Being the Executor of a Will

Marcheline

Hello all, this is my first post so apologies if I've posted in the wrong place. I have recently been asked to become one of the executors of a family friend's will (there will be 3 people acting as executors, but I do not know the names of the other people) and I am hoping to get some more information about the role before I agree to it, as it seems to be a big responsibility. The man in question has no close relatives and I am not sure of the likely value of the estate. I am wondering whether anyone on here has experience of a similar situation and what I should ask to know before accepting the role.

Should I just ask where important papers are kept and that's it? Or do I need to know who the other executors are before agreeing whether to become one myself? And do I need to ask to read the Will before agreeing to become an executor? I do not want to be nosy (as I feel that what the Will says is not really any of my business) unless I really need to be because of potential legal implications for me after his death.

Any advice or helpful comments will be most welcome.

Thanks.

SailorSam

It's not a case of being nosey, you will have to read the will because it will be your job to see that the wishes of the deceased are carried out.
You are going to gather all the bank a/cs., premium bonds, shares etc etd any insurance policies . You will need to write to all these people and send a copy of the death certificate, proof of your identity, and probably a copy of the will.
You will also need to pay any debts of the estate such as funeral expenses, anything that the deceased owes, perhaps tax
Then once you have everything togethor you will need to arrange for probate.
You need to get in touch with the others so it can be seen that everything is above board, and you're not left to do it all on your own.

Marcheline

Thanks for your reply Sam, much appreciated. I know that once my friend has passed away I will have to read the Will and do the things you have suggested, but I am wondering whether I need to know these things while he is still alive now? I would like to know what I need to ask about before agreeing to become the Executor. Thanks.

Errata

Executors only have the right to read a will once the willmaker has died, not before. Wise executors will ask the willmaker to ensure the will is kept in a safe place and what that place is.
A willmaker can appoint an executor/executors without telling them they've been appointed. This may seem bizarre, but sometimes a close friend or even a solicitor may be more competent, in the willmakers eyes, than a family member - a view the family may not agree with and may be tempted to let the willmaker know in no uncertain terms what the family view is.
Info on the duties of an executor here http://www.hmrc.gov.uk/manuals/tsemmanual/tsem6051.htm

Marcheline

Many thanks for the advice Errata.

SailorSam

I don't think you need to know anything, i don't think it's uncommen that people let everyone know what they are putting in a will, but many will keep it secret.
AS far as i know there is no limit on the number of executors that can be named, but it is most common to keep it to two, but this is only for convenience , since you will all need to meet. You could be named as an executor without your knowledge, but this would'nt normally happen because an executor does'nt have to do the job, just because he/she has be named, so to save any inconvenience of it taking you by surprise and you saying no, it's just good manners to ask people first.
If the executor is a person who would'nt have normally got a share of the estate ( not family or friend), again it is just good manners that you will be left something, as a reward for your work in sorting the will out. If you are not mentioned in the will, as a benificiary you are entitled to claim reasonable expenses for the time you put in to administering it.

Errata

A bit more info here http://www.communitylegaladvice.org.uk/en/legalhelp/leaflet10_13.jsp

As Sam says, most people appoint two executors, but there can be difficulty if one of them predeceases the willwriter and the other one is incapable of carrying out executor duties (for whatever reason) and the willwriter hasn't made a new will appointing new executors. Personally I'd always suggest three and the willwriter review their will every twelve months and take account of any changing circumstances.
One thing I would add, if someone is asked to be an executor and they don't feel 100% comfortable, then it's wise for them to ask the willwriter to excuse them.

wallbash

Technicality I suppose I am still an executor , I say this because I now believe I have 'wrapped' up my duties :beer:
Lady in question passed away last March. Rightly believed that her grown up son would need lots of help.
So I helped arrange a funeral, find a solicitor, allow the solicitor to retrieve the will.

( this is how I found/joined this site)

Then under guidance collected together the outstanding bills.
Cleared the house..... Put the house on the Market ( Sold In December :j)


My only task, is now to check the final bill from the solicitor.

To sum up. did I do the right thing in accepting the role of an executor??
Yes , as it was a very close friend. Would I been less happy to do the job for a more distant colleague.... there was a lot of paper work, yes the solicitor did do most of it ( he was being well paid) but I faithfully read all he sent, and tried to find the answers. It was time consuming .

dianasnan

I agree Sailor Sam,

It was explained to us by our solicitor that a solicitor or professional can charge for their time but a non professional person cannot and can end up out of pocket if there is any travelling or lots of phone calls involved. My husband has been executor for several wills and it cost him a fair amount of time and money travelling to another part of the country to sort out the house, finances and chattels and he was not a beneficiary of the wills but felt that he should do this out of a sense of duty.

We felt strongly that this was not right and got round this problem by adding a clause that our non professional benficiary i.e a friend would get a small percentage of our estate to prove our wills if we died as he would have had a far amount of work as we had 2 young children when we made the will and we didn't feel it was fair to expect him to do this for nothing.

localhero

You can appoint as many executors as you like, but a maximum of 4 can apply for probate. It would be sensible to appoint more than one, in case they die before you or at the same as you. You could appoint 2 or 3 together or appoint one with a reserve or two.

Marcheline, if you are asked to be an executor, then it would be unreasonable to ask beforehand to see the Will, but I would advise that you ask where the Will is to be found and other important items (letters of wishes/list of assets and liabilities) are kept alongside the Will to make life easier. You may also ask if there is anything you need to know.

Obviously you won't know if you will be given a gift until you read the Will. And so if you accept the task from your family friend you will have to assume you will have to carry out the role for no payment other than your out of pocket expenses.

If upon this person's death, you find a real mess and a lot of problems, you can obviously at that point either renounce completely (ie simply refuse to carry out the task) or legally appoint somebody in your place (ie a solicitor) to do the work for you who will be entitled to charge the estate for doing the job. Nb if you do renounce, be careful not to 'intermeddle' in the estate - ie get yourself involved in any of the formalities of the role.

If you are not a beneficiary of your friend's Will, he/she should have been advised that the role of executor is a position of responsibility and is time consuming, and that the non-professional executor is not entitled to charge (other than out of pocket expenses) for their time. You might find that you are given a sum of money (commonly £1000 - £2000) on condition of you accepting the role of executor. (Like dianasnan above has done.)

Ultimately you won't know completely what you've let yourself in for until the time comes to act, but you can ask your friend to organise their affairs to make life easier for you and then take a view on it then.

Farway

localhero wrote: »

Marcheline, if you are asked to be an executor, then it would be unreasonable to ask beforehand to see the Will, .

I disagree with this, if I were asked to be an exuctor then I would want to know, in advance, just what I was being asked to do, maybe send £10 to 200 charities for instance, lay on a party for local old folks, burial at sea?

Common sense surely needs to be applied, looking before leaping etc

FWIW I was executor for my mother's easy will, divide in two and share out