A professionally written Will takes a lot of careful thought, but it’s equally important to decide who should look after your estate after you’ve gone. You can then be sure that the wishes you’ve expressed in your Will are carried out in full. That’s why you need to appoint trusted people known as Executors to administer your Will.
What is the role of an Executor?
Executors are responsible for administering your estate when you’re gone. They can even be held personally responsible for any loss resulting from mistakes they make, despite the mistake being made in good faith.
Who should you choose as Executor?
It is an important and responsible role being appointed as an Executor and you need to carefully consider whether the people you choose are truly capable of carrying out their role effectively on your behalf. The people you select should be:
- Business-like and trustworthy
- Able to handle financial matters
- Familiar with the responsibility of the role
- Able to work effectively with your family and friends
- Willing to dedicate considerable amounts of time to the administration of your estate. Probate and Estate Administration typically takes between 9 to 12 months to complete and a lot of work is required during this time
- Over the age of 18 and not bankrupt or in prison
How many Executors should you name?
You must name a minimum of one Executor in your Will, but it is advisable to name two or more, up to a maximum of four. It is also possible to appoint a substitute Executor should any of your first choices be unable or unwilling to act at the relevant time.
Usually people nominate their spouse, partner, children or family friends as their Executors. Although these people may instinctively be your first choice, you should consider whether they’ll be able to manage all your affairs effectively at what will be a difficult time for them personally.
Would a Professional Executor be better?
Many people name a professional organisation as an Executor in their Will instead of a family member or friend. This can provide considerable peace of mind because it relieves them of a serious responsibility and provides support for them at a difficult time.
It’s essential to establish the quality of service provided and the fees charged by Professional Executors before you commit to naming one in your Will. You must also be aware that some companies offer their Will Writing Services at discounted rates on the condition that they are named as Professional Executor.
Under these circumstances, you should ensure that you fully understand whether you can still choose who acts as Executor, or whether you must name the company who is writing your Will.
How we are different
We offer a comprehensive Professional Executor service, providing you with reassurance and flexibility and providing support for your loved ones when they need it most. We’re totally open and honest about the service we provide, and it’s entirely your decision whether you name us as a Professional Executor and how.
Find out more about our Professional Executor service.
You’ll be reassured to know that none of the Will-writing services we offer are conditional upon us being named as an Executor in your Will.