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Hello and thank you for your question. I will be very pleased to assist you. I'm a practising lawyer in England with over 10 years experience.
Many thanks forthe above and I apologise I wasn't able to reply to you last night. What you have been told is almost correct but not quite. It is not that you need to credit check beneficiaries. It is not possible to carry out a credit check on someone without their permission and there is no need for an executor to carry out a credit check. Credit checks as you will be aware are used by potential creditors to check the risk associated with lending someone money. An executor is not lending money but distributing an estate so has no interest in the credit risk of a person.
What an executor is interested in however is whether a beneficiary has been made bankrupt. This is because if a beneficairy is bankrupt then his share in the estate should instead be paid to his trustee in bankruptcy and if the executor instead pays the share to the beneficiary direct and the beneficiary spends it, the bankruptcy trustee may still claim the money potentially from the executor because he can claim the executor has been negligent which could leave the executor personally liable. So you need to know whether any beneficary is bankrupt.
If youhave a solicitor acting for you he can carry out an official bankruptcy search. If you are handling the estate yourself you can search the bankruptcy register using the following link:
If any beneficiary is bankrupt you will need to contact their named Trustee in Bankruptcy for instructions as to where to pay his share, otherwise you may pay the share to the beneficiary as normal.
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