No smilies, no avatars, no flashing gifs. Just discuss the issues of the day, from last night's telly via football to science or philosophy.
Started by carterbrandon on Dec 5, 2019 9:16:21 AM
Is this going to cause trouble?

About 3 months ago, when my FiL was very ill in hospital and his boiler broke, MrsB just paid a couple of grand for a new one. He never came out of hospital. Then her brother who is doing most of the probate stuff, and selling his house (he lives the nearest to it of the kids), has found thousands in cash in the house. At the funeral tomorrow, he intends to hand £2K to her from it for the boiler. I worry that paying that into a bank will get flagged up as dodgy, and (since the will is not yet enacted) actually *is* dodgy? Am I right?

Previous
|
Next
|
Top
|
Bottom
airynothing - 05 Dec 2019 09:30:40 (#1 of 10)

It’s just paying off his debts. As long as she has a receipt for the boiler, it should be fine.

Heckler - 05 Dec 2019 09:30:56 (#2 of 10)

<not a professional opinion>

Probate is all about paying off debts and distributing the remaining money according to the will, all assets including cash form part of that estate and part of that process. Unless it's seen as a 'debt' to be satisfied it sounds incredibly dodgy.

TRaney - 05 Dec 2019 09:33:15 (#3 of 10)

You might want to google the bank's trigger amounts for AML investigation. I think 2,000 is too low to care. Even if it is, I don't think it's the bank's business how you execute the will, they are checking for other things.

bossab2 - 05 Dec 2019 09:38:10 (#4 of 10)

Don't pay it into a bank if you are worried about it.

Stick it under the mattress and spend it on general living costs.

You can wait a long time to wills to be sorted.

solomongursky - 05 Dec 2019 09:42:36 (#5 of 10)

Buy 80% pure cocaine with the £2000 and add 40% milk substitute, with the rolling profits and extended influence buy corrupt police officers and political protection.

thePiMan - 05 Dec 2019 09:44:21 (#6 of 10)

Banks are only interested in £5k plus deposits.

Heckler - 05 Dec 2019 09:49:42 (#7 of 10)

As long as she has a receipt for the boiler, it should be fine.



But presumably there must also be a process in probate to withdraw funds to pay a debt, chucking someone a bung at the funeral can't be right?

darkhorse - 05 Dec 2019 09:57:55 (#8 of 10)

If it causes trouble it would be for your brother in law, not you. Technically he should include the asset and debt in the estate accounts. But if he left it out, who would kick up a fuss?

Unless one of the other beneficiaries gets wind of it and it causes a BIG FAMILY FEUD. In theory, the estate or beneficiary could sue for the money back, if they claimed it was a fabricated debt, but does that seem likely?

FrankieTeardrop - 05 Dec 2019 09:59:40 (#9 of 10)

darkhorse has it right - if everyone knows about it, and is happy with it, from where would a problem arise?

solomongursky - 05 Dec 2019 10:00:59 (#10 of 10)

Since the boiler forms part of the house maybe it would be more proper if the money came from the sale. Maybe the bil doesn't want to make it formal.

Previous
|
Next
|
Top
|
Bottom
Check Subscriptions
|
Home » Money