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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33810
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My father died 8 years ago and my mother was his sole beneficiary. My

Resolved Question:

My father died 8 years ago and my mother was his sole beneficiary.
My mother died 9/1/2014. She had been living in a nursing home since October 2012, but the sheltered accommodation flat where she had previously lived is still owned by us and has a tenant currently living there.
They have four daughters. I am one of the daughters. Two of my sisters have power of attorney and are also executors of my Mother’s Will. The Will simply states that anything left after her death should be divided equally between the four daughters.
My first concern is that my sisters haven’t notified the banks where my mother has various accounts and they continue to draw cheques on these accounts.
My biggest concern though is that in September 2013 they have given a property investor £98K of my mother’s money which is tied-up until June 2014. This investment is supposed to pay a total of £21K interest (apparently being paid over 7 months at £3K per month).
I was not consulted about this investment, as I would have been against doing it. My mother was unable to deal with her financial affairs at the time the investment was made.
Are my sisters legally allowed to this with my mother’s estate and what happens if this investment is a scam and the funds disappear?
One of my sisters (who is an executor of Mum’s Will), is a solicitor, so hopefully she knows what she should and shouldn’t be doing.
Many thanks
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is XXXXX XXXXX I will do my best to help you
The bank accounts should have been frozen at the date of death and your sister should certainly be aware that continuing to draw cheques on it is in fact a form of fraud
The investment was something that the Attorneys were empowered to do and they are not personally liable for any loss
However they are liable for any actions they undertake as Executors which diminish the estate to the cost of the Beneficiaries
Please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33810
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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