Executors

sunsetboulevard

If there are 2 executors can just one of them do all the sorting out and signing of paperwork?

The reason I'm asking is that I'm joint executor of my uncle's will along with my father. Problem is my father's at an age where he doesn't have the energy or the inclination to get involved in very much of it. He's happy to leave me to do most things which I'm fine with.

I have a few appointments with some local banks tomorrow which my father has said he will attend with me (so long as I drive him more or less to the front door of said banks). I think he only wants to go just for the ride out in the car, to be honest. So if there are 2 executors named in the will do the banks want both of us to sign the paperwork or will just my signature suffice? It's just on Wednesday one of the banks which is a long distance from where we live my father has told me to go by myself. I don't want to get all the way there only for the bank to turn round saying that my father should have been present at the meeting also to sign paperwork.

Has anyone dealt with something similar or got any experience of this? Thanks.

jonesMUFCforever

You can do all of the work but both will be expected to sign any official forms.
If he really does not want to act as an executor he can always formally withdraw.

Is the estate complicated? Is there going to be any family troubles with paying out the estate?
If it is straightforward persuade your father to go along.

sunsetboulevard

Thanks for your reply.

The estate is pretty straightforward, mainly money in bank accounts, one investment plan with Halifax and a few share holdings. Shouldn't be any family troubles with paying out the estate, we are the only beneficiaries. We're going to get any monies paid into my bank account to start with.

I don't know if it matters that DWP might owe deceased uncle some money for pension and attendance allowance and I'm the only one who signed those forms. Can't quite remember now if they asked for all executors signatures.

I will talk to father again and see if I can convince him to come to the bank that's quite a distance away. We will need to get public transport to that particular bank. The main problem is my father has a few mobility problems and although he can walk he gets tired very easily and it will be a bit much for him.

Just out of curiosity, what is the process if an executor wants to formally withdraw?

Thank you.

Keep_pedalling

Your father could renounce his powers, But he must do that before the meeting with the first bank otherwise he will be considered to have intermeddled in the estate.

https://www.justanswer.com/uk-law/2rlsd-need-precedent-letter-renounce-position-executor.html

sunsetboulevard

Thanks, Keep pedalling. Will show that form to my father and ask him what he wants to do.

bouicca21

It is also possible for an executor to reserve power - so not a full renunciation, and keeps the options open should he change his mind.

Tom99

You may only need the death certificate for the banks to start with.

Do you need probate? If so your farther can reserve or renounce executorship in Q3.7 of form PA1

eddyinfreehold

Jo101 wrote: »

Thanks for your reply.

The estate is pretty straightforward, mainly money in bank accounts, one investment plan with Halifax and a few share holdings. Shouldn't be any family troubles with paying out the estate, we are the only beneficiaries. We're going to get any monies paid into my bank account to start with.

I don't know if it matters that DWP might owe deceased uncle some money for pension and attendance allowance and I'm the only one who signed those forms. Can't quite remember now if they asked for all executors signatures.

I will talk to father again and see if I can convince him to come to the bank that's quite a distance away. We will need to get public transport to that particular bank. The main problem is my father has a few mobility problems and although he can walk he gets tired very easily and it will be a bit much for him.

Just out of curiosity, what is the process if an executor wants to formally withdraw?

Thank you.

Unless the amount is very small it is unlikely the banks will allow you to do that. When notified of the death of their client, your uncle, they are most likely to freeze the accounts. If you are not using a solicitor with a client account then ask one bank to open an estate account to deal with credits and debits. They will allow you access to it after Probate is granted. My experience is that both you and your father will require good ID, probably photo ID to deal with banks, building societies, share brokers etc. I had to renew my passport to speed things along. My brother, sister and I were all joint executors. We had to pass all documentation between us so that anything to be dealt with had all three signatures on it.

Margot123

It would be very wise for your Father to reserve power prior to becoming involved in anything to do with the estate. It will only complicate matters if he wants to pick and choose what he wants to do at a later date.
Many organisations are quite rightly concerned about executor fraud that they will insist on the signatures of all executors.

NordicNoir

eddyinfreehold wrote: »

Unless the amount is very small it is unlikely the banks will allow you to do that. When notified of the death of their client, your uncle, they are most likely to freeze the accounts. If you are not using a solicitor with a client account then ask one bank to open an estate account to deal with credits and debits. They will allow you access to it after Probate is granted. My experience is that both you and your father will require good ID, probably photo ID to deal with banks, building societies, share brokers etc. I had to renew my passport to speed things along. My brother, sister and I were all joint executors. We had to pass all documentation between us so that anything to be dealt with had all three signatures on it.

There is no legal requirement to have a specific Executors bank account. Once you have been officially appointed as the personal representative, via Probate or Letters of Adminstration, you can ask the banks etc. to make the payments to whichever account you prefer.

The are pro's and con's of course, but provided that good records are kept, there is nothing wrong with the OP's plan.

eddyinfreehold

There is no legal requirement to have a specific Executors bank account. Once you have been officially appointed as the personal representative, via Probate or Letters of Adminstration, you can ask the banks etc. to make the payments to whichever account you prefer.

The are pro's and con's of course, but provided that good records are kept, there is nothing wrong with the OP's plan

I'm sure you are absolutely correct. My experience has been that from their own viewpoint some banks will not allow that and insist upon a separate account. Presumably something to do with them being transparent and not being seen as money launderers.