Executor Responsibilities

catandyruth

In my father's will he has appointed Barclays Bank as the executor. The estate comprises primarily of a house and shares. My sister and I are named as beneficiaries of equal share. Will it be the executors responsibility to sell the house and shares and then divide the resulting funds. If this is the case, will the Bank still need one original death certificate for each company for which shares are held or will they be able to legally certify true copies?

Yorkshireman99

catandyruth wrote: »

In my father's will he has appointed Barclays Bank as the executor. The estate comprises primarily of a house and shares. My sister and I are named as beneficiaries of equal share. Will it be the executors responsibility to sell the house and shares and then divide the resulting funds. If this is the case, will the Bank still need one original death certificate for each company for which shares are held or will they be able to legally certify true copies?

The bank will appoint a solaicitor to do all the work and so the estate will pay tow lots of fees but they will deal with everything. The bank share companies will probably naccept certfied copies from the bank.

Keep_pedalling

If you father is still alive and still has mental capacity, he should ditch the bank and make you his executor. The bank will charge an arm and leg to act as executors.

SeniorSam

Most certainly do not appoint any Bank as executors. Costs are huge and the delays reported by many are very long indeed. Far better to do it yourself if you feel confident, otherwise a single solicitor once you have agreed fees and he will deal with everything necessary. If you leave the question of fees open, it can be costly but will be handled professionally.

Depending on circumstances of your parents, if they can minimise the number of holdings, it will simplify matters. Also, if there is any chance that Inheritance Tax may be payable, then a STEP solicitor is the one to deal with, not a solicitor that has not passed the STEP qualifications as they usually know far more.

Sam

Tom99

[FONT=Verdana, sans-serif]If the shares are in a nominee account it should not matter too much how many holdings there are.[/FONT]
[FONT=Verdana, sans-serif]You might also have the option of having the shares transferred to you if that is preferable to them being sold.[/FONT]

LobsterMemory

...and if they're in certificate form, you don't need to send a death certificate at all, just notify the Registrars of the death

Will need Grant of Probate or their own service to transfer / sell them though

AnotherJoe

If your father has died, my commiserations, ask the bank if they will agree to renounce and let you two be executors. If he hasn't died, get him to change the will ASAP.