Wills and Executors

geffers

Folks,


Strangely unsure which group to post this in.


I am having difficulty with respect to appointing an executor for my will. I have only one person to whom I wish to leave my possessions (daughter) and don't particularly want to give her this task but no one else immediately springs to mind.


Appreciate I could pay a solicitor but I don't really want to incur unnecessary costs.


Any suggestions appreciated.


Geoff

Linton

geffers wrote: »

Folks,


Strangely unsure which group to post this in.


I am having difficulty with respect to appointing an executor for my will. I have only one person to whom I wish to leave my possessions (daughter) and don't particularly want to give her this task but no one else immediately springs to mind.


Appreciate I could pay a solicitor but I don't really want to incur unnecessary costs.


Any suggestions appreciated.


Geoff

Why would anyone other than close friends/family want to do the job if they have no stake in the process? If you do not want to use friends/family surely it is best to chose a professional. And professional do not come cheap. Or would you trust your daughters inheritance to a non professional who you do not know personally?

The real downside to using a solicitor is that they can be extremely slow.

Keep_pedalling

It is really not that difficult a task, especially if the executor is the sole beneficiary. Make her your executor, and if nessasary she can high a professional to help if she needs it.

Regardless of who the executor is, make sure you keep a document outlining wher all your money and rpinvestments are kept. Also keep a record of any gifts over your £3000 annual IHT exempt allowance you have made for the previous 7 years.

uknick

There is a section on wills etc in "Household & Travel" here;

https://forums.moneysavingexpert.com/forumdisplay.php?f=217

Mojisola

Keep_pedalling wrote: »

Regardless of who the executor is, make sure you keep a document outlining wher all your money and rpinvestments are kept. Also keep a record of any gifts over your £3000 annual IHT exempt allowance you have made for the previous 7 years.

And how to find your passwords for your on-line life.

xylophone

In these circumstances appoint your daughter.

Make it as easy as possible for her by keeping full and accurate records of your financial transactions.

Write a list (and keep it up to date) of all your assets/liabilities - store in a safe place.

Make a note of any pensions you receive/expect to receive and details of the administrators.

Inform your daughter where you keep your Will, list of assets/other papers/deeds etc.

Mojisola

Most solicitors will store your signed will for free.

You can also store it with the Probate Service -
https://www.gov.uk/government/publications/how-to-deposit-a-will-with-the-probate-service-a-guide-for-people-who-want-to-deposit-a-will-for-safekeeping-pa7