Please or to access all these features

Add post

Watch this thread

Save thread

Start a new thread

Flip thread

Hide thread

My feed

Active Unanswered threads

Getting started FAQ's

Unanswered threads Acronyms Talk guidelines

Hide shortcut buttons

Talk

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Flip

1 2

Original poster

House sale after parent's passing.

35 replies

NotSureHowItWorks · 12/08/2021 01:58

Wasn't sure where to post this. How long after sale of a house where the proceeds are to be divided up as the will, would you normally expect to receive the money? Is two months since completion a long time?

OP posts:

cabbageking · 12/08/2021 02:05

All the bills need to be gathered in and paid first.

There may be council tax, and power to be paid on the empty property and usually an empty house insurance refund before anything can be paid out. Depends how quickly the bills arrive to be paid.
You can ask the executor how they are progressing.

Original poster

NotSureHowItWorks · 12/08/2021 02:07

That was all done weeks ago. I email but I dont get a reply.

OP posts:

cabbageking · 12/08/2021 02:13

Two months is not unusual. Are there any other items still to be sold or insurance schemes to be cashed in?

Original poster

NotSureHowItWorks · 12/08/2021 02:18

No nothing?

OP posts:

Sycamoretrees · 12/08/2021 02:19

It always takes far longer than seems reasonable. Are there other monies that need to be divided? If so it could be that these are still be collected eg. shares being sold. It's usual for everything to be collected in before anyone receives anything, and it can take a long time to be certain that everything is in order prior to division. Sorry for you loss, I hope the money situation gets sorted swiftly.

Original poster

NotSureHowItWorks · 12/08/2021 02:33

Thanks for comments. Looks like i'll just have to wait then, i've asked several times and they wont even give me an indication of whether it's likely to be weeks or months. Google didn't bring up anything useful so thought i'd ask here.

OP posts:

alexdgr8 · 12/08/2021 02:44

they may not know how long it is likely to be.
things always take far longer than expected.

AnotherOldGeezer · 12/08/2021 07:40

Who is (are) the executor(s)? And when was probate granted?

flapjackfairy · 12/08/2021 07:44

My husbands uncle died in dec and left his estate to be divided between his nieces and nephews. There was no house to sell even but it is still ongoing and we have been told it could be several months yet ! No idea why or if it is normal practice though .

Charley50 · 12/08/2021 07:54

Who is the executor? A family member or a solicitor?
I've done probate including a house sale for my parent. I keep accounts as I went along so was able to wrap up the estate more or less as soon as the house sale went though.

You could ask for a share of your share now, even if they have a few more things to sell or pay for. Is there inheritance tax to pay?

dementedma · 12/08/2021 07:58

My father's house was completed in early July. A very simple estate with no complications. No sign of any money from the will yet.

AnotherOldGeezer · 12/08/2021 08:01

Is a firm of solicitors the executor? Are there any other executors?

NinDS · 12/08/2021 08:07

It took 4 weeks from completion of my grandmas house for the inheritance to come through.

Timeforabiscuit · 12/08/2021 08:07

The last bit of paperwork for probate I found really difficult, I came close to just asking a solicitor to sort it out (they assured me I'd done the hard part already).

This was after the sale, but sorting out tax, pension overpayment, council tax, final utility bills- just took ages. This was a sale within family, so funds transferred quickly -it was just settling everything else.

SheWoreYellow · 12/08/2021 08:09

Do you know what they’re waiting on?
Ours is for HMRC to decide an amount of tax payable on something, which is taking ages.
They did release some funds in advance of that though.
I think it’s a piece of string question. It can take a year or two I’m afraid, but hopefully won’t.

Itsallthedramamick · 12/08/2021 08:13

My dad passed away 12/02. We have sold his property but are still waiting on probate so can't complete. Should be this month. There are long delays (Covid obvs being blamed) to an already lengthy process unfortunately.

Itsallthedramamick · 12/08/2021 08:14

Sorry it seems you've completed so must have probate. I would think 2 months is a long time. My solicitor has assured me the funds will be in our bank this month

wonkylegs · 12/08/2021 08:14

I believe it's been taking longer than usual at the moment because the probate system has been very busy.
We have a family member who died last year and they expect the estate funds to be distributed in November which will be 1yr since she died.

Mindymomo · 12/08/2021 09:58

The sale of the house cannot go through until the Executor has probate, so presume this has been completed. To apply for probate you have to fill in inheritance tax forms, which can be complicated depending on how much house is worth, money in bank etc., Despite Probate Office saying probate would be delayed last year, I completed my FIL’s probate forms and got probate granted about 8 weeks after, there was no tax to pay. The sale of the house took about 12 weeks and the sale money was forwarded to me from my Solicitor a few days later. I would keep on at the Executor.

BertiesShoes · 12/08/2021 11:48

Who is the executor? Was there cash in the estate too to finalise bills from? Is estate subject to IHT?

When my mums house sold, our solicitor paid the estate agent and her own fees out of completion funds, then split remainder between my brother and I directly on the day of completion.

I had already pulled in and split the cash reserves, but think I probably held a small amount back for final bills. There was no IHT due.

On the other hand, my kids benefitted from a relatives estate for which solicitor was also executor. It was weeks after completion of house sale before the final money was distributed, as there was final IHT to calculate and pay.

MauveMavis · 12/08/2021 11:51

House was sold in Jan.

Still waiting for funds - and we are expecting it to drag on for another few months.

BertiesShoes · 12/08/2021 11:53

Why are people talking about probate?

Op has clearly mentioned completion of house sale - this can’t happen without probate so this must have been granted?

Op, I am guessing delay is due to HMRC if IHT is due, plus if solicitors are executor, they are very very slow.

My daughters inheritance was passed into our control (only u18 beneficiary), rather than stay with solicitors, and that took months even after she agreed and we signed transfer forms. The solicitor just ignored my emails and/or lost our signed forms!

Ifailed · 12/08/2021 11:57

My dad passed away 12/02

December 2002?

Gemma2019 · 12/08/2021 12:00

I was executor for a family member recently and sold their house in May. After the house was sold the only thing I had to wait for was final bills from all the utility companies and council tax, and the refunds took three weeks for some of these. When all the money was in, I finalised the estate accounts I had been preparing as I went along, and sent a copy of this to all of the beneficiaries with the money. That was about a month after sale of the house so two months does seem a long time.

Itsallthedramamick · 12/08/2021 17:44

@Ifailed or 12th Feb? 🙄

Flip

1 2

Swipe left for the next trending thread