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Buachaill, Barrister
Category: Law
Satisfied Customers: 11396
Experience:  Barrister 17 years experience
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I am a beneficiary under my grandfather's will and due to

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I am a beneficiary under my grandfather's will and due to inherit a small sum. My uncle and mother are executors. My uncle has handled the estate really and not used a solicitor. He has opted not to use an executors bank account but rather used one of my grandfather's accounts before finally closing it. On closing this account he proposed to move the full residual balance of the estate to his personal account, with direct distributions to all beneficiaries from there. It not a matter of trust, just a question as to whether because the funds are coming from my uncle's personal account, whether I need to worry about IT on his estate if he dies within 7 yrs.If I do, what can I do to mitigate this risk? They are proposing a simple acknowledgement form that confirms I am receiving funds in accordance with the will and they have done everything correctly, but is this enough? Should it address the means of payment, would this add anything? Thank you so much in advance.

Hello, and thank you for your question. I am your Expert and I will provide the answer you require.

Customer: replied 1 year ago.
Thank you. I look forward to receiving your reply.

1​. You are worrying unduly here. So long as your uncle has completed Probate properly and filed the necessary Inland Revenue affidavit, it does not matter from what account you receive the money. There is no way HMRC will treat it as part of your uncle's estate when he dies as they will have the Inland Revenue affidavit as a record of where the money came from.

Customer: replied 1 year ago.
Lovely, thank you. Is the Inland Revenue affidavit a mandatory requirement for grant of probate, or should I see a copy?

2. You should also realise that one cannot run the bank account of a dead man. So, it would not be correct practice to continue using the account of the deceased.

3​. An Inland Revenue affidavit is filed by the executor with a copy of the will when extracting Probate. Without it, probate cannot begin. However, it is not a public document. Unlike the will. However, if you ask the executor, he may be willing to share it with you. It contains the valuations attaching to items in the estate.

4. Be aware that the residuary legatee has a right to a full account of the administration of the estate.

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Customer: replied 1 year ago.
Thank you for your help. In terms of my original question, I think I have everything.

6. You are welcome.