A bereavement can be a distressing experience. Not everyone wishes to face the legal formalities of administering the estate of a loved one.
Those responsible for administering an estate (e.g. Executors) have significant duties and responsibilities. They assume a personal liability and must account for all actions taken during the estate administration.
Dealing with the assets and liabilities of a deceased person can be time consuming and complicated. Issues such as resolving the deceased personal tax affairs, and those of the estate, must be addressed before monies can be distributed to the beneficiaries of the estate.
An Executor/Administrator is under a duty to maximise the value of the estate for the beneficiaries and must act in a prudent and timely fashion. Failure to do so may give the beneficiaries of the estate grounds to claim compensation from the Executors/Administrators of the estate.
Claims against estates are becoming more common and it falls to the Executors/Administrators to defend or settle any such claim before the estate can be finalised.
For an informal, no obligation discussion to consider your personal requirements please contact a member of the Private Client team.
For more information on how Clough & Willis can help contact Richard Phillips richard.phillips@clough-willis.co.uk, Ciara Hannawin ciara.hannawin@clough-willis.co.uk or Rebecca Green rebecca.green@clough-willis.co.uk
