Finding an executor for my estate

KLF2006

Having recently had a baby I am making a will, and need to name an executor of my estate.

Obviously the cheapest option is to ask a friend or family member to do the job, but I think that's unfair on all my busy friends and family!

I could appoint a big bank or building society to do it, but fear it will be really expensive. My grandmother died recently and the HSBC claimed 15% of her estate in fees.

Any suggestions?

Bossyboots

Friend or family is the way to go. Using a professional to be executor will deplete the estate, as you have seen. Hppefully it will be many years before your executor is needed, so I don't think there is any reason not to ask people who are very busy at the moment.

elliebean_2

15%? That's daylight robbery!!

You could use King's Court Trust Corporation: www.trustcorporation.com Thery work differently to banks and solicitors. They charge approx 1½% of your estate and if there are any other executors nominated, who feel at the time that they can do the job without Kings Court, then Kings Court will withdraw their interest with no charge.

Tiggs_2

there must be someone? who will look after baby if your dead? would they not do? (i assume HSBC arent getting the kid!)

snoozy

Appointing an executor is vasting different from nominating a guardian for a child!

Mrs_pbradley936

snoozy wrote:

Appointing an executor is vasting different from nominating a guardian for a child!

My thoughts as well. When mine were young I had my sister down to be guardian and a family friend to take care of any money issues. My sister (much as I love her) is useless with money but not bad at getting kids up washed, dressed and off to school etc. My friend would run a mile from a kid with a dirty nose. But both could be relied upon with the job entrusted to them.

pooranddesperate

I would suggest that you appoint 2 family members or friends as executors (you should normally have more than 1) - and if they don't have the time/ expertise to deal with your estate then they can always appoint solicitors to do deal with the paperwork.

moonrakerz

I acted as executor for my mother, who died earlier this year.

It really is very simple, unless of course the Will is very complex, which in 99% of cases it isn't.
HM Court Service has an excellent web site which leads you through the procedure and all the forms you need can be downloaded from there.

http://www.hmcourts-service.gov.uk/cms/wills.htm

Cook_County

Never, ever, appoint a bank. Always choose a relative. They can appoint a professional if complications arise providing the Will permits this.