Once probate has been granted...?
the taxman has been paid, the executor of the will is the only benifactor. There are no out standing debts and no other relatives. The solictors aren't the executors - we involved them as we didn't have a clue about the whole process and thought it would help - now having second thoughts as they want to hold everything for 4-6 months after probate has been granted. What next...
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Me again. The solicitor is acting under the instructions of the executor, who can terminate those instructions at any time (though work done to date has to be paid for if, and only if, the solicitor set out the basis of charging at the outset, in a "client care letter"). If the executor gives the solicitor the sack, any funds held by the solicitor must be handed over forthwith, and if the executor is also the sole beneficiary, .those funds will have gone to the person who would eventually have received them anyway. The executor may also demand that the bulk of the paperwork be handed over - particularly correspondence etc which shows where things are up to, if the estate has not been fully administered.
If a solicitor holds money which would, if put on deposit, have earned more than £20 or so in interest, that interest must be paid over, even if the money has been held on a current account rather than a deposit account.
Should you adopt this course, put things in writing (not e-mails) and keep copies.
Contact the law Society for advice
http://lawsociety.org.uk/
its not a good idea to have your solicitor as executor and as you say you haven't so i would have a word with him and ask what the hold up is because you know there are no o/s debts that's the reason why they want to hang on and if they are adamant get in touch with the Law Society
I am not a legal person and I may be out of date, but the last I knew was that a solicitor could hold onto money for upto 12 months without paying interest, so there is usualy a long delay until they release money.
The solicitor is probably being sensible in waiting to see if any more bills come in. Despite this, I'd discharge the solicitor and ask for the money. This happened to a friend of my Mum's. Time ticked away and nothing happened so she made a point of ringing them once a week to keep them on their toes. Mistake. When the money was finally paid out, there was next to nothing left. The solicitor presented an account listing, amongst other things, a long list of the calls with a significant charge next to each one. Those charges ate into the money.
The six month rule applies in case of bankruptcy. where by if someone disposes of assets and then bankruptcy follows and the monies have been disposed of then the solicitor is liable. But may I suggest you ask the solicitors why and get it in writing as to how long they intend to hold onto the money and why and details of any interest they will be given (because they are holding the money and if it was in a bank account if would acrue interest.) Give them 48 hours to respond and in the absence of any response make a formal complaint to the police.
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