I think I already know the answer to this, but would appreciate any other views.
I dealt with an estate back in 2014. The were a number of large pecuniary legacies. The deceased’s property was subject to a life interest in favour of the deceased’s husband. Without the property sale proceeds, there were insufficient funds with which to pay the legacies in full. As a consequence, at the time, each legatee received a pro-rata amount of their full entitlement.
The husband has now died and the property sold, so I can pay the balance of the legacies. Presumably the legatees are entitled to interest on the balance of the legacy from the end of the Executors’ year until payment.
Martyn Dixon
Harold Bell Infields & Co