Choosing an executor for your will can be a difficult decision, and one that isn’t talked about much. It’s a well-known fact that making a will is hugely important, but when it comes to choosing an executor, there’s not as much information available. To help you make the right decision, we’ve listed the top three things that you should consider when choosing the executor for your will.
While it is important to choose someone you know and trust, it is just as important to make sure that they can actually carry out the role.
Being an Executor is not easy. Your chosen person will be in charge of ensuring that the wishes you communicate in your Will are carried out and your beneficiaries receive their inheritance.
Your Executor will need to deal with legal and financial duties they are probably not familiar with, they will need to spend a great deal of time sorting paperwork and dealing with numerous third parties, all of this may be at a time when they are grieving.
What should be considered when appointing a Solicitor to act as Executor is that they are neutral – they are not a beneficiary under the Will so their dealings will be strictly in accordance with your Will. They understand the law and what needs to be done to administer the Estate correctly and quickly to ensure that all the people you wish to benefit receive their inheritance.
Although the cost of using a Solicitor will come from the Estate, there is the assurance that the Estate will be dealt with correctly and in the unlikely event that a mistake is made, Solicitors are insured and regulated so there will be no loss suffered by the Estate.
Alternatively, you may wish to choose a Solicitor together with a person whom you trust, they will then work together to administer the Estate with the Solicitor taking the lead over the legal process and the co-Executor dealing with more practical matters.
We can help you with this important decision, or should you decide to hire a professional, we can act as executor of your will to ensure that all your wishes are carried out exactly.
To find out more call us on 0207 406 5875.
Ellie is a resident writer for Best Value Probate, covering topics such as Probate, wills and other legal proceedings.