Can we renounce Executor responsibilities?

fcandmp

Hi I hope forum members might be able to help with the first of what are likely to be a number of questions about my father-in-law's estate, who sadly passed away last week.

My wife and her two siblings have been named as joint executors in the will, and wondered whether if one or more did not want this responsibility how/if it can be renounced, and if so what the process for doing this might be?

Many thanks

getmore4less

https://www.gov.uk/wills-probate-inheritance/applying-for-a-grant-of-representation

Get ahold of the probate form PA1 and the notes that go with them it explains the options.

http://hmctsformfinder.justice.gov.uk/HMCTS/GetForm.do?court_forms_id=735

you might as well gte IHT205 and possibly IHT400(set) you can down load or get a set from any probate office(mine has them at reception for people to take).


https://www.gov.uk/government/collections/inheritance-tax-forms


For various reasons it may be better to consider "power reserved" as it helps to have backups in case those doing it become unable to continue

Savvy_Sue

Yes, any of the executors can do one of two things: renounce the executorship and not get involved at all, or go for 'power reserved'.

Generally, it's probably better to go for 'power reserved', which means that whoever's left can just crack on without having to get everyone to sign and agree to everything, BUT it does mean that if you want to get involved again you can.

A quick phone call to a local probate office should get you more details.

Yorkshireman99

fcandmp wrote: »

Hi I hope forum members might be able to help with the first of what are likely to be a number of questions about my father-in-law's estate, who sadly passed away last week.

My wife and her two siblings have been named as joint executors in the will, and wondered whether if one or more did not want this responsibility how/if it can be renounced, and if so what the process for doing this might be?

Many thanks

Only one point to add which is that executors can only resign if they have not acted in that role. So if any of them don't want to act they need to take action promptly.

fcandmp

yorkshireman99, thank you. Can you elaborate on what promptly means? We are very early days since father-in-lAw's untimely death, so is this a first few days thing or first weeks?

Mojisola

fcandmp wrote: »

yorkshireman99, thank you. Can you elaborate on what promptly means? We are very early days since father-in-lAw's untimely death, so is this a first few days thing or first weeks?

It's not a matter of time but whether they have taken any action as an executor.

getmore4less

even then a lot of things you tend to do early don't count (like funeral, moving stuff from a house for save keeping, making enquiries about assets) and as long as one of the named executors takes on the responsibility(and liability if something had been done wrong) there is usualy no problem with a power reserved and continue helping out if that's whats wanted.

Yorkshireman99

fcandmp wrote: »

yorkshireman99, thank you. Can you elaborate on what promptly means? We are very early days since father-in-lAw's untimely death, so is this a first few days thing or first weeks?

Others have answered. Just take it day by day and ask here if you need any help. Read the stickies at the behin of this thread as well. Use the Tell us once service.

PasturesNew

Three of us were named. It makes no sense for more than one person to do it. So one did it. As part of the process they just had to sign the form to say it was OK with the other two ..... simple as that.

It's been done/simplified to this in the last couple of years.

The one we'd done before, the other executors had to write a letter/sign to give it up.

Now the onus is on the one doing it to sign/declare (alone) that it's OK.

The one doing it could have banked the money and been in South America by now as there's no notification to the others that one's signed and doing it.