Access to money after death

[Monte2014]

Hi all,

I am aware of a situation where a person died 2 years ago and left a Will.

In the Will the sons only surviving parent left a farm jointly to her two sons. She also left the family home and another house on the farm to one of the sons. The other siblings also received a 6 acre field to be shared between them. Both sons are also executors of the Will.

The farm has been rented to the same farmer both before and since the persons death. Both sons have been very slow to organize probate with their Solicitor. In the meantime the Estate Agent has been collecting the rent from the farm.

A few weeks ago they asked the Solicitor if they could receive the proceeds of the rent directly as they need this money to pay some personal bills (nothing to do with paying the deceased bills etc). The amount was circa €5,000. I am aware of situations if money in the bank/building society is in the deceased's name only, then you usually cannot get access to it until probate is taken out. Can you tell me if an Estate Agent is allowed to do this and if this will have any implications when the estate goes into probate?

 

[dereko1969]

Sorry has the Estate Agent been lodging the money in the deceased's account or having it resting in their own account? It's not clear from your post which is the case. If the latter then just ask the EA for the money, if the former presumably the Bank has been notified of the death of the account holder?

 

[Monte2014]

The money has been in his account. Is it legal for the estate agent to do this and for the sons to be receiving this money in such a manner? I would have thought there was a protocol around preserving assets until probate with the exception of using proceeds from the estate to pay for funeral expenses etc.

 

[mathepac]

The executors are obliged to collect the money from the estate agent and to lodge it as part of the estate to be divided up as per the will. They cannot spend this money for their personal use, it's not their money. If necessary the executors can advise their solicitor to write to the estate agent for a cheque to be lodged to their client account, but this will incur fees naturally.