Executor's Duties

[btrobin]

Having just been one of many beneficiaries in a will, which was administered by an absolute idiot I am curious to know whether it would be obligatory for said executor to send some sort of balance sheet to the beneficiaries so as they can see where the funds were appropriated from. This was not administered by anyone with legal qualifications just a friend of the deceased.

[woofgang]

yes. An executor has to keep verifiable records of what the deceased's assets were, how they were distributed and what expenses and so on were paid from the estate. They are PERSONALLY responsible for the just and equitable execution of the testators wishes and can be PERSONALLY sued if they screw up or behave dishonestly.

[woofgang]

I hope that you don't mean "funds were appropriated" as that usually means stolen

[thugulike]

A copy of the will and the Estate Accounts should be sent to all beneficiaries. This enables them to show where the money came from if the bank seeks clarification.

[btrobin]

Probably "appropriated" wasn't the right choice in this context, no suggestion of anything being diverted, but this chap was an absolute nightmare to deal with. Must be one of the most inefficient people ever imaginable, I think we had about four different promises of payment before it was finally achieved, and he made it adequately clear that he wasn't best pleased about sorting things out. Unfortunately if you put your head up above the parapet when this situation is being dealt with, you are immediately deemed to be a money grabber, however I am not so sure he has realised all the assets, so I will ask for a copy of both the will and a balance sheet.

[dzug2]

I'm assuming the beneficiaries were all residuary beneficiaries - ie entitled to a share of whatever was in the estate. They are certainly entitled to a set of accounts

Anyone who received a specific bequest - eg a specific object or sum of money - isn't

[factor-fiction]

An executor is supposed to keep a set a of accounts but I have never known anyone to ask for one. When I have been an executor I've never claimed for any expenses and I've kept a record of all distributed assets and liabilities, but no-one has ever asked. Maybe the estates were so small that non-one thought it worth challenging. Maybe it's good practice always to issue a set of accounts anyway.
To be fair to the executor, he is not a professional administrator- he is just someone chosen by the deceased. He may have had other commitments and could have walked away but chose to see it through as his friend had wished. An executor would be unwise to distribute the estate too quickly- it's usually necessary to wait around 6-9 months to ensure all aspects are picked up

[Peter Pedant]

This has come up before and the answer seems to be to us commoners that beneficiaries of lets say something like a car or two are not allowed to see the full accounts

and residuary beneficiaries are.

[Peter Pedant]

Blimey you havent even got hold of a will....

You can get a copy from your local probate registry once probate has been granted which in this case has obviously occurred.

[Barmaid]

Strangely, there is actually no legal entitlement to see the Will. However, the executor is bound (by virtue of s25 Administration of Estates Act 1925) to "collect, get in and administer" the estate and "deliver up to the Court when required to do so a copy of his accounts". A residuary beneficiary is entitled to see the accounts and can request them via a summons through the Probate Registry if no accounts are forthcoming from the executor.

It is an anomaly that there is no legal entitlement to see the Will, for how can you check the estate has been properly administered without it? In general most executors will supply a copy - but if not, get it from the Probate Registry.