Taking on the role of an executor and/or trustee is a fiduciary position. This means in accepting the role you agree to carry out your duties in accordance with the law and other fiduciary duties.
It is crucial that when accepting the role you are aware of these duties to ensure that you are not held personally accountable for wrong-doing. Ignorance of the law is not a defence to many actions which may be brought against the unwary executor or trustee.
Seek professional advice – Personal applications may be suitable for those with very straightforward financial situations or with considerable legal experience, but for most people, seeking professional legal advice is the best way of ensuring that an estate is dealt with in accordance with the law.
At Beers we have a qualified team of advisors and we would be happy to help you with either straight-forward advice regarding your appointment, to include details of time limits and applications for relief from inheritance tax. Equally we can take on the full administration of an estate under your instruction and anything in between.
In addition, we offer a free law clinic on the first and third Wednesday of the month however if you are unable to attend this please telephone whereupon we will try to assist you.
To discuss your options in more detail please call the Private Client team at Beers on 01548 857000.