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We occasionally have executors call into our offices to collect the Will of a recently deceased client stating that they have been through the process before; therefore they are more than able to administer the estate without the need of legal assistance.
Claims for mishandling a deceased’s estate have more than tripled over recent years, according to figures released by the High Court.
Claims ranged from breach of fiduciary duty, theft of assets by the executor to fraudulent distribution of assets to favour certain beneficiaries of the will above others.
Using a friend or acquaintance can be a ‘false economy’.
Many follow this path in an attempt to save money but find it costs more than they bargained for when they have to use the courts to recover assets after a mistake or even theft.
The amount of money at stake can tempt some ‘amateur executors’ to raid the estate for their own benefit especially with the rise in house prices.
Misinterpretation of a will can also arise either innocently or on occasion purposely to favour one beneficiary over another.
Many believe the task to be a simple one. There will always be executors who can do the job well but there will always be those who either do the job badly or fraudulently.
We offer an excellent service in providing assistance to Executors either for part of the process or the whole belt and braces process from start to final distribution.
If you would like to speak to someone regarding this article, please contact Elizabeth McEvilly at our Newport office, alternatively a member of our Wills and Probate department at any of our other offices.
Need advice? Email us firstname.lastname@example.org