Executors should wind up estates quicker [LETTER]
I am sure there are readers who have been subjected to this and feel it is not acceptable.
EDITOR – When people start getting older, we find some pass away leaving spouses in a financial crisis.
When responsible couples prepare their wills an executor is appointed. This person immediately puts a stranglehold on the bank accounts and submits the statement of the will to ‘lord almighty’, the master of the court.
Then the waiting begins and from the stories around is that the surviving spouse, usually the wife, is left without any available finances to live on, relying on family and friends to help. Usually there is very little communication between the executor and the inheritor, so knowledge is not forthcoming.
It leaves one wondering if the money accumulated in the estate, which is gathering interest, is the reason it takes so long for the estate to be wound up. The executor is paid on a percentage of the finalisation of the estate, so it in their interest to elongate the time.
I don’t know whether our readers are aware of the procedure of estate management by the parties involved, but is seems to take an enormously long time between the demise of a spouse until the estate is finally wound up, and the inheritance is paid out.
I am sure there are readers who have been subjected to this and feel it is not acceptable.
SENIOR WIDOWER
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