Appointing an Executor in Your will

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One of the most important elements of drafting your will is appointing an executor. Here, we’ll explore what an executor of a will is and the steps for appointing one.

What is an Executor of a Will?

An executor is a person or institution chosen by the person writing the will (known as the testator) to manage their estate once they have passed away. The executor’s primary responsibility is to ensure that the wishes detailed in the will are carried out.

The duties of an executor might include:

  • Gathering all assets of the deceased.
  • Paying any outstanding debts, bills, or taxes.
  • Distributing the remaining assets among beneficiaries as stated in the will.
  • Selling property or assets if necessary.
  • Handling any legal paperwork related to the estate.
  • Filing the necessary tax returns.

How Many Executors Can You Appoint?

While you can appoint just one executor, it’s not uncommon for individuals to appoint two or more executors to share the responsibility. This can be particularly helpful if the tasks involved are complex or if there’s a concern that one executor might not be able to undertake the responsibility when the time comes.

How to Appoint an Executor

Selection of Suitable Executor(s): This could be a trusted family member, friend, professional adviser, or even a bank. Ensure that the person(s) you’re considering is willing and capable of taking on the responsibilities.

Documenting the Decision: When drafting your will, clearly state the name(s) of the individual(s) you’ve chosen as executor(s). If you’re using a solicitor to draft your will, they will guide you through this process.

Professional Executors: If you decide to choose a professional executor, such as a solicitor or bank, be aware that they will charge for their services. This fee will typically come out of the estate’s assets. It’s crucial to discuss and understand these fees upfront.

Notifying the Chosen Executor(s): Always discuss your decision with the individuals you’ve chosen before formally appointing them in your will. This ensures they’re aware of their responsibilities and are willing to act when the time comes.

Storing the Will Safely: Once your will is drafted, store it in a safe location and let your executor(s) know where they can find it.

Regularly Review Your Decision: Over time, relationships, circumstances, and wishes can change. Regularly reviewing your will ensures that your choices, including your chosen executor(s), still align with your current desires and circumstances.

Points to Consider

Residency: While it’s not mandatory for an executor to live in the UK, appointing someone in the country can simplify the process due to proximity to the estate’s assets and easier accessibility to relevant institutions.

Age: Executors must be at least 18 years old.

Beneficiary as Executor: It’s common for testators to choose a beneficiary of the will to also act as an executor. This is entirely permissible under UK law.

Declining the Role: An executor can decline the role if they feel unable or unwilling to perform the duties. If this happens, and there isn’t another appointed executor, the court can appoint someone to the role.

Choosing an executor is a crucial part of the will-making process. This person or institution will ensure that your wishes are executed correctly after your passing. Careful consideration and regular reviews of your choice can help in a smooth transition of your assets to your loved ones.

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