Paying the Beneficiaries

You're on the home straight now! You've paid off the debts in full and now it's time to distribute the deceased's estate. You distribute the estate according to the terms of the will or, if there's no will, under the law of intestacy. Whatever scenario you're working under, the basics of paying the beneficiaries are the same:

Paying the BeneficiariesPersonal property. You can physically hand these over to the beneficiaries or simply arrange for the beneficiaries to collect the property.

Paying the BeneficiariesCash gifts. You should already have the money from bank and building society accounts paid into the executor's account. To fulfil a cash gift, simply give the beneficiary a cheque drawn from this account.

Paying the Beneficiaries

As you distribute each gift to the beneficiary, ask them to sign a receipt clearly describing the gift and its value. Keep one copy and give another copy to the beneficiary. The beneficiary may need this receipt when filling out their tax return, for example.

Transferring shares and property, and fulfilling gifts to children require a little more work, as I explain below.

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