There is always the temptation in life to try and save money but equally, there is the well known saying, “you get what you pay for”.
Many people think that it is fairly straightforward to administer the estate of someone who has died and that in doing so themselves they can save money. Closing bank accounts, settling debts and then paying out the money to the people named in the will may not seem difficult but there is a lot more to it than that. In 2013 there was an increase of over 300% in claims for mishandling estates compared to the previous year. Sometimes the claims come about due to the DIY executors’ ignorance of the law but on other occasions there have been fraudulent distributions of assets and thefts from the estates. Lay executors may even deliberately misinterpret the provisions in the will - particularly where it is complicated or there is a complex family - because they wish to control who gets what.
Whilst it may seem attractive to avoid the costs of instructing a solicitor to administer an estate, this can be a false economy when your family and friends then have to use the Court process to recover assets which a lay executor has mistakenly or fraudulently distributed to the wrong person.
If you have concerns about the administration of the estate of a family member or friend and want to know whether there is any action that you can take then please do not hesitate to contact Mrs Emma Northover on 01404 548050 or by email to email@example.com