Help: Executors

What happens if the appointment of an executor or guardian fails?

by | | Help: Executors, Help: Guardians, Knowledge Base, My Wishes |

You might have already approached the people you’re going to appoint as guardians and executors in your will for their permission to do so, but let’s face it, a lot can change between now and when your will’s going to be needed. This could include these key people changing their mind, not being around anymore or not being physically able to carry out their responsibilities. How you can minimise the risk of this happening We’d always recommend you appoint substitutes for the key appointments in

What is a 'trustee'?

by | | Help: Executors, Knowledge Base, Glossary |

A trustee is a person who has legal responsibility for assets on behalf of somebody else, called the beneficiary. Trusts have all sorts of uses. They can be complicated they don’t have to be. In fact even the most simple of wills might require someone to take legal responsibility for assets on behalf of someone else. A good example of this is where a will leaves something to a child under 18 In that case a trust is needed to hold the assets for them until they reach 18 (or older if that’s what

Who should be appointed as an executor?

by | | Help: Executors, Knowledge Base, My Wishes |

Being an executor is an important and sometimes demanding responsibility, so it is vital you choose yours with care. It is often a good idea to talk to anyone you’re thinking of appointing before you write your will to make sure they have a fair understanding of what will be expected of them and they are happy to take on this role. If they are not willing, they will have the right to refuse the responsibility when the time comes, so it makes sense to get their permission in advance. Who can be

What is an 'executor'?

by | | Help: Executors, Knowledge Base, Glossary |

One of the most important tasks involved in writing your will is to appoint executors. These are the people who will manage and distribute your estate after you’ve died, using the instructions you make in your will.What does an executor do? Typical responsibilities can include: * Collecting and listing all of the assets in the estate – bank accounts, property, possessions etc. * Valuing the estate. * Applying for a grant of probate. * Making sure all debts, bills, taxes (including inheri