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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33507
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Is an executor allowed to withhold funds to be distributed

Resolved Question:

Is an executor allowed to withhold funds to be distributed from the estate in full and final settlement by requesting a statement that says beneficiaries accept the funds in full and final settlement and to the satisfaction of all claims of any nature which they my have against them?
Thank you
Mrs Shand
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is ***** *****
I will do my best to help you but I need some further information first.
What disputes have there been?
Has a full Administration Account been provided?
Clare
Customer: replied 2 years ago.
Disputes regarding the delay of sale of the relevant property in Ireland. Withholding information regarding the estate, failing to protect the value of the assets and finally delay of distribution of funds.
A full administration account has been received with the additional bill for the disputes.
Liv
Expert:  Clare replied 2 years ago.
Hi
May I just check - this is an Estate dealt with under UK not Irish law?
Clare
Customer: replied 2 years ago.
Hi Yes this is an estate dealt with under UK law. I can provide the solicitor's letter if you need some context. Probate was given in the UK. The funds are ready to distribute as the property has been sold and funds were transferred back to the UK.
Expert:  Clare replied 2 years ago.
Hi
It is not an unreasonable request - but they certainly cannot refuse to release the funds until every beneficiary has signed.
They can say that if no objection is received within xxx weeks then funds will be released to those who have returned the signed documentation
That allows money to be retained to cover any costs of a further dispute if one is raised
Please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33507
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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