I am looking for some advice regarding the exchange rate that should be applied to an overseas beneficiary when monies (inheritance) are transferred to them.
I am involved in an Estate that has not been administered in a timely manner due to the executors not agreeing with each other. A solicitor has been appointed now to administer the Estate and now, nearly 4 years later is ready to distribute some of the monies.
Some of the beneficiaries do not reside in Australia and due to the delay these beneficiaries will receive less now than they would have done at the time of death due to the difference in the exchange rate.
Do these beneficiaries have any recourse in relation to this and should the exchange rate applies be at the date of death or the date of payment?
All help and advice gratefully received
I am involved in an Estate that has not been administered in a timely manner due to the executors not agreeing with each other. A solicitor has been appointed now to administer the Estate and now, nearly 4 years later is ready to distribute some of the monies.
Some of the beneficiaries do not reside in Australia and due to the delay these beneficiaries will receive less now than they would have done at the time of death due to the difference in the exchange rate.
Do these beneficiaries have any recourse in relation to this and should the exchange rate applies be at the date of death or the date of payment?
All help and advice gratefully received