In a situation as sensitive as probate, committing fraud may seem almost incomprehensible. Sadly this doesn’t mean that it never happens, with some individuals abandoning any consideration for the bereaved and committing fraud in regards to the assets of the deceased.
By taking advantage of the dead or someone who is close to passing, the fraudster may help themselves to assets, personal possessions or money that was never meant for them. Therefore, it’s essential that probate is dealt with in the most effective way.
Probate can often be manipulated by many, resulting in greater opportunity for fraud.
Examples of such fraud include:
– Coercion while the deceased was still alive
– Removal of assets
– Misuse of executor power
Why is fraud becoming more common?
Probate fraud is easy to carry out. Although beneficiaries gain from an estate, UK law states they can’t view the accounts. This responsibility falls on the Executor, who have a duty to answer any questions but could easily keep beneficiaries in the dark.
Increasing amounts of probate fraud are also taking place online. An email may be sent from an imposter claiming to be a solicitor regarding a substantial sum to which they may be entitled to as a beneficiary. Before any further information is released, the fraudster will request funds to cover any tax or other costs. Whilst some of these emails may be easily detected as scams, others are more refined, with false documents even being attached. As technology develops and methods used by fraudsters become more sophisticated, the likelihood of falling victim to a scam only increases.
Avoid the scams
It’s important to act preventatively, as well as being aware of what to be on the look-out for, such as:
– Large transfers of money or property
– Disappearance of valuable items
– Sudden alterations of a Will not long before death
Do consider these incidents with great care and seek professional opinion if you have any serious suspicions. Ideally, preventative measures are a more effective means of avoiding the fraud in the first place.
Next steps
Use a professional – seek out those with proven credibility and competence in dealing with probate cases. They will have sufficient knowledge to handle the deceased’s estate capably.
Make a Will – intestacy (dying without a Will) can lead to complications much greater than fraud so this step is vital. Stating clearly who the Executors and beneficiaries are prevents relatives from sorting out the often complex matter between themselves.
To discuss your estate plans with an expert please contact your nearest office.
