Renouncing executor duties

paddy's_mum

spamhater wrote: »

Several charities will receive the lions share of the estate which I'm sure will be most appreciated

Betcha it won't be "most appreciated" by the aforesaid family members!

Don't you just love natural justice?

SeniorSam

Alls well that ends well. Your dear friend had obviously thought things through very carefully and created his Will accordingly. It seems that justdeserts' will be appropriately gifted by the accepting executor. Good luck

Sam

GaleSF63

He knew what he was doing, didn't he? I'm glad it is going to be sorted to your satisfaction and your friend's. Enjoy your legacy.

G6JNS

spamhater wrote: »

Thank you all for your advice. I have quite a bit to update on so here goes.

Those of you who pointed out that I should open the will were of course taking the sensible approach. I Was so panicked, particularly by the family threats, that I wasn't thinking logically.

So, reassured that I wasn't committing myself to any further action, I opened the envelope said to contain the will. It did indeed, and a further letter addressed to me (dated prior to the accompanying separate letter). It stated that I had been named executor however should I not be able to carry out my duties or not wish to take them on there was provision for this in the will.
Thankfully within the will an "alternative" executor was named. This person, whom I met once at a social event held by the deceased an number of years ago, is not a family member.

I have since contacted this individual (which wasn't the quickest thing to achieve) and they are willing to take on the role. They were fully aware of the will, my nomination as executor and their role if required. They also had a copy of the will. This is a retired person whom I have no doubt will carry things out exactly as they should be. I believe they are also well aware of the attitude of the family members without much input from me.

I will be passing the house key to them to handle things from this point on.
I have yet to download the formal template to renounce my role as executor. I should be able to do so tomorrow and fill them out. I've been run off my feet with work or it would have been done yesterday.

I haven't advised the family of this so, as I've missed their deadline, I imagine a solicitors letter will be winging its way to me anytime. I will formally respond to them however it will be once I have attended to everything else, they are not my priority.

And to those that suggested I may be a beneficiary, I am - by way of a few very specific items, as is the replacement executor. This was unexpected and is a much appreciated gesture. The family are also beneficiaries although perhaps to a significantly lesser extent than they are anticipating. Several charities will receive the lions share of the estate which I'm sure will be most appreciated.

Once again thanks to those who took the time to respond. On re-reading my posts Im embarrassed by how much of a drama llama I was. Nothing like something unexpected to cause a stir:)

You might want to consider reserving power as executor in case the other executor dies or becomes incapacitated.

Marktheshark

At the moment you are only nominated, so there is nothing to renounce.
The one that applies for probate is the executor.

Best decision really, those saying you should do it have obliviously never done it and are unaware of the months of hard work with blood glaring realtives turning up at your door with pitch forks wanting your blood for stealing their money.
Unless your on the windfall end and need ta maximise the payout, someone else gets the dirty job.
If they dont want to do it, those listed as benefactors have next pop at apply to be executor.
The responsibilities where large amounts of money are involved are huge and you can even be jailed for making a mistake, all this for nothing.
Away and let someone else do it, or someone else after them.
The relatives already think you are having them over so nothing to lose and your sanity and stress levels to gain.

g6jns_2

Marktheshark wrote: »

At the moment you are only nominated, so there is nothing to renounce.
The one that applies for probate is the executor.

Best decision really, those saying you should do it have obliviously never done it and are unaware of the months of hard work with blood glaring realtives turning up at your door with pitch forks wanting your blood for stealing their money.
Unless your on the windfall end and need ta maximise the payout, someone else gets the dirty job.
If they dont want to do it, those listed as benefactors have next pop at apply to be executor.
The responsibilities where large amounts of money are involved are huge and you can even be jailed for making a mistake, all this for nothing.
Away and let someone else do it, or someone else after them.
The relatives already think you are having them over so nothing to lose and your sanity and stress levels to gain.

Read the OP's post again! He is the executor unless he chooses to renounce.

Marktheshark

Unless I have missed the bit where he says I have filed for probate, I apologise if i have, he is not the executor, just someone Nominated the position.
I could Nominate You as mine, it does not make you executor.
A nominated person can just refuse to act up until the point of applying for grant of probate.
There is nothing to renounce until the forms of declaration are signed.
If he has not applied for probate, the do nothing option remains on the table.

Keep_pedalling

I'm really glad you took the advice to open the will before you made a final decision, and that it has worked out well for you. Later down the line you may have had regrets in not opening it, and felt guilty about not carrying out your friend's wishes (even though he had failed to ask you before he had the will drawn up) now you can sleep easy knowing everything is in the right hands.

Tuesday_Tenor

Marktheshark wrote: »

At the moment you are only nominated, so there is nothing to renounce.
The one that applies for probate is the executor.
.

Slightly misleading, as both are named as executors in the will, and the OP WILL formally have to renounce, but it is a simple matter.

The other executor will complete the PA1 form, on which the OP will be accounted for as a renouncing executor. OP will also have to put this renunciation in writing in a letter to the other executor, and this letter will need to accompany the PA 1 form.

See PA1 form and the PA2 guidance notes.

g6jns_2

Tuesday_Tenor wrote: »

Slightly misleading, as both are named as executors in the will, and the OP WILL formally have to renounce, but it is a simple matter.

The other executor will complete the PA1 form, on which the OP will be accounted for as a renouncing executor. OP will also have to put this renunciation in writing in a letter to the other executor, and this letter will need to accompany the PA 1 form.

See PA1 form and the PA2 guidance notes.

Under the circumstances the OP might want to consider reserving his powers as executor in case of anything happening to the other.