Renunciation

[Deleted User]

After an executor has signed a deed of renunciation, whose responsibility is it to find an alternative executor?

Margot123

Sorry, don't have the answer but it will be interesting to know.

Yorkshireman99

jack_pott wrote: »

After an executor has signed a deed of renunciation, whose responsibility is it to find an alternative executor?

Someone else, usually a close relative has to apply the Probate Office for letters of administratioin with the will annexed. Quite straightforward.

Keep_pedalling

The answer is no one, although it would be in the interest of the major benificiaries to take it on or appoint someone to do so.

Yorkshireman99

Keep_pedalling wrote: »

The answer is no one, although it would be in the interest of the major benificiaries to take it on or appoint someone to do so.

They can't just appoint someone. They have to do per my post #3.

[Deleted User]

So what happens if nobody wants the job?

konark

In cases where the estate is obviously insolvent the general advice is not to administer it, so executors should renounce. It would then be up to creditors to decide if there was any point becoming administrators in order to get a few pence in the pound of the money they are owed. If not the estate stays unadministered.

If there's no money the state pay for the funeral and nobody winds up the estate.

If an estate is solvent it's up to the beneficiaries to get the estate administered if they want their money/assets. If not the money stays in the bank and any property is left to rot. But no-one polices this and no third party will usually get involved unless directly affected (creditors etc).

Yorkshireman99

jack_pott wrote: »

So what happens if nobody wants the job?

What assets does the estate have?

[Deleted User]

Yorkshireman99 wrote: »

What assets does the estate have?

About £13k in cash, and contents of a 1 bed flat AFAIK.

[Deleted User]

konark wrote: »

In cases where the estate is obviously insolvent the general advice is not to administer it, so executors should renounce. It would then be up to creditors to decide if there was any point becoming administrators in order to get a few pence in the pound of the money they are owed. If not the estate stays unadministered.

If there's no money the state pay for the funeral and nobody winds up the estate.

If an estate is solvent it's up to the beneficiaries to get the estate administered if they want their money/assets. If not the money stays in the bank and any property is left to rot. But no-one polices this and no third party will usually get involved unless directly affected (creditors etc).

In this case most beneficiaries presumably want their bequests, but they're refusing to administer because third parties have been involved. In the mean time rent is eroding the estate, and the landlord wants his property vacated.