Shelly Wainwright of Ansons Solicitors wills and probate team in Cannock, Staffordshire, explains: “This is not true.”
In order for executors to fulfil their duties correctly, legacies should be paid as soon as possible. Executors do have the benefit of an ‘executor’s year’. This gives them one year after the date of death to pay legacies, before interest becomes due. However it is important that the estate is dealt with properly and that all liabilities of the estate are paid before any distributions are made.
The executors should make every effort to execute the terms of the will in a timely manner. It is also a good idea for them to liaise with the beneficiaries and keep them up to date with progress.
For further, please contact Shelly Wainwright in the wills and probate team, on 01543 267984 or email firstname.lastname@example.org. Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.