Beneficiaries

The recipients of the estate after the debts, taxes and funeral expenses have been paid are called ‘Beneficiaries’. These can be people, charities, political parties, clubs, associations, trusts and any other legally recognised body. Pets and other animals are sometimes left money in a Will, but usually a person or corporate body looks after them using the money provided for the animal’s benefit.

The rights of Beneficiaries are limited until Probate has been granted. They do not have a right to see the Will for instance, or to be made privy to the decisions of the Personal Representatives, or even to be informed that they are Beneficiaries.

However, once the Grant of Representation has been made, the Personal Representatives are accountable to them for the proper administration and distribution of the estate and to facilitate this they would be entitled to see the Will and be provided with a set of Estate Accounts if they wanted to check what money and assets came in and where they went.

If they do not think that the estate has been properly administered, that the Personal Representatives have been negligent or worse, dishonest, then they can sue them though the Chancery Division of the High Court for damages reflecting the losses caused by the Personal Representatives.

The High Court is also the final arbiter of any disagreements between any of the parties interested in the estate that cannot be settled by agreement; from disputes between Trustees, Executors and Beneficiaries to unpaid creditors, disinherited children and secretly-maintained, impecunious lovers.

The above article was written by Paul Handford RWFC

If you have you have any questions or queries regarding the above article please e-mail Paul Handford.

Also see:

Executors
Choosing an Executors
Refusing to be and executor
Personal representativies
Probate Glossary (terms used)

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