Deceased Insolvent Estates - The laws on deceased insolvent estates expose the unaware to dangers of their fees and dispositions being void under the rulings in Re Vos, as a consequence of the Administration of Insolvent Estates of Deceased Persons Order
Any insolvency carries an element of stress, and where the individual in question has also passed away matters can become compounded, as a complex estate reaches stalemate with professional probate experts being unwilling to adopt the responsibilities and risks of controlling it.
The leading cases in the area are Dick v Kendall Freeman (also known as Re Vos) and Williams v Lawrence – both precedents obtained by our personal insolvency team. The implications of the rulings are wide ranging for both accountants and lawyers who become involved in an estate, as well as any purchaser of property from the estate or executor.
Quite simply, all those involved run the risks of their fees and transactions being overturned by an Insolvency Practitioner, and advice should be sought to ensure you remain protected and inside the scope of the rulings.
Our experience in the area means we are happy to offer free advice to those involved in such matters, and we have over a decade’s experience in assisting families, probate professionals and creditors to minimise risk and maximise recovery.