Why hire a solicitor when you could handle things yourself? It’s a question many of our clients ask. While it might seem straightforward, managing the execution of a will can be complex. This is where legal expertise truly shines, ensuring everything is done correctly and that the best possible outcomes are achieved.
Uncovering an Error
Take, for example, Danielle Williams from our Wills and Probate department. She recently handled a probate matter for the late Mr. A. As part of administering his estate, Danielle discovered that the pension company’s calculation of spousal benefits for Mrs. A was incorrect. Leveraging her extensive experience, Danielle challenged the calculation, and after months of negotiation she secured a much larger amount for the estate. Had the original calculation been accepted, Mrs. A would have received far less.
Unclaimed Assets
This situation highlights a common issue in estate administration. Executors often miss out on the full entitlements due to the estate, leaving significant assets unclaimed. Currently, lost and dormant entitlements in the UK amount to around £66.6 million, which will eventually revert to the Crown if not claimed.
Being an Executor is no small task, and it carries significant responsibilities. Executors can be held personally liable for any financial losses to the estate caused by mistakes or oversights. That’s why it’s crucial for Executors who are unsure of their duties to seek professional guidance to ensure everything is handled correctly.
We Can Help
If you’d like to discuss a probate matter or get your own affairs in order with a will or Lasting Power of Attorney, contact us on 01244 312306.
