UK Law - Last will and testament?

Question

Would appreciate a professional opinion and ideally someone who is working / au fait with UK law.

My Mother passed away recently leaving her assets to be divided equally between her 3 children.. my brother and sister were made executors of the will as I live in NZ. In brief her assets are essentially a reasonable sum of money and an apartment with no mortgage.

Question: Is it possible to execute the will in 2 parts i.e. aportion the liquid cash equally between the three of us now and then sort out the remaining finance once the apartment has been sold? My sister is getting married in UK ealry next year and I am keen to take my whole family over for the wedding and the money due to me via my Mothers will would make that possible.. again would prefer a legal opinion on this only

Answer 1

Providing all 3 are in agreement you can divide up as and when you wish. assuming the total assets arent more than £230,000 inheritance tax shouldn't be a problem. Check with the local council regarding council tax though. The property needs to be declared as uninhabited and subject to testate.

Answer 2

Yes this is what happened when my father in law died. Once probate was granted we received a share of the liquid assets then we all waited until the house was sold then received our equal shares from that.. Can't see in British law any problem with it. No doubt your family have a solicitor you will help to sort it all out.

Answer 3

Methinks Bardic is a frustrated lawyer.

The executors of the will can distribute the assets of the deceased in any way they think fit which is in accordance with the expressed wishes of the deceased in her will.

The liquid capital can be distributed first (and often is) and then the fixed assets (the flat) can be sold, rented, leased or whatever.  

Legal advice (if the estate is worth any sizable sum) would be obviously beneficial, and a wise move should disputes arise now or in the future.  

Answer 4

If you want proper legal advice, you'll have to obtain it properly from a lawyer. You won't find any on here, especially those who say they are "lawyers".

However, from past experience, yes, it is possible to make an "interim distribution" of assets immediately to hand; I'd strongly suggest your brother and sister have a word with a UK solicitor just to make sure they're doing things correctly.

Answer 5

yes, provided you are all in agreement on this.