The perils of using lay executors
According to figures released by the High Court the number of claims for mishandling the administration of an estate has tripled over the past year.
Although many lay executors are honest and capable this is not always the case. Claims have included the theft of assets or the fraudulent distribution of assets to the wrong beneficiaries.
The use of a friend or family member to administer an estate may an attractive option to minimise legal costs but can be a false economy. Having to use the courts to recover assets is extremely costly and could be avoided by instructing a solicitor to administer the estate.
For more information please see out page on administration of estates.
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