Legal Question in Wills and Trusts in United Kingdom
My Father died in 30th Jan 06. He was a very careful man who invested in many countries in Europe. The lawyer acting as executor appears to have really dragged his feet; loosing the will, requesting legal opinions as to whether an offshore Jersey Trust fund required English Probate etc.
During this time 3 investments my Father made in The Isle of Man under an umbrella company appear to have suffered; first we were told that all his investments were lost, referring to account statements we were able to question this as the fund in question was not shown on the statement. We had a complete capitulation with promises of sales of the remaining investments immedaitely; now the investment company we are told cannot release the funds of the healthy investments until the investment that suffered is recouped??
N.B the investment that suffered liquidation was December 08 and the smallest of my Fathers investments.
Can they with hold the other two investments which are in healthy seperate compainies, and which they promised to sell?
Thank You very much.
1 Answer from Attorneys
It is impossible to say without further information but extremely unlikely. There is however something extremely wrong and worrying here which suggests incompetence or even negligence on the part of the solicitor acting for the executor. Almost 4 years on the administration of this estate has still not been completed and it is difficult to believe a legitimate reason for this. Just as worrying is the probability that these investments may have fallen in value during this period.
It is inexcusable that the testators daughter and presumed beneficiary is now having to make independent enquiries and I am sure has suffered stress and worry over this apart from being denied her inheritance. It is a question only at the tip of the problems with this administration and my advice can only be to seek positive help and advice elsewhere (or even from us)
Andrew Dutton
www.legal-zone.co.uk
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