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From a legal point of view, the money should be kept separate from any other money of the executors as it becomes mixed money if it goes into an account which has money in for any other purpose.
That’s only becomes problematical if there comes an argument over the money. This concept of mixed money is very difficult for some people to understand. If someone puts £100 into an account which contains £50 and then, they take £100 out, there is no guarantee that the £100 which comes out is the same £100 that goes in. The mathematics are the same but it’s not the same physical money. It may seem rather academic but that’s the way the law works.
The solicitor would normally put any proceeds into a client account because there is no argument as far as the solicitors concerned and if it’s going to be held for any period, it would put it into a designated client account for that one client.
There is nothing to stop the solicitor distributing any funds directly between the beneficiaries following the executors instructions in accordance with the terms of the will.
Can I clarify anything else for you?
Let me answer it a different way. There is nothing illegal in it going to any account in anyone’s name, it is just better practice to keep it separate.
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