Wills and solicitor withholding assets

[Baffling]

Its not, it's the liability of the estate and the responsibility of the relevant accountable person named on the application when the application was submitted to ensure it is repaid. The relevant accountable person is only liable in the event of fraud or where the relevant accountable person distributes the assets without the permission of the HSE.

Assuming you are the relevant accountable person, it is your responsibility to ensure that the estate, via the executor, (and yes, I know this is yourself also) repays the loan via the estate.

The estate and the beneficiaries are not the same thing.

I am aware of all you say. However, the beneficiaries funds for the sale of land will entry the estate and in that since they may be made liable as they will not have access to the funds until they pay their contribution. Solicitor's advise. My point is still that if the debts are paid( all of them) why can't access be given to the the funds remaining taking into account or withholding whatever fees may be due to the solicitor? I am also the accountable person. Accountable person, executor and beneficiary.

 

[Bluefin]

As per your user name the whole thing is baffling

 

[Clamball]

I am aware of all you say. However, the beneficiaries funds for the sale of land will entry the estate and in that since they may be made liable as they will not have access to the funds until they pay their contribution. Solicitor's advise. My point is still that if the debts are paid( all of them) why can't access be given to the the funds remaining taking into account or withholding whatever fees may be due to the solicitor? I am also the accountable person. Accountable person, executor and beneficiary.

The lands are the property of the estate and you as executor sold some land. You never owned the land, it was never in your name. As executor you sold some of the assets of the estate to pay debts.

Why you asked two other people to sell other assets is just baffling. You probably cost the estate money with three EA fees etc., you are responsible for getting best value for money as executor.

As you never owned the land you should not have paid revenue any tax, did you declare to revenue that you were the owner? You will probably have to pay inheritance tax on any cash you get from the estate if it is over the limit.

I am not surprised your solicitor will not pay out any cash until all the assets are gathered. Given how muddled you seem to be over your role as executor, or beneficiary I think the solicitor will need to do a lot of independent checking of facts.

It appears you are close to the end of the proceedings so hang in there, it will all be sorted soon.

 

[rustbucket]

The beneficiaries should have received nothing (assets or cash) until probate was finalized and All debts/loans etc then get paid out of estate.

If not enough funds in estate the land gets sold to pay the debts. Residual funds left over then gets distributed to beneficiaries (after fees)

Is that not how it works?

Anything else seems odd

 

[DannyBoyD]

See post #8 ref: pigs breakfast

 

[thedaddyman]

I am aware of all you say. However, the beneficiaries funds for the sale of land will entry the estate and in that since they may be made liable as they will not have access to the funds until they pay their contribution. Solicitor's advise. My point is still that if the debts are paid( all of them) why can't access be given to the the funds remaining taking into account or withholding whatever fees may be due to the solicitor? I am also the accountable person. Accountable person, executor and beneficiary.

The beneficiaries can't sell the land until probate has been granted. Has that happened? That's the starting point here.

Secondly, has a tax clearance cert been provided by Revenue (not what your accountant says, that's irrelevant), Until that is provided no solicitor worth his salt will release funds.

Note if probate has been granted and the land transferred to the other beneficiaries, then how will you restrict access to the funds, they own the land and the funds will go into their bank account.

If probate has not been granted, how are they (or you) able to sell the land.?