As discussed in our article: 'Should I agree to be an Executor?', although being appointed can be seen as a great honour, it also comes with significant obligations.
It is often underestimated how much work and responsibility is involved in the administration of an estate. What may be considered a "simple" estate can involve significant work including, but not limited to, calling in assets, obtaining Grant of Probate, contacting beneficiaries and preparing accounts.
Each estate is different and the complexities which Executors will face differ depending on the assets involved, jurisdictional complications and the beneficiaries entitled.
An Executor may find themselves involved in litigation surrounding the estate which may include the following types of claims:
- Challenges to the validity of the Will itself;
- A claim under the Inheritance (Provision for Family and Dependants) Act 1975;
- Requests for information – an Executor will need to be sure of what information can and cannot be provided;
- Applications for removal of an Executor.
The above are examples of potential predicaments which Executors may find themselves in. DQ's private client team has experience in advising clients on all aspects of contentious and non-contentious executor appointments.
If you would like further information on this subject please contact any member of our private client team.
Originally published 31 July, 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.