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Probate info

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  • 19-05-2019 11:23am
    #1
    blowin3
    Registered Users Posts: 477 ✭✭


    My Dad died leaving a will which left everything to his 3 children . The will had a property which is now on the market for sale and a large sum of money in bank. Probate has now been granted can money be shared between the family or do you have to wait for sale of the house to finalize everything. The executor is out of the country and cant be contacted at the moment. Thanks for help.

    Mod
    Suggest you enquire with executor's solicitor, but will leave open for discussion subject to forum rule on legal advice


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    #2
    blowin3
    Registered Users Posts: 477 ✭✭blowin3


    Thanks MOD the solicitor will only deal with the executor. Just really want to know can the money (banks deposit) be shared while we wait for the house sale as that could take a while whats the norm in south cases.


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    #3
    Peregrinus
    Registered Users Posts: 26,056 ✭✭✭✭Peregrinus


    It's up to the executor. He may need to keep some cash in hand to settle estate expenses that arise before the house sale goes through. On the other hand, if he is comfortable about paying out at least a part of the cash-in-hand, there's nothing to stop him doing so. The longer the house sale takes, the more pressure there is on the executor to make a partial distribution, and the harder it is to justify not doing so but, really, it all depends on the facts of the case. The solicitor can't and won't make a partial distribution without the executor's express instructions, so no point badgering him - it will only run up costs. If the executor is out of the country and can't be contacted, wait until he gets back.


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    #4
    blowin3
    Registered Users Posts: 477 ✭✭blowin3


    Peregrinus wrote: »
    It's up to the executor. He may need to keep some cash in hand to settle estate expenses that arise before the house sale goes through. On the other hand, if he is comfortable about paying out at least a part of the cash-in-hand, there's nothing to stop him doing so. The longer the house sale takes, the more pressure there is on the executor to make a partial distribution, and the harder it is to justify not doing so but, really, it all depends on the facts of the case. The solicitor can't and won't make a partial distribution without the executor's express instructions, so no point badgering him - it will only run up costs. If the executor is out of the country and can't be contacted, wait until he gets back.

    Thank you so much for the reply.
    I felt that was the way. I will wait for the executor to return. I really appreciate your comment and also tha moderator for leaving the question up.


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    #5
    randomrb
    Registered Users Posts: 351 ✭✭randomrb


    Usually they will wait until everything has been sold and sorted before distributing. You never know what debts might appear that have to be paid by the estate. They generally err on the side of caution and dont distribute too early.


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    #6
    blowin3
    Registered Users Posts: 477 ✭✭blowin3


    randomrb wrote: »
    Usually they will wait until everything has been sold and sorted before distributing. You never know what debts might appear that have to be paid by the estate. They generally err on the side of caution and dont distribute too early.

    Oh ok that puts a different slant on it. I should think that the sale of the property thats free from debts should cover any surprises .


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    #7
    Claw Hammer
    Registered Users Posts: 6,160 ✭✭✭Claw Hammer


    It is also unwise to distribute until 6 months after the grant of probate in case a Section 117 action starts.


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