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Does the Executor of a Will need approval of the estate accounts by all beneficiaries before paying the shares?
Does the Executor of a Will need approval of the estate accounts by all beneficiaries before paying the shares? If one beneficiary contests the value of the estate, can the others be paid?
The Executor usually requires all the beneficiaries to approve the estate accounts before any distributions are made. This is so that any errors or queries can be identified before distributing the estate, otherwise the Executor may find themselves having to reclaim the beneficiaries' money which obviously would be difficult.
If one of the beneficiaries is querying the estate's value then the Executor would be wise to delay making a distribution for the reasons outlined above. However, they may consider it possible to make a small interim payment if all the beneficiaries agree.
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