I'm not executor or trustee after all

retiredandskint

My husband died 29 December 2018 and we had mirror wills and I knew I inherited everything. I also thought I was the executor and a trustee and I have been acting as such. I've just looked at the Will and it seems the solicitor who drew up the will and my son actually hold that post.

How do I a) put this right; and b) will I get into serious trouble.

I'm now worried sick.

nom_de_plume

As you inherited everything off your husband there may actually be nothing to do and so nothing to worry about.



Did your husband have any significant assets in his own name such as property (house), shares, bank accounts, etc. or was everything in joint names?



You may want to consider having your Will changed so that your son is the only named executor.

TonyMMM

If you are going to need to apply for probate, then you will have to sort out the issue - but if the banks are willing to allow access without probate (depending on balances) or if everything was held jointly, then probate may may not be needed at all.

getmore4less

What have you done so far?

If you end up needing a grant you may have to hand it over or can ask for the solicitor&son to step aside and let you get it.

retiredandskint

Thank you. We owned the house between us so that shouldn't be a problem. I was the named nominee for the main chunk of money, most of the accounts were in joint names and because my husband had dementia less than £5000 was solely in his name.

He had a small ISA (Nationwide)
Regular Saver (Nationwide)
Aviva Shares
Premium Bonds

None of which have paid out so far. The only one I haven't sent a form back for is Premium Bonds.

Good tip about changing the Executor on my Will. I had planned on updating it anyway but will probably do a DIY one.

retiredandskint

So far I've contacted Nationwide, we had a few joint accounts with them anyway, and written and sent off Aviva Shares. It was only because Premium Bonds wanted to see the Will that I noticed my mistake. My son would be more than happy to hand the executor over to me. Not sure about the solicitor he did seem 'pushy' in that I needed to make an appointment to see him.

I didn't think I needed to do Probate.

TonyMMM

Share registrars will almost always require you to apply for probate.

NS&I will require it if he had more than £5000 of bonds, otherwise your son could deal with them.

retiredandskint

The shares are probably only worth around £500 and Premium Bonds £190. So not vast sums of money.

TBagpuss

Don't worry. For the joint accounts you don't need probate as they pass automatically to you any way.

Normally, if banks let you have money without needing to see probate (for an account in his sole name) they would ask you to sign something to say you are entitled and will reimburse them if someone with a better claim shows up. In this case, you are the beneficiary even if you are not the executor, so no one would have lost anything they were entitled to, although if there were no other assets you might need to us those funds to pay funeral costs.

Most solicitors will, if requested to do so 'renounce'' their role as executor, although they may make a charge for drawing up and executing the necessary paperwork.

retiredandskint

I've paid all expenses and funeral costs myself so no-one else will be out of pocket.

Marcon

retiredandskint wrote: »

Not sure about the solicitor he did seem 'pushy' in that I needed to make an appointment to see him.

There's nothing 'pushy' about ensuring that he is available and has the necessary time to talk to you properly. Sounds more like a courtesy.