Executors
EXECUTOR SERVICES WEST LONDON
Executor law
The role of an executor is to administer the estate of the deceased using the contents of the will as a guide. Although a beneficiary under a will can appoint anybody over 18 of sound mind to be an executor without their consent, it is prudent to seek the consent of the executor before appointing him/her for this role as an executor can refuse to act.
An executor can decide to “sub contract” his duties and may decide to instruct a firm of solicitors to carry out most of the work or to divide the work between the executor and solicitor.
The executors are able to claim a certain amount back from the estate if they agree to become personally liable for any arrangements made with regard to the funeral. The executor will not be financially burdened by any amounts spent while taking this position as he is entitled to have all expenses paid out of the state.
The amount of work which the executor is expected to perform depends very much on the size of the estate. If the estate is small and there is not much else to do apart from close and distribute one or two bank accounts then this should not take up much of the executors time. However larger and more complex estates can require a lot of time and effort. Indeed in these cases it is advisable that executors of an extremely complex estate do seek professional legal advice to assist them with their duties.
In complex estates there will be large amounts of documents to sign and correspondence to deal with which the executor will be expected to do. The executor is also expected to locate and identify assets or liabilities in the estate and arrange for any gifts which have been specified to be distributed. This is where things can sometimes go wrong. The executor will very often underestimate the time needed for this type of task. The law requires that the executor comply with the specifications of the will. However an executor may be wrongly influenced by a family member or friend who claims, in many cases quite rightly, that the will-writer always promised they could have a certain asset after their death.
A final point worth noting is that the ceremonious “reading of the will” where executors, solicitors, and beneficiaries group together and experience great surprise and indignation when the contents of the will is shockingly revealed, is more suited to a Hollywood film than real life.
The duties of an executor can be quite burdensome. If you find yourself being in the position of an executor and you require assistance on how you undertake these duties then we suggest you seek professional advice from a qualified solicitor.