We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Who would be executor in these circumstances
Primrose
Posts: 10,712 Forumite
Several years ago our Solicitor's firm who were executors to our wills and where our Wills were lodged, went bankrupt. Eventually another solicitor took over the wills side of their and they are now lodged there. However on deciding it was time to uodate our wills, I checked their contents and was shocked to realise the bankrupt solicitors are still named as our executors.
We obviously need to update our wills quickly and rectify this situation but what would be the position now if one or both of us were to die. . Would the solicitors who took this part of the business over be our legitimate new Executor?
We obviously need to update our wills quickly and rectify this situation but what would be the position now if one or both of us were to die. . Would the solicitors who took this part of the business over be our legitimate new Executor?
0
Comments
-
Most likely but i believe its usual for solicitors to voluntarily renounce if asked anyway.May i ask why you named a firm of solicitors as executors?Are there family issues and relatives might squabble if one or more were executors?0
-
No children. Other immediate closeSt relatives either have life threatening illnesses or would be unable to cope with the task. Also our affairs are quite complicated and we have no close friends we would wish to burden with this task.0
-
I doubt it would be much of an issue. I expect the new firm of solicitors would write to the beneficiaries, explain the issue and how they would be willing to help the beneficiaries have a new executor appointed (and I expect they would hope it was them). Provided the beneficiaries could agree on a replacement then I think it would be a simple task to have them appointed as it must be quite a common situation. (Not sure if it would need a court to rubber-stamp.) If the beneficiaries could not agree then it would presumably be for one of them to take the matter to court and the court would decide.Primrose said:Several years ago our Solicitor's firm who were executors to our wills and where our Wills were lodged, went bankrupt. Eventually another solicitor took over the wills side of their and they are now lodged there. However on deciding it was time to uodate our wills, I checked their contents and was shocked to realise the bankrupt solicitors are still named as our executors.
We obviously need to update our wills quickly and rectify this situation but what would be the position now if one or both of us were to die. . Would the solicitors who took this part of the business over be our legitimate new Executor?
I am surprised you thought solicitors could change your will without your very clear authority e.g. by asking you to sign a replacement will or possibly some other document.0 -
One option is to name the residual beneficiary with the most to lose if they employ solicitors.Primrose said:No children. Other immediate closeSt relatives either have life threatening illnesses or would be unable to cope with the task. Also our affairs are quite complicated and we have no close friends we would wish to burden with this task.
They then get the choice.
Another thing you can do is a trial run documenting administration of your own estate as notes for those left.
0 -
It would depend on how the wills were worded. If they named a firm which no longer exists then the appointment fails and the residuary beneficiaries could apply to act as executors.
If the appointment is more along the lines of 'partners for the time being of X and co or of any successor practice / partnership / company" then it *may* operate to appoint the new firm, depending on the way in which they took over the wills.
Either way, it doesn't invalidate the rest of the will.
All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards
