Interest on pecuniary legacies to executors

Interest on pecuniary legacies to executors

Author: Martyn Frost (1997)

Interest on Pecuniary Legacies to Executors

Martyn Frost FCIB, TEP, Trustee Manager, Barclays Bank Trust Company Limited
and Chairman of the Association’s Private Trusts Committee
(taken from Issue No 2 – February 1997)

There have been some doubts expressed as to the correct period for which interest is payable on executors’ legacies. Is it simply from one year after death until payment, or is it more closely tied to the concept of compensating the executor for his time and effort and therefore to be linked to when he started his work on the estate?

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The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind

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