Executor Disputes Rising: Why Hiring a Professional Executor Might Be Your Best Choice

In recent years, executor disputes have been increasing.
Claims in the High Court of England and Wales have surged by over 20% in the past year, according to The Times.
Although the total number of disputes remains relatively low, this trend is concerning for executors and beneficiaries alike.

Understanding the Rise in Executor Disputes: Key Factors

Several factors contribute to the growing number of executor disputes:

Blended Families

More individuals are entering second marriages or have children from previous relationships.
As a result, estate management becomes more complex.
Executors often face challenges in distributing assets fairly among various family members.

Escalating Property Values

Property prices continue to rise, and the stakes are higher.
This leads to more disputes over asset distribution.
Financial pressure can intensify tensions among beneficiaries.

Conflicts of Interest

Executors who are also beneficiaries may struggle to remain neutral.
This dual role can lead to conflicts of interest.
Consequently, managing the estate impartially becomes difficult.

Lack of Understanding

Many executors are not fully aware of their fiduciary duties (a legal obligation to act in the best interest of another party) .
This lack of knowledge can lead to unintentional breaches.
Such breaches often spark disputes.

Communication Breakdowns

Miscommunication between executors and beneficiaries often results in misunderstandings.
A lack of communication can also lead to disagreements.

The Case for Professional Executors

Given these challenges, appointing a professional executor can be a wise decision.
Professionals bring expertise and neutrality.
They ensure the estate is managed according to the testator’s wishes.
This minimises the risk of disputes.
THINK – it could be better for the beneficiaries to receive a little less, but know that everything has been sorted fairly and impartially.

At Beacon Advice, our advisers have access to a network of trusted probate companies.
If you choose to appoint us then we can ensure the right company undertakes the work at a fair price.

Conclusion

Executor disputes can be emotionally and financially draining.
By considering a professional executor, you can help safeguard your estate.
This ensures a smoother administration process.
If you have any questions or need guidance, contact Beacon Advice today.
Learn more about our professional executor referral services and ensure your estate is managed smoothly.

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