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How long for a will to be read

larrymiller

Well folks just wondering how long one would have to wait after a person dies for a will to be read.
Thanks

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Pat Mustard

It's not done any more really.

If you are a beneficiary, you can ask the executor for a copy of the Will.

larrymiller

The Mustard wrote: »

It's not done any more really.

If you are a beneficiary, you can ask the executor for a copy of the Will.

So it shouldn't take to long after contact with the soliciter?

Pat Mustard

larrymiller wrote: »

So it shouldn't take to long after contact with the soliciter?

For client confidentiality reasons, the solicitor is not allowed to disclose details to people other than the executor. The executor has to instruct the solicitor to send a copy of the Will.

However, if you make contact and explain your situation, the solicitor can ask the executor if a copy can be sent to you.

If the Will has been located and if the executor is agreeable, it shouldn't take long to send a copy of the Will.

larrymiller

The Mustard wrote: »

For client confidentiality reasons, the solicitor is not allowed to disclose details to people other than the executor. The executor has to instruct the solicitor to send a copy of the Will.

However, if you make contact and explain your situation, the solicitor can ask the executor if a copy can be sent to you.

If the Will has been located and if the executor is agreeable, it shouldn't take long to send a copy of the Will.

And could the executer be anyone? I'm sorry I'm not up to date with this sort of thing(thank god)

Santa Cruz

larrymiller wrote: »

And could the executer be anyone? I'm sorry I'm not up to date with this sort of thing(thank god)

There is no obligation to have a family member as executor. However for very practical reasons an executor must be reasonably close to the person making the will, be aware that he has been appointed executor (there can be more than one appointed) and be such that he would be informed by family that the person has died. On hearing this news he should contact the solicitor to see if there are any particular arrangements mentioned in the will re the burial to start with.

Once that is taken care of the executor or in real terms the solicitor acting on his behalf will make enquiries to establish the value of the estate.
Following Probate and once all debts owed are paid the balance of the estate will be divided as per the wishes of the deceased as expressed in the will. Beneficiairies will be given a copy of the will usually (In any case it becomes a public document)

Pat Mustard

larrymiller wrote: »

And could the executer be anyone?

Short answer; yes.

The executor is the person who is named as executor in the Will.

You should make contact with the solicitor who has the Will.

larrymiller

Hi again.
Just wondering if the executer has any responsibilty money wise? This is my situation.
My grandmother passed away.
My father is executer.
His sister has received the house in the will.
She is very poor and not very well and I'm guessing that she will not be able to pay any fees that may arise, the house is not one that she could sell.
What's going to happen?
Does anything get landed on the executer.?

Thoie

The solicitor dealing with the will would be best placed to answer those questions, but as far as I'm aware, the executor has no responsibility for paying any inheritance taxes due by people.

I'm puzzled by the fact that she can't sell the house.

If it's because she's not mentally/physically capable of it, then someone could act for her (that's more solicitor territory).

If it's because it's her home, and she's been living there for a long while, then it may be exempt (take a look at dwelling house exemptions here: http://www.citizensinformation.ie/en/money_and_tax/tax/capital_taxes/capital_acquisitions_tax.html#lfdcc4)

If it's because she thinks it's worth more than people will pay, then that's a bit messed up. The CAT is usually based on a percentage of the value. If the house sells for €50k or €100k or €800k, the CAT will still be a percentage, and therefore the sale will cover it.

Another option would be to try take out a mortgage on the property for the cost of the CAT, but again that would need to be carefully discussed with a solicitor, if the banks would even go for the idea.

larrymiller

It's a farm house, in the middle of our farm down a long private lane, selling it isn't N option, house is not in good condition, very cold and damp!
Also night ad that she lives in wales, I know that no one would lend her the money as she hasn't a penny,
I would guess that the house isn't worth north of 50 k

Thoie

She really needs to talk to a solicitor to figure out her next steps. Very very roughly on a house worth €50k, the inheritance tax due from a grandchild would be about (50k-30k)x33% = under €7k, so even if she sold it to someone for €50k, it would give her a bit of a nest egg.

A solicitor could advise her of all her various options, and the implications of each one.

larrymiller

Thoie wrote: »

She really needs to talk to a solicitor to figure out her next steps. Very very roughly on a house worth €50k, the inheritance tax due from a grandchild would be about (50k-30k)x33% = under €7k, so even if she sold it to someone for €50k, it would give her a bit of a nest egg.

A solicitor could advise her of all her various options, and the implications of each one.

It's going from mother to daughter,
We will be hearing from the solicitor soon, just trying to get some info while waiting

Thoie

larrymiller wrote: »

It's going from mother to daughter,
We will be hearing from the solicitor soon, just trying to get some info while waiting

This is why you don't trust people on the internet - I decided it was your sister, as opposed to your aunt

I don't know what being based in Wales will do to the inheritance, but if she was based in Ireland, and the house is only worth about €50k, then it would fall under the threshold for mother-daughter inheritance tax. At some stage a valuation will be needed. I got one done about 5 years ago and it cost €120 at the time, so it shouldn't be a huge amount more than that - maybe €200 tops.

larrymiller

Ok thanks,
So if there will be no inheritance tax and I mean IF, what sort of solicitor fees would we be talking about?

Thoie

Honestly I've no real idea. When I bought my place (which was a fairly straightforward purchase) it cost under €2k.

Some solicitors have a kind of flat fee, others go by percentage of the sale, so she should shop around. I've never actually thought about who pays for the conveyancing on an inheritance.

Here's an Irish solicitor's website which has a breakdown on some of the costs. I have no idea who the solicitor is, or any connection with her, the page is just handy to give an outline of the kind of costs involved.

http://www.cmcsolicitor.ie/wordpress/property/conveyancing-costs/

Munstermissy

Rather than start a separate thread, have a similar question.

If you are named as a beneficiary, are you entitled to see a full copy of the will? Or just the part that you are mentioned in?

GusherING

No you're not entitled to see the Will immediately after the death. That's the executor's call to make.

However once the will has been through the Probate Office, it is a public document and a copy of the can be ordered through it.

However it may take some time for the latter to be filed in the Probate Office depending on the complexity of the estate, the assets involved etc.

larrymiller

So we have set up a meeting with the solicitor for next week.
We still don't understand burden of being named executer of the will. Solicitor will clear this up.
I believe that the executer is responsible for the house until it's put in the person who's receiving the house's name, but I've a feeling that the executer is financially responsible for the charges involved in all of this? Am I right?