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F E Smith
F E Smith, Advocate
Category: Law
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Experience:  I have been practising for 30 years.
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This is ongoing from a previous thread. If an inherited

Customer Question

This is ongoing from a previous thread. If an inherited estate only had property (not yet sold) and cash and the cash is running out who's responsible for paying the ongoing bills (council tax, insurance, energy)? I have been the main executor and deal with the finances (my brother the other executor has remained passive throughout the process). There a 4 beneficiaries.
Submitted: 7 months ago.
Category: Law
Expert:  F E Smith replied 7 months ago.

The executors are responsible for the physical payment but have no financial liability. The situation with Estates having no liquid assets is not uncommon and if the executors send a copy of the death certificate and confirm when probate was applied for and that the property is being marketed and asked for some indulgence with regard to the payment of bills, the executors will find that the various creditors will grant some leeway with regard to payment to allow the house to be sold to realise the money to pay the bills.

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F E Smith, Advocate
Category: Law
Satisfied Customers: 8976
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Customer: replied 7 months ago.
Thank you for your response. Just to be clear as I am staying at the property for the time being and paying for council tax and energy (not the insurance) out of my own funds, if the estate cash ran out would the joint executors still be able to ask the creditors to grant some leeway?
Expert:  F E Smith replied 7 months ago.

If you are staying in the property on your own, would be liable for all the bills and maintenance plus, three quarters of the market rent would achieve if on the open market, and you would be liable to pay that to the other 3 beneficiaries if they asked.

The executors always can ask the creditors to grant some leeway but the creditors may ask for proof that there is a genuine attempt being made to liquidate the assets and your occupation may be seen as a barrier to that.

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