Probate - do I need to place a S27 notice?

joerugby

I am the executor and one of four beneficiaries of my late father's estate.

I understand that I can place a notice in the London Gazette and in a local paper inviting creditors and other claimants to contact me within 60 days, and that if I do this it will protect me as executor from personal liability for any claims received at a later date.

However I understand that as a beneficiary I and my fellow beneficiaries would still remain liable for any genuine claims.

So is there any benefit in placing a notice?

BTW the estate is quite straightforward, the will is absolutely clear and I am pretty confident I've contacted all potential creditors.

Any comments would be appreciated - thank you

John_Pierpoint

I did not bother with my mother's estate, but did so with my uncle's.
The only thing that came out of the woodwork were coffin chasers trying to buy the house at a discount price.

Are you keeping the property?
Are you well known in the area?
Anyone with an effective claim should have protected it by getting it registered or a caution against probate.

I used the address of the deceased, so I very much doubt any unsecured creditor will track me down, now the house has been sold.

joerugby

John_Pierpoint wrote: »

I did not bother with my mother's estate, but did so with my uncle's.
The only thing that came out of the woodwork were coffin chasers trying to buy the house at a discount price.

Are you keeping the property?
Are you well known in the area?
Anyone with an effective claim should have protected it by getting it registered or a caution against probate.

I used the address of the deceased, so I very much doubt any unsecured creditor will track me down, now the house has been sold.

Thank you John.

There is no house - it was sold some time ago.

My father was fairly well known.

My question in essence is "what is the point of avoiding liability as an executor if I still have liability as a beneficiary?"

rpc

I would think that, in this scenario, as executor you would be liable for 100% of the claim while as a beneficiary you would only be liable for 25% of the claim.

John_Pierpoint

In England and Wales the statute of limitations against ordinary debts is 6 years (never even acknowledge the letter if you feel not morally responsible for the debt as if you do the 6 years will start all over again) and for real estate (including defaulted mortgages I think) it is 12 years. The debt collection industry, which buys debatable, defaulted, dodgy and down right bad debts tends to use all sorts of dubious tricks to try to collect, but does not often have a water tight well presented claim.
I have never had to dodge debts, though there is a veritable industry on part of this forum that does, but I have twice lived in property where the previous owner/tenant has "done a runner" - dying is a pretty effective way of drawing a line in the sand, it is the same as going bankrupt.

John

I have once been left holding a cheque from someone who died (fortunately) as anyone claiming from the estate of a dead person has to "prove the debt" and that can be difficult when the witness is missing. Fortunately a cheque is a bill of exchange and a negotiable promise to pay; thus switching the tables on the executor.

madbadrob

A section 27 only provides security for executors and not the beneficiaries. As an executor I would place one anyway and then if a creditor does come looking in the future you will only be liable for your percentage of the estate and the other beneficiaries cannot say you didnt carry out your responsibilities as executor correctly

Rob