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Cautionary tale for the executor – how deep are your pockets?

November 23, 2016 By Jocelynne Berry

Writing Pen ImageWhen people reach their last days, it’s understandable that they can reflect on life; sometimes write some wishes on some paper.

Significant problems can arise from those extra pieces of paper that are found. Problems can also arise if those papers are not considered very carefully.

In most cases, when you’re an executor of an estate, the legal costs of dealing with the deceased’s wishes are paid out of the estate.

BUT…..If a mistake is made, you can end up paying them yourself.

In a recent case, an executor had an estate to manage where there was a will and another document that gave an additional gift to another beneficiary. The executor asked the Court to confirm that both documents were valid and that they, as executors, should carry out the wishes noted in both documents. Unfortunately, the executors didn’t give enough thought to the second document to satisfy the Court that it was valid and the Court ordered them to pay the costs of that court application themselves personally (and not out of the estate).

To avoid this kind of thing happening to you, it’s really important that you get expert advice about what you should do.

Filed Under: Jocelynne's Thinking Tagged With: costs, duties, estate, Executor, Expert

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