Claims against dishonest executors have trebled in 12 months, according to the Law 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. 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 etc. 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;
- In the unlikely event that something does go wrong, they are covered by professional indemnity insurance to cover any losses; and
- They will act professional throughout as they are not personally involved.
Contact our Private Client team if you would like advice on your will and executorship arrangements.