“What to do if an Executor disappears with all the Inheritance” was the question posed on a Citywire forum recently which received a number of very helpful comments showing some understanding of the issues involved, particularly with regard to the possibility of fraud.
My initial thoughts and questions, if I were to delve into the matter, would be:
- What about the Trustees duties? eg the duties the executor owes to the beneficiaries of the “trusts” under the Will – if these are breached then there is a case to answer .
- Exactly what documents did the other named executors of the Will see before Probate was obtained? In order to obtain Probate an “Oath for Executors” has to be signed and submitted to the Probate Registry with the application for Probate and the original Will. If any of the named executors are not taking up their “Power of Appointment” then there needs to be a reason why. Again if the “missing” executor fraudulently completed and signed the Oath and Application form there is a case to answer.
- If the “missing” executor is known to have purchased buy to let property recently, then that suggests to me that the executor is not actually missing he is just “avoiding” everyone. It is possible to get copies of the registered title for the properties from the land registry. The property register would also show details as to whether the properties had been purchased as “trust” properties – eg maybe the executor had taken it upon himself, in accordance with powers given to trustees under statute or Will, to invest the money for the beneficiaries, in which case this fact should be shown on the property title. In addition the property owner should have an address registered at the land registry for service eg an up to date contact address
- If the purchase of the properties was however funded by appropriation of funds (redirection) due legally to the beneficiaries, but fraudulently circumvented by the “missing” executor, then there is the question of whether this case involves fraud, money laundering and the proceeds of crime and, what did the solicitors who acted in connection with the purchase of the properties know about where the funds had come from? If, as is suggested, funds from the Estate were used as deposits, then that means that the remaining funds were taken on mortgage and it would have been necessary for legal advice to have been taken in connection with the purchases in order to satisfy the mortgage lenders requirements.
This is a matter which could get very complicated. Therefore, the side-lined executors and the disinherited beneficiaries should take professional legal advice from a competent Lawyer without further delay. If you have found yourself in a similar situation and would like to discuss the options open to you Newnham & Jordan Solicitors are happy to talk these through with you on an initial informal basis, over the phone, or in person, in order to assess the best way forward in your given circumstance. So why not call us now for “Coffee & Chat” to see how we can help?
This article is intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
One comment
Great information! I’ve been looking for something like this for a while now. Thanks!