What are trusts? The broad purpose of a trust is simple: to help families control how assets such as cash, investments or property are more…
Claims against DIY Executors triple in 2013
The High Court has released disturbing figures which highlight the huge increase in claims for mishandling a deceased’s estate.
Information provided by the Chancery Division, states that a staggering 368 claims were lodged for breach of fiduciary duty compared with just 107 claims in 2012. These claims range from the fraudulent distribution and in some cases, theft of assets to favouring certain beneficiaries above others.
It’s a worrying trend which has been brought about by families utilising the services of a DIY Executor rather than seeking professional help. Although instructing a solicitor obviously incurs a cost, it ensures that a Will is executed as the deceased person wanted, adhering to the law and making sure there is no fraud or misunderstanding between beneficiaries.
The vast majority of lay people who take on Executor role, do it with the best intentions. They want to make sure the wishes of a loved one are administered properly and with integrity, even though it can sometimes be challenging and complex.
However, there are some who are unfortunately, not in a position to either take on this responsibility or in fact want to use it to fraudulently take advantage of their position.
In any case, seeking the proper legal advice and support should be paramount. By using a solicitor there’s little room for error or fraud. They understand the process, the legal requirements and the need to ensure the matter is dealt with as effectively and efficiently as possible.
So, to avoid issues or further upset, which really is the last thing that any beneficiaries would want, its best to speak to the experts and know the estate is in safe hands.
If you need to advice or support on writing a Will or professional advice about dealing with the affairs of someone who has died, you can speak to our Will and probate solicitors in Bristol.
Call us on 0117 325 2929 or complete our online enquiry form.