I would be interested to hear your views on the following:-
I am dealing with an estate (Grant of Probate recently issued) where the Executors have been notified of a civil claim against the estate. The cause of action was pre-death. The value of the claim will not be known for a few more months. Once confirmed, the claim will become a date of death liability of the estate.
Whilst they are waiting for the claim amount to be confirmed, can the Executors use the estate funds to pay any of the other (already known) date of death liabilities? Or do they have to wait until the claim amount is known (as this may be so high that it may not only wipe out all legacies but also reduce the funds available to pay the date of death liabilities)? In other words, the currently presumed solvent estate may become an insolvent estate, depending on the claim amount.