How to deal with an estate as an executor during the coronavirus pandemic

Adjusting to the challenges caused by coronavirus has been difficult for all of us. However, for those dealing with the death of a loved one, the onerous obligations placed on executors may seem overwhelming. In recent years there has been an increase in the number of claims brought against executors by beneficiaries. Coupled with increased financial hardship as a result of the coronavirus pandemic, it is vital that executors understand their duties and obligations to avoid claims. In this article we set out what is required of executors, and how…

Soaring fees set deadline for executors and estate planning

Controversial court fees which have been branded a stealth tax on bereaved families are expected to prompt a surge in probate applications before the hike hits. The new banded fee structure will see the cost of probate soar by thousands of pounds for higher value estates. The current flat fee is £215 for a personal application for probate, or £155 when handled through a solicitor, but this is to be replaced by a tiered set of fees. While the fees have been reined in from the original proposal last year,…

Powers and Duties of Executors and Trustees

Unless the powers of executors and trustees are extended or varied by the will, the powers are limited to those given by statute. The main statutory powers are set out here under: Section 3 of the Trustee Act 2000 (the Act) gives a general power to invest in anything other than land. Section 4(1) provides that when exercising any power of investment trustees must take into account the statutory investment criteria which are: The suitability to the trust of investments of the type proposed and of that particular investment as…

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