Renounce executor ?

Sazzie23

Hi all

Sorry if this has been answered previously but I had a search through the forums and can't find it.

I am a named executor, (the person is not yet deceased but nothing will change) the estate will be insolvent due to a large loan outstanding and no property etc.

I've been advise not to be executor as it's bad news on insolvent estates, which suits me due to family disfunction, however will I need to officially renounce if grant of probate isn't needed anyway due to low value?

Not a fab situation to be in, but trying to be prepared.

dzug1

I don't think you need do anything unless someone actually asks you to renounce.


Do nothing that could be construed as administering the estate

Mojisola

You can just refuse to administer the estate or you can formally renounce as executor.

Are there other executors named in the will?

Sazzie23

Mojisola wrote: »

You can just refuse to administer the estate or you can formally renounce as executor.

Are there other executors named in the will?

Oh now I think about it, it says unless xxx can't do it then xyzzy ...they won't want to know about it either. Can they just do nothing too?

Mojisola

Sazzie23 wrote: »

Oh now I think about it, it says unless xxx can't do it then xyzzy ...they won't want to know about it either. Can they just do nothing too?

If all the named executors refuse to handle the estate, then either someone else can apply for letters of administration or the estate will be left in limbo.

It's vital not to get involved with the estate at all - if you do, you won't have the option to withdraw as executor.

Sazzie23

His daughter and her mother (exDW1) want to do it - not named as executors.
I suspect they think I'm hiding some cash, but sadly I'm not, there is none. Good luck to them I say.

g6jns_2

Sazzie23 wrote: »

His daughter and her mother (exDW1) want to do it - not named as executors.
I suspect they think I'm hiding some cash, but sadly I'm not, there is none. Good luck to them I say.

Even though there is bad feeling it would be a kindness to tell them not to get involved. They also need to told of the need to avoid getting lumbered with the funeral costs and that the local authority or hospital will have to pay.

TBagpuss

does the person have mental capacity? If so, I would suggest that you tell them now that you would prefer not be an executor (you don;t have to tell them why)

If that is not possible, or if they do not change the will, then yes, you can refuse to act and can renounce provided that you do not take any steps at all to deal with the estate.

Sazzie23

g6jns wrote: »

Even though there is bad feeling it would be a kindness to tell them not to get involved. They also need to told of the need to avoid getting lumbered with the funeral costs and that the local authority or hospital will have to pay.

You are if course quite right, it would be correct to suggest to them that it might not be a good thing to do, and unpleasant of me to land them with it. However the bad feeling is such that if I opened my mouth at all they are likely to accuse me of interfering and ignore me anyway so I may as well just save myself the trouble. It is not my normal sort of behaviour and I'm not impressed with it but I can't keep putting myself out there and getting trashed for it.

I will keep this thought in mind though if I can find some way of saying it's not a good idea without making myself a target again I will.
The funeral is pre-paid for by a savings account which the family (not me) already have control of.

getmore4less

Who are the residual beneficiaries?

In the absence of willing named executors they are next in line to act.

Not much point in anyone else doing it unless they can get paid as they still have to distribute to beneficiaries.

If they want to take over then just give them all the information you have collected to determine that the estate is insolvent.
Now or when the time comes.... "Thanks for taking over here is what I know........"

Talk to xyzzy so you are in agreement.

Sazzie23

But there is nothing left to distribute.... However DD as she keeps reminding me is the next of kin and would have received a small payment had there been anything left, so it's probably down to her anyway.