All change for Agricultural Tenancies? – Not Just Yet
Well, clearly, whatever you believe in, death does mark a number of endings but it may just be the beginning of a series of problems for those left behind, especially if the deceased was insolvent.
Over the past few years, the Insolvency & Recovery Team at Larking Gowen have dealt with an increasing number of personal estates where the deceased was insolvent, together with companies where the sole director/shareholder is deceased.
In our experience of handling these matters, not only are those relatives, friends and associates dealing with their grief with regards to the deceased, but there also appears to be quite some confusion over what to do next and how to do it.
Maybe that’s just a problem generally with regards to insolvency matters but, in our experience, that’s not the case.
Clearly, the options do include doing nothing. Whilst we wouldn’t recommend this, we’re aware of a number of cases where executors/sole beneficiaries have not applied for probate and merely used the assets.
We have experience in dealing with both personal insolvent estates and also solvent and insolvent companies where the directors are deceased and would be very happy to talk through the options that are available.
If you have any queries or concerns, please get in touch with our Insolvency & Recovery team. We have two licensed insolvency practitioners as well as insolvency managers who can offer advice and help. Call us on 0330 024 0888 or email firstname.lastname@example.org.
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