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Is this OK???

  • 15-08-2016 2:22pm
    #1
    Public2015
    Registered Users, Registered Users 2 Posts: 33 ✭


    Hi, I'm trying to figure out if there is anything actually wrong with this scenario - my first reaction is to say it looks OK, but I'd love to hear others' thoughts on this scenario:

    Executor of an Estate has got a Grant of Probate and now wants to borrow money from the Estate. There are only two beneficiaries. There is one specific beneficiary (who is not the Executor) and one residuary beneficiary (the Executor).

    The Executor wants to borrow from the Estate. As Executor he is consenting. He is also the sole residuary beneficiary and consents in that capacity also. The full entitlement of the only other beneficiary is ring fenced separately in the Estate's solicitors' client account and so is not at risk.

    The Executor borrows the money and then pays it back to the Estate in full. The Estate ends up in the same position it started in (plus some interest earned from the Executor).

    Has the Executor done anything wrong?


Comments

  • #2
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    /Mod//
    Probate law can be difficult.
    Solicitor time
    Thread closed


This discussion has been closed.
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