Being dad's executor

Errata

sussexlad2009 wrote: »

As explained, it is simply so that should I die there will be someone to see that the kids are still looked after.

Worst case scenario: if you and your wife are both killed in a car crash, what then?

sussexlad2009

(removed thanks)

sussexlad2009

LannieDuck wrote: »

If you have a look at the Deaths and probate section of the boards, you'll see that wills aren't always straight-forward and, even if legal advice is used to draw them up, they sometimes end up in dispute.

If there are two main beneficiary families - yours and your sisters, it makes sense to me that your Dad would appoint one exec from each family. That way both families would be involved in the execution of the will and hopefully no-one could then complain about the outcome.

I don't see why you think your Dad should appoint your wife as one of his executors in preference to his own daughter?

I partly see what you are saying, but if there will says XYZ will happen does it matter who sees that it does?
Once the will is in place, there should be no interpretation or negotiation should there?

One of the things dad wants is for his final wishes to be carried out to the letter.
As its the last thing I can do for him this would be what I would do?

Savvy_Sue

sussexlad2009 wrote: »

Just to add to this, if there were more than one exec, how are they required to work together? does each named have to agree and sign each letter sent for example?

Not necessarily: I was joint executor for my dad and we kind of took it in turns to do different things.

Also an executor can stand down, in two ways, either completely or with 'power reserved'. The latter means that if they're not happy about anything, then they can 'take an interest' again.

Best way of finding out if sis would have her nose put out of joint would be to ask her! She might be delighted not to be involved.

meritaten

it does only need one person to be executor - but a will normally names two, sort of like an heir and spare! in reality usually one executor deals with the will/solicitor while the other just 'overseas' and signs off if satisfied the will has been carried out properly.
if your dad trusts your sis to do it if anything happened to you - then go ahead and name her - otherwise get him to think on someone he would trust to 'take over' responsibility from you.

I wouldn't ask for your wife to be made executor - in my view that's asking for trouble. it COULD look like you were co-conspiritors to outsiders, especially if they took exception to some bequests.

sussexlad2009

meritaten wrote: »

it does only need one person to be executor - but a will normally names two, sort of like an heir and spare! in reality usually one executor deals with the will/solicitor while the other just 'overseas' and signs off if satisfied the will has been carried out properly.
if your dad trusts your sis to do it if anything happened to you - then go ahead and name her - otherwise get him to think on someone he would trust to 'take over' responsibility from you.

I wouldn't ask for your wife to be made executor - in my view that's asking for trouble. it COULD look like you were co-conspiritors to outsiders, especially if they took exception to some bequests.

OK, the signs off bit concerns me but could be worked around.
I have not wanted to say this but sis has issues choices might be hard going for her and this has concerned dad.
I do however see the point of a spare as you call it and provided her hubby is still there then it might make good sense to name him as 2nd exce?

meritaten

sussexlad2009 wrote: »

OK, the signs off bit concerns me but could be worked around.
I have not wanted to say this but sis has issues such that sound financial choices might be hard going for her and this has concerned dad.
I do however see the point of a spare as you call it and provided her hubby is still there then it might make good sense to name him as 2nd exce?

what a good idea! that should appease everyone! what I meant by 'signs off' means that the solicitors (or yours) final accounting of monies paid out in debts, bequests and costs would be co-signed by the 2nd executor. in order to prove that the will was dealt with properly.