A substantial amount of money was left by my wifes cousin to my wife & I it was tied up in shares & savings accounts I sorted out all the companies involved and gave a list of these along with all comunications to the solicitor I also wrote to the companies concerned imfoming them of my wifes cousins death & gave details of the solicitor to contact that was in June 2006. In this time the solicitor has been in contact with the companies involved. I know at one time they were holding in excess of £100,000 and they have held other large amounts for long periods & whenever I contacted them for the release of some of this money they seemed reluctant to send it through to me. they never at any time offered any hand over of the money So the question arises should I be entitled to the interest that has obiously accrued during this period. incidently they are still holding over £23,000.
Many thanks
2007-01-22 21:52:58 · 4 answers · asked by Dennis B 1 in Business & Finance ➔ Personal Finance
Has probate been granted yet. If it hasn't that may be the reason they haven't given it to you. Also It all depends whether the cousins left you a percentage of the estate or a specific amount. If it is a specific amount, you will only get that amount.
Money from probate goes into a separate account and doesn't earn Interest.
2007-01-22 22:09:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You do not say where you live and different areas/states/countries are subject to different laws. In my native England solicitors are required to hold all client's funds in a separate account reserved for this purpose only. Your first action should be to send, by registered mail, a letter requesting full payment of all funds relating to your legacy which are outstanding to you within 14 days of the date of your letter, failing full payment a statement of account indicating the exact amount involved and the reasons for their failure to make payment. If this does not bring a satisfactory result within the time you indicated you should take the matter to The Law Society in England or your state Bar Association in the States requesting that they look into the matter for you.
Dealing with lawyers can be a long and frustrating process as they are trained masters of deviousness and procrastination but don't give up. Good luck.
P.S. I have just woken up and seen the pounds sign in front of the figures so you must be in the U.K. - sorry.
2007-01-23 06:19:27 · answer #2 · answered by U.K.Export 6 · 0⤊ 0⤋
Yes, i think you are entitled to interest. Can you check in the business bumph that they sent you to see if they state it? I got interest when the capital of my divorce settlement was held at the solicitors. It may be an idea to get another solicitor involved to see what you are entitled to. I know it seems a bit of a chore but it is a lot of money you are talking about.
2007-01-23 06:02:00 · answer #3 · answered by JJ88 4 · 0⤊ 0⤋
Definitely. This money is a constructive trust and the law of equtiy says any benefits from this money including interest have to go to you as the beneficiary
2007-01-23 05:59:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋