Executor Guidance
Executor Guidance
We provide Executor Guidance so you can discharge your duties confidently and correctly
What is an Executor?
The Executors of the Will have legal responsibility for the Probate process and they control the administration of a Will. The general term “Probate” means the winding up of a deceased person’s estate where there is a valid Will. It involves the administration of all of the terms of the Will and carrying out the wishes of the testator (the person who made the will).
What is Intestacy?
Where there is no valid Will, the process of administering a persons’ estate is dealt with under the laws of Intestacy. There is a set order of priority as to who has the right to administer the estate (called “Administrators” rather than Executors), and who benefits from the estate.
“Personal Representative”
The term “personal representative” simply means either an Executor or Administrator and is a general term meaning the authorised person who deals with the administration of a deceased persons estate. If you are a named executor (or substitute executor) you will be the Personal Representative if you take up your appointment and proceed to administer the estate.
Duties and Responsibilities of An Executor
Each estate or trust administration is different in nature and circumstance, but there are many processes of administering the estate of a deceased person (please see our attached guide for further information).
Estate Planning
There are a vast number of side-issues associated with each of those actions listed above, on which advice should be sought to provide support and legal expertise. Such advice can also lead to money savings for Estates and families (please see our attached guide for more details).
Do you have to take up your Executorship?
Generally, there is no requirement for you to take up an appointment as an Executor. You can retire before you have commenced the role (by signing a Deed of Renunciation) or you can elect to have Power Reserved if you have a co-executor who takes on the day-to-day responsibilities for you. If you are nominated as a trustee of a specific Trust, you will have to take up that appointment initially but it is common that you will be able to retire or appoint someone to act in your place. Likewise, you can appoint a personal attorney to apply with a personal application for the Grant. We will guide you on the options available in that regard.
Are Executors remunerated?
Unless you are an executor in a professional capacity or undertake estate administration work as part of your business trading activities, you will not be entitled to charge the estate professionally for your time and conduct. You will be entitled to recover expenses you reasonably incur as part of your role but that is all.
Delegating your Executorship Duties
Being an executor or trustee is in theory and is very often in practice a very daunting (and thankless) task and often is undertaken without remuneration. Therefore it is often desired and/or necessary to delegate some or all of the duties. We can guide you as to the most efficient way to proceed with personal probate applications.
Contact
If you would like further guidance or advice regarding Probate, Intestacy or Trusts or your role as Executor, Administrator or Trustees or would like to discuss these further in more detail then please contact us on: