How are debts owed to family members dealt with in divorce proceedings?
The first question for the court to determine is whether the debts are legitimate, and this is a...
Claims against executors have trebled in 12 months, according to a recent article in the Law Society Gazette.
The increase in the number of claims is thought to result from the appointment of friends and family members as executors rather than professional executors such as solicitors.
Data from the Chancery Division of the High Court shows that there were 368 claims lodged for breach of fiduciary duty in 2013, up from 107 on the previous 12 months. The claims range from theft of assets by the executor to fraudulent distribution of assets to favoring certain beneficiaries of the will above others.
There are many reasons for using a professional executor, such as:
- They have experience in dealing with the legal formalities and procedures, which means that they can handle these promptly;
- They have expertise in dealing with the relevant taxation and other requirements;
- They will act objectively in dealing with the beneficiaries;
- They have a detailed knowledge of the law relating to wills and probate and are able to anticipate any issues that may arise; and
- In the unlikely event that something does go wrong, they are covered by professional indemnity insurance to cover any losses.
Where someone has concerns over the way in which an executor is dealing with an estate (where they are a beneficiary, or perhaps where they feel they ought to be), we can advise upon the rights of such individuals, and upon the role and duties of the executor. When things have gone wrong, we can advise you on the available options and can act for you in all manner of disputes. Alternatively, if you are an executor and are threatened with a claim, we can help.
Should you wish to have a free initial telephone consultation in order to discuss your particular matter relating to this area, please call us on 01384 410410 and ask to speak to James Coles or Susan Ford. Alternatively, you can email us your enquiry at contentiousprobate@georgegreen.co.uk providing a brief summary of the issues, along with your contact details, and we will contact you for an initial free telephone consultation.