Common Failings of an Executor
There are a number of common failings that executors can fall into which lead to disputes and complicate the process. Problems can arise because not everyone fully understands exactly what they are taking on. In this blog, we have listed three common failings you should be aware of before accepting the appointment of executor.
Not Respecting The Law
Being an executor requires thoughtful work and is a serious obligation with potential personal liabilities.
Ideally, an executor should distribute the estate as soon as reasonably possible after the deceased has died and should not benefit themselves or their family in any way whilst acting as an executor. Also, executors should make sure the estate is protected if someone tries to make a claim.
When acting as an executor, you should respect the law and remember that being an executor requires much more work than is thought.
Handling Beneficiaries Incorrectly
Disputes can develop due to a breakdown in communication, misunderstanding and lack of sensitivity. It is vital that executors strike the right balance between being assertive and compassionate during a stressful time. Not striking the right tone can create problems.
Sometimes executors are too slow in distributing a deceased estate and, if he/she is not making progress, an executor can get criticised. If you have been appointed as an Executor, it is crucial that you carefully consider whether you have the time to take on this role.
Contact our Executry (Probate) Solicitors Glasgow, Scotland
Wilson & Fish are expert executry lawyers and can provide legal advice to clients throughout Scotland including Ayrshire, Falkirk, Edinburgh, Aberdeen, Dundee, Paisley, East Kilbride and Stirling. If you are concerned about inheritance tax or any other exectury matter, contact us today at 0141 222 7951 or complete our online enquiry form.