Nominating Executors

DCFC79

paddy's_mum wrote: »

Bear in mind that if you pop your clogs and your husband marries again, there may not be any "everything" left to give.

Genuine question but possibly a stupid one.

Can the OP do anything to prevent that or not ?

paddy's_mum

Yes, there is and the principal one is to own the family home (assuming there is one) as tenants in common whereby each spouse owns their own half, in their own right.

That means that upon a death, the property does not pass automatically to the surviving spouse but is dealt with via the deceased person's will. In the OP's case, it would go to her two daughters.

A good solicitor will earn his fees by explaining the many other ways to safeguard assets, rights and inheritance outcomes, without disadvantaging either spouse.

Fire_Fox

rhonaj wrote: »

I am in the process of making a will for myself and my husband. It's a simple will, leaving everything to each other and when we both go splitting everything equally between our two daughters. The solicitor is recommending using them as executors, but I was going to make our daughters joint executors. I don't know if it is a money making thing by the solicitors or not. So, do I take all the work away from my daughters and let the solicitors do it, or do I save them money and allow them to do it. I have had no experience of any of this so any advice would be appreciated

You can minimise the work for the executors by having simple wills thoughtfully worded to eliminate controversy or disagreement**. Plus setting up Lasting Power of Attorneys. Plus getting everything in order well ahead of time: amalgamate savings/ pension plans/ debts/ lines of credit, clear filing system at home.

**For example liquidise assets then divide proceeds, rather than any property becoming jointly owned by your daughters.

[Deleted User]

Do your daughters get on, and will be OK as joint executors? Having just read this thread https://forums.moneysavingexpert.com/discussion/6048343/gaining-access-to-the-estate-info it might be an idea to have a trusted family friend as executor - one that will not charge of course. I was executor for a family where the siblings were estranged from each other by the time their father died. Not sure how it would have panned out, if both siblings had been joint executors, particularly as one sibling was more dominant.

bouicca21

My two are my executors. I would be horrified at the thought of appointing a solicitor to do a simple job, largely because the first time I ever got involved in probate the solicitor who did the job was mega expensive, and very slow. I’ve always done it myself since.

The only thing I worried about was whether to put a clause in my will insisting that my flat be sold. I thought that would obviate any potential quarrels, but when asked they both said such a clause was unnecessary.