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31-07-2014

Claims against lay Executors who have incorrectly administered the estate of a deceased person have more than tripled over the last year according to figures released from the High Court.

With claims ranging from the incorrect distribution of funds to beneficiaries to theft, it is a growing concern that people do not consider appointing solicitors to act in the role of Executor when drawing up their Will.

Many people exclude a professional from acting as a cost cutting exercise. However, appointing a family member or friend who does not deal with the administration of the estate correctly is likely to cost the estate more than if a solicitor had dealt with the administration from the outset. 

An additional worry is that more Executors will fall foul of their duties and responsibilities as we see an increase in personal applications for Grants of Representation. Given that personal liability is attached to the role, an Executor who is uncertain about the tasks which need to be undertaken in dealing with an estate should seek prompt legal advice and assistance.

For those who want to make a Will or wish to reconsider the appointment of an Executor in their current Will should seek professional advice on the options available when considering the appointment.

TESTIMONIALS

Standout firm known for its personal insolvency work for clients including private companies, individuals and governmental institutions. Frequently acts for insolvency practitioners, assisting with the realisation of assets, both in the UK and abroad.

Chambers and Partners

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