Sometimes appointing Executors for a Will is an easy choice but sometimes it can be more difficult. You can appoint beneficiaries to be Executors (beneficiaries must not witness a Will but can be an Executor). A couple could appoint each other in the first instance and have others to be next in line. In certain circumstances it may be preferable to appoint a professional Executor to act either instead of or alongside lay Executors. If your Executors are not confident to do everything they can always use a professional to assist them and the costs will come from the estate. If you are uncertain who to appoint we shall be pleased to give advice as appropriate. Please use the READ MORE link below, watch the video or call the helpline.
Executors are appointed to wind up the estate. Couples usually appoint each other with two alternative Executors to act at second death. These may be the beneficiaries. If you have children who are adults you may appoint them. If your children are young adults you may wish to appoint a trusted relative or friend alongside them to guide and support. There might be reasons to have someone work alongside or instead of a surviving partner, possibly due to illness or infirmity.
Executors must be in a position to act; those living abroad will not usually be in a position to do so. A person who is bankrupt or has a very poor credit rating will be unable to open an Executors account. It would be unwise for them to use a personal account from which money might be taken by creditors. They should have a reasonable expectation of surviving you. Younger couples sometimes appoint their parents to act as Executors in the event of second or simultaneous death but it must be borne in mind that different arrangements will one day be needed.
Lay Executors may claim their reasonable expenses but are not paid although sometimes a small legacy is left to them for their work. If a professional is appointed then a charging clause is required.
Only you know your circumstances but we will always be pleased to help and advise clients who are having difficulty deciding who to appoint.