We are often asked by clients especially executors and administrators why there is a need for a Trustee Notice in respect of an estate administration.
These are important and in terms of estate value, are not overly expensive.
In effect they protect the executors and administrators.
What is a deceased estates notice?
A deceased estates notice is an advertisement to all potential creditors and beneficiaries, stipulating the need for people to come forward to make a claim against a deceased’s estate, before the estate is distributed. These notices are placed in the Official Public Record, which is afforded legal standing in a Court of law.
The notice contains the deceased’s name, their address and other information such as their occupation, also the contact details of the executor/administrator of the will. Deceased estates notices are sometimes referred to as ‘statutory advertisements’ and can also be placed in a newspaper local to the deceased.
Why are they important?
It can often be challenging to find out the full extent of a person’s credit history and identify all companies or persons who are owed money from the estate. For example, outstanding finance on household goods or a ‘buy now pay later’ credit agreement. These companies would be able to pursue a claim to the estate and would require payment prior to the estate being distributed.
Placing a deceased estates notice demonstrates that enough effort has been made to find creditors before distributing an estate to its beneficiaries. This protects the executor/administrator from being personally responsible for money owed to any unidentified creditors.
What happens after the notice is published?
In England, Wales and Northern Ireland, claims to the estate must be made within two months of the notice being published. However, it is recommended that the claim date be set at six months in Scotland.
The Public Record dates back to 1665. It holds millions of public notices including insolvency, deceased estates, government and state notices.
What do I do next?
Contact us to represent, discuss or help with deceased estates notice placement.
If you would like any further advice, please do not hesitate to contact us:
3C Legal Limited
Fax: +44 (0) 1684 294865
Mobile +44 (0) 7707 644738
info@3clegal.co.uk