When you make a will, you nominate an ‘executor’, who has the responsibility of managing your estate (money, property, businesses, and any other assets) when you pass away.
You can choose a family member or friend, but it is recommended that you opt for a professional executor as there is a significant amount of responsibilities involved in the process of executing a will.
The executor(s) takes control of a person’s will when they pass away and ensures that the individual’s wishes are carried out exactly how they intended.
Executors are usually required to:
As long as they agree to the responsibility, you can choose just about anyone to be the executor of your will.
The executor of a will can be anyone from a professional solicitor to a family member, and there can be up to four executors if the person who writes the will would like the responsibility to be shared among a few people.
Although you are able to choose a family member, many people tend to opt for a professional solicitor, as the duties of the executor of a will include a number of complex procedures.
The duties and responsibilities are also time-consuming, which can be stressful for a regular family member to deal with, at a time where they should be grieving in peace.
Choosing a solicitor as an executor is the most reliable and straightforward option, as we have been trained to deal with such responsibilities and are experienced in dealing with wills.
Having a professional executor ensures that no errors are made and that your estate is managed in line with your wishes, but also in a way that is legally accurate. If your family member takes up the responsibility of an executor and makes an error, they are legally liable for any errors and could be subject to compensation claims.
As mentioned, it is possible for up to four executors to be nominated to manage a person’s will, but not all of them are required to be involved in the process.
There is no law that stops one executor from handling all proceedings themselves, as long as they are willing to and all the other executors are happy with the decision.
For example, if both a spouse and a solicitor are nominated as executors, the solicitor could take control of the management of the will if the spouse would rather take a step back from proceedings.
Although there is no law stating a specific timescale in Wales and England, the executor(s) of the will should notify beneficiaries of the estate as soon as possible.
Here at Unite Wills, we are guaranteed to contact the beneficiaries of your will at the earliest opportunity deemed suitable if you should pass away, and will make them aware of how they go about obtaining the estate they’re entitled to.
Instead of placing the burden of an endless list of legal and financial responsibilities on your loved ones, why not choose a professional executor to take care of the duties involved with executing your will?
If you’re looking for reliability, we are available to be professional executors for your will today, so you can guarantee that you will receive top-quality service at an affordable price.