Personal representatives (PRs) have a legal duty to administer the deceased’s estate ensuring all debts are paid and beneficiaries receive their inheritance in accordance with the deceased’s will or, if there was none, the rules of intestacy.
The coronavirus lockdown in March has made it harder for PRs to administer estates within a reasonable period of time.
During the lockdown, nearly all property sales were paused meaning that delay in the administration of estates with property to sell was unavoidable.
It may be too early to see the impact of coronavirus on property prices but it is hard to imagine that properties will retain their pre-coronavirus values as we come out of lockdown.
Russell-Cooke partner Kieran Bowe examines in Law Society Gazette the likely impact of the coronavirus pandemic on the duty of PRs and the administration of estates in general.
Administering estates during the coronavirus pandemic is available to read on the Law Society Gazette website.
Kieran is a partner in the private client group and since qualification he has specialised in private client law, advising families and individuals on matters including estate planning, administration of high-value estates, trust administration and Court of Protection work.