Chit Chat
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17 Dec 09
13:16
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27 Sep 03
A distant aunt of mine died and my cousin was appointed executor of her will. After a lot of hassle, he distrubuted the money, but part of it was held back as one relative (or their descendents) couldn't be traced.
We are now three years on and ONE year ago (only just found this out) the solicitor involved advised that the search be ended as it was unlikely anyone would be found after all this time. My cousin (the executor) has now informed me that the remainder of the estate has been invested in a one-year bond to "allow time for any descendents of the missing relative" to come forward! This is the first anyone of us have heard of this because he hasn't asked, or informed us. Is he legally allowed to do that?
We are now three years on and ONE year ago (only just found this out) the solicitor involved advised that the search be ended as it was unlikely anyone would be found after all this time. My cousin (the executor) has now informed me that the remainder of the estate has been invested in a one-year bond to "allow time for any descendents of the missing relative" to come forward! This is the first anyone of us have heard of this because he hasn't asked, or informed us. Is he legally allowed to do that?
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I'm currently acting as executor (with grant of probate) - and I would think yes. As far as I know we have absolute right to deal with the estate in accordance with the deceased wishes and to the best of our ability. Sorry!
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go back to searching in the bins
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Ivor:
so what happens if he wants to put it into a 25-year bond - could he do that? Surely there must be something in place to ensure that the money eventually gets to the beneficiaries? |
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he can decide whatever he thinks the original beneficiery would want. so yes. None of you are beneficieries of that outstanding amount
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Good question! There's nothing in the paperwork to cover such eventualities.
I imagine the potential beneficiaries would be entitled to take legal action in that extreme case. Dunno. |
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yeahyeah, you obviously disagree with his actions. What are you wanting?
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He is doing a thorough job . I cant see what the problem is.
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Magic Flea - my, you're in good mood aren't you....
ok, some more background My aunt died without leaving a will, and her estate was split between 6 of us. Only 5 of us could be traced (long family saga regarding #6) and, eventually, we received our share. If the sixth person can't be traced, then their share will be split between the remaining beneficiares. This has been dragging on for some time now, the solicitor has archived the file - this missing relative was also searched for many years ago when another relative died (same executor). Just how much longer is the exector allowed to drag things out when there has already been a previous search was unsuccessful? What happens if he wants to puts the money into a five-year bond after this one matures? Surely there has to be something in place to ensure that the money finally finds its way to the beneficiaries? thanks |
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Here it is in black and white.
Dyletswyddau: 1) Casglu'r ystad (arian neu eiddo) 2) Talu dyledio, costau angladd ayyb 3) Talu'r gweddill i'r sawl sydd a hawl cyfreithion iddo 3) Cadw derbynebau a chofnod o'r hyn rydych chi wedi'i wneud. |
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I thought it said 'executor'. A lack of laughs on here.
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The part of some interest to yourself:
''When you have dealt.. ....you should keep all receipts and records to show the court if there is a disagreement''. |
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diolch yn fawr Ivor,
Nadolig Llawen. |
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Nadolig Llawen i chi :)
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as in a man who cuts people heads off.
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Has he contacted heir hunters yet. They would track them down.
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The Magic Flea 17 Dec 14:22
go back to searching in the bins :^0 |