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JGM, Solicitor
Category: Law
Satisfied Customers: 11154
Experience:  30 years as a practising solicitor.
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I'm the executor of my late mother's will. I got grant of probate

Resolved Question:

I'm the executor of my late mother's will. I got grant of probate today. She made a number of cash bequests. Each is of £1000 or less.
There is not enough cash in her bank accounts to pay all these. There will be enough once her house is sold, but that will probably take months. Most of the legatees don't currently know they've been left anything.
Should I (a) wait till the house is sold and then tell them and pay them, (b) tell them at once that they are going to get something but will have to wait till the house is sold, or (c) pay them at once out of my own money?
Option (c) wouldn't leave me out of pocket in the long run, as the remaining value of the house will come to me. I don't have enough cash myself for this option, but I could borrow from my wife and pay her back when the house is sold.
Which option is best, ***** ***** there some other option?
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
There is no obligation on you to pay the beneficiaries until the estate is wound up and the house sold. It is up to you whether you tell the beneficiaries. If it was me I wouldn't so as to ensure they don't hassle you during the process of winding up and sale. I would deal with that and then tell them they are getting a legacy. I hope that helps. Please leave a positive rating so that I am credited for my time.
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