Cash assets - inheritance

[RosaMoline]

My parents have now passed away, mum recently.
My brother is the executor of the estate - there is a property to be sold at some point (we’ve all made a small start in trying to clear it out)
The inheritance is to be a 50:50 split between me and DB.
My question is - the savings and what’s in the bank account - I believe this amount to be in the region of approx 80k - can I get my share soon before the property is sold…I could really use it, to be honest. Or does probate have to be granted - and when that happens, can inheritance be granted in two stages - savings etc, then the property bit when it’s sold?
Thank you.

Yes. After you’ve received the grant of probate the bank will release the money to the executor and then it is distributed. The house needs to be valued for probate and then sold and then money from the sale halved.

It is usually to keep some money back to pay for bills and other debts that may come out of the woodwork.

You can’t sell the property without a grant of probate. Cash may be released without a grant, depends on the amount and depends on the bank. Bank of Scotland transferred the funds to me without a grant, just needed the death certificate. However, cash funds may be needed to pay for insurance on deceased’s property, utilities etc so generally not distributed to beneficiaries until all debts have been settled, house sold, any tax returns completed etc.

Each bank has different amounts for whether probate is needed or not, even if they require probate banks usually have a procedure for releasing funds like funeral bills. You will need probate for selling a property. If you brother is sole executor he needs to sort the estate and you await for him to distribute to beneficiaries.