Disputes over wills have tripled in the past year, partly due to the rise of “DIY” executors and trustees.
There were 368 legal claims against executors in 2013, compared to 107 in the previous year, according to High Court figures. Claims included theft of assets, fraudulent distribution of assets and favouring certain beneficiaries above others.
Law firm Hugh James, which obtained the figures, said the use of family members as “DIY” executors was becoming more common but carried substantial problems. It said executors can be held responsible for errors made in the distribution of assets, can face legal claims from beneficiaries and can be forced to compensate the beneficiary out of their own pocket.
The increase in house prices means there is more at stake, increasing the temptation for dishonest executors. Lay executors have also been caught out purposely misinterpreting the will in order to favour a particular beneficiary.
Matthew Evans, partner at Hugh James, says: “Amateur executors may not want the money of the deceased to go outside of their immediate family and so take matters in their own hands distributing the assets as they see fit, even if that means they are acting contrary to their responsibilities as a legal executor.
“Ignorance of the law can be a stumbling block for lay executors. Mistakes can be made due to inexperience, such as delaying the sale of assets, which can cause a decline in value. In other cases, it’s not just ignorance of the law, but greed that is the problem.”
