Two Beneficiaries. One will get house, the other gets a cash account

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Stoney

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Two beneficiaries in a will of less than £250,000 value. One will get the house valued at £150,000 the other gets an account with the remainder in cash.
How will costs and charges to the estate be paid? Does the one with the cash pay it all? Or is it shared equally so the house beneficiary would have to pay in 50% of the dues?
Any guidance appreciated
 
I'd imagine you'll both share the expense. In any case i'm thinking the estate is going through probate with a solicitor, so he/she will probably take their fee from what's there and both of you will inherit what you've been left on a %'age basis or share it. What do you think yourself?
 
I think what may happen is the solicitors fee, probate costs and funeral expenses will be taken from the cash account and the person who receives the house will not have to pay towards the costs which I feel is unfair to the person with the cash.
 
Stoney said:
... which I feel is unfair to the person with the cash.
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... unless that was the intention of the testator. A will often has a clause that says funerary expenses, debts and cost of probate are to be paid from the estate first. I wonder was that the case here.
 
dub_nerd said:
... unless that was the intention of the testator. A will often has a clause that says funerary expenses, debts and cost of probate are to be paid from the estate first. I wonder was that the case here.
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Correct.
Has the property been independently valued?
 
Thanks for the reply
Not yet, but that is not really relevant to the question. One beneficiary left a house, the other left the cash account. My logic tells me that the house beneficiary will not be contributing to the estate costs (which would total approx. £5,000) It just seems unfair that the cash account beneficiary will have to pay the full estate cost. In my view it should be shared, but I am probably wrong.
 
Was one left the house with contents and the other the residue of the estate or did the will state otherwise and maybe include that funeral expenses, etc, would be paid for? Unless you're one of the actual beneficiaries I suspect you may be telling us what you've been told and not exactly what was written in the will. Certain words can make a huge difference in a written will and its execution.
 
Stoney said:
Thanks for the reply
Not yet, but that is not really relevant to the question. One beneficiary left a house, the other left the cash account. My logic tells me that the house beneficiary will not be contributing to the estate costs (which would total approx. £5,000) It just seems unfair that the cash account beneficiary will have to pay the full estate cost. In my view it should be shared, but I am probably wrong.
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It is relevant unless the will specifically states "the house" rather than "the house valued 150,000"
Normally the will states that taxes etc are settled before there is a divvy up.
 
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