Make sure your estate is in safe hands
The solicitors dealing with the estate of the late David Bowie have appealed for any unknown children to come forward as they try to determine how his estate is to be distributed.
A notice has been placed in The Times newspaper giving beneficiaries of the estate a deadline of 4th May 2017 by which to come forward to make a claim for a share of David Bowie’s £100 million fortune under his last Will.
In administering an estate, executors should try to determine the identity of anyone who might have a claim for a legacy under a Will and give an opportunity for creditors of an estate to come forward.
Executors should take care to ensure that they have made reasonable attempts to ascertain the extent of the estate to be collected in, identify any sums which might need to be paid from the estate such as funeral costs and overpayments of pension funds, and also determine the identity of those who will benefit from the legacies under the Will.
If executors don’t comply with their duties, even unintentionally, they can be at risk of litigation and could be found to be personally liable to make payments from their own funds.
If you have concerns about the way in which an executor is dealing with an estate or you are an executor who has been notified of a dispute surrounding the administration of the estate you are dealing with, it is important that you take professional advice as quickly as possible.
Here at Napthens we have a team dedicated to this specialist legal field. Contact us now to discuss your situation and find out how we can assist.
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- To avoid disputes, choose Executors of your Will wisely - October 28th 2015
- Contestation warning on DIY wills - May 21st 2015
- Is a Will valid? - March 4th 2015