If you are appointed to act as a Personal Representative (PR), you have a legal duty to settle all liabilities of the deceased’s estate. However, when a loved one dies, it can be difficult to know the true extent of their estate, or how to locate any potential creditors or unknown beneficiaries.
Our Solicitors at Johnson Astills can assist you with the preparation of Statutory Advertisements which seek to protect you as a PR against claims from any unknown beneficiaries and creditors.
Statutory Advertisements are legally recognised notices placed in both the London Law Gazette and local newspapers that notify any potential creditors or beneficiaries of the death of your loved one. Where the deceased owned a property, it is advisable that an advertisement in placed in the newspaper local to the property. Each notice will last for a period of two months, after which any claims that come forward cannot be claimed against you personally as a PR of the estate.
These are a helpful aid as they reduce the risk of PRs being held liable for any debts that were not identified and settled before the estate was distributed. It also gives any unknown beneficiaries the chance to claim their inheritance. This is especially relevant where the Will leaves the deceased’s estate to a class of beneficiaries, or where there is no Will and the Rules of Intestacy apply to set out who should inherit. In both cases, the beneficiaries will not be named individuals, making it important to try to identify them and confirm their entitlement before distribution takes place.
However, it is important to note that whilst PRs are protected from personal liability, beneficiaries are not. A creditor can come forward and claim the amount due from any beneficiary of the estate. Therefore, if you are a PR and a beneficiary of an estate, you may need to seek further protection as you would then become liable for any debts arising. If you wish to discuss this further please speak to one of Probate Solicitors.
If you are appointed as an Executor or acting as Administrator and would like to discuss the preparation of Statutory Advertisements, our expert solicitors at Johnson Astills would be pleased to assist you. For further information, or to arrange an initial fixed fee appointment, please call our Leicester Office on 0116 255 4855 or our Loughborough Office on 01509 610 312, or fill in our free online enquiry form and one of our friendly team members will be in touch.
