitors expenses should be taken off the estate and you shouldn't be paying them yourself IMHO.