How do I choose an executor for my Will?

Before you decide who your executor/s should be, it’s important to understand what their role and responsibilities are.

An executor’s role is to follow the wishes that the deceased has left in their Will and deal with all aspects of the administration of the estate. This could include making difficult decisions such as whether to sell assets like the family home.

Examples of their duties include:

• Arranging the funeral
• Locating the original will and ensuring this is the last signed Will in existence.
• Locating all assets from the estate including, houses, bank accounts, shares, personal possessions etc and ensuring they are safely secured.
• Arranging valuations of all assets, for example instructing a valuer to value any properties.
• Determining whether any debts are due and arranging for these to be settled.
• Locating beneficiaries of the estate
• Arranging for probate of the estate and completing any necessary inheritance tax forms.
• Once probate has been granted, distributing the assets of the estate to the relevant beneficiaries.
• Finalising the administration of the estate

How many Executors should I choose?

You can appoint up to four executors however they must act jointly and make decisions together.

Who can be an Executor?

An executor must be at least 18 years old and have the mental capacity to act.

They can be a family member or other loved one, alternatively you can appoint a professional executor.

Your Beneficiaries i.e., the people who will receive a gift from your will, can also act as executor. You can therefore appoint your spouse, civil partner, or children to be your executors.

Should I appoint a professional Executor?

Many people choose to appoint a professional executor such as their accountant, legal advisor, or their bank.

The professional executor can act on their own, or they can act alongside on a family member of the deceased.

The benefit of choosing a professional executor is that they have experience and are independent should family disagreements arise.

Here at Charlton Baker, we not only specialise in tax, but we are also qualified to assist with legal services such as Will writing, Lasting Powers of Attorney and applying for probate, meaning you would not need to instruct a solicitor. We have been acting as professional executors for our clients for many years and have a wealth of experience in this area. Please do get in touch to discuss further.