29/08/2014
According to an article recently published by the Law Society Gazette claims for mishandling estates have more than tripled over the past year. Figures released by the High Court. Data from the Chancery Division shows 368 claims were lodged for breach of fiduciary duty in 2013, up from 107 in the previous 12 months. The claims range from theft of assets by the executor to fraudulent distribution of assets to favour certain beneficiaries of a Will.
Richard Roberts who is the Chairman of the Law Society's Wills and Equity Committee said the risk of mismanagement increases as more people take out probate themselves. "Many wrongly perceive the task to be simpler than it is" he said. "There will always be lay executors who can do the job well and are perfectly trustworthy, but there will always be groups of executors who either administer an estate badly through ignorance or administer it fraudulently".
Please contact Helen at our office if you have any queries in relation to a probate matter.
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