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Veritas vos liberabit (The truth shall make you free)

Monday, May 25, 2015

The legal fraternity never fails to surprise me...

The scene: A last Will wherein 3 capable Executors are nominated by the deceased.
The "legal practitioner" appointed to do the legal paper work in cold blood asks the Executors to sign a Power of Attorney with the following wording: "We (the appointed executors)appoint "the legal practitioner" as our agent granting unto him full power of attorney to deal with all aspects of the winding up of the estate in our place and stead just as though he was appointed in the first place ".  If this is not hijacking then I don't know what is.
Basically the legal practitioner is asking them to step aside and put himself in and out of the picture! Nice he?

Why?
There are two meanings to the word "Executor":
1- The man in the street understands it to mean: “A person appointed to make sure that the last will of the deceased is respected and executed” No shenanigans please!
2- Some legal practitioners give the word a different meaning... they see this as "Lots of Money to be earned for little work!"

You see an Executor is entitled to a reward for looking after the deceased last Will.
It does not mean that the Executor must take or accept the reward.
We are not looking at peanuts here... in South Africa, the legal practitioner will ask for at least 3,9% of the value of the Estate. Converting some of those values into cash is even more rewarding, 5% upwards of such cash...

And still there are people who blindly believe…

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