What happens if both executors renounce?

mesg

Hi,
My ex died last year leaving his solicitor and adult daughter from 1st marriage as executors. I have a 15 year old.

It's a long story, which doesn't need telling here, but both parties renounced as executors. 

At the back of my mind this still bothers me...

If there are no executors...what happens?

Are there any longer term implications for my child?

FatherTireseus

I'm a bit surprised a solicitor has renounced an executor role as it means fees for them but hey ho.

If both executors have renounced (and this needs to be a formal Deed of Renouncement, witnessed by an independent person) then someone else will need to be found to act as executor. Who are the beneficiaries of the will? Is there a capable adult who is a beneficiary who would be prepared to act? Otherwise you might be looking at appointing another solicitor to act as executor but that will come at a cost.  But if a person isn't named in the will as executor, an application would need to be made to court before they could start administering the estate. 

Whoever is appointed as executor would need to execute the will as written.  So I don't see how that would affect your daughter, assuming she is a beneficiary.   If she is 15 and if she is a beneficiary in the will I would expect that any legacy would need to be held in trust for her until she is 18, although sometimes a later age is specified.

Martin_the_Unjust

It depends on what assets your ex had. 

If there was not enough to cover funeral costs etc etc then you really don’t want to get involved.

Keep_pedalling

It sounds like the estate was so small there would have been no money to pay the solicitor’s costs, I cant think of any other reason a solicitor would renounce without being requested to do so.

Edit -

A small cash estate without property can usually be wound up without applying for probate, but if his estate is insolvent then everyone should steal we’ll clear from taking on the responsibility.

This will nett affect your son’s bond or the payment from his pension neither of which form part of his estate.

RAS

Reading between the lines in your other post, your ex was in rented accommodation? And didn't earn a lot?

So it is unlikely that probate would even be needed, as there was no property to sell, and most bank and building societies will release quite large sums with sight of the death certificate and will. 

If the estate is insolvent (more debts than assets), then the executors would be advised to renounce and leave it to any creditor who wished to sort out the estate. Creditors rarely do this as there is a lot of work for minimal gain.

TBagpuss

If there are no executors then someone else can apply for probate - normally this would be the main / residuary beneficiary/beneficiary.

If your daughter is the beneficiary then because she is under 18 2 executors are needed .

It may be that the estate is insolvent so no one is willing to take on the job of administration.
Do you know why the executors renounced? 

mesg

Sorry for late reply, been a tiring few weeks because:reasons and I couldn't get back to this.

Long story short.

Landlord gave month's notice. I found out they had a new contract with ex so I was no longer guarantor (a relief)

Ex's adult daughter and solicitor (executor) met at house April 2020. 
The Daughter told me was advised to take valuables for 'safekeeping' until the probate was sorted. Told me they would keep anything my child asked for, he asked for 5 specific things.

Daughter kept in touch re: funeral arrangements.

6 weeks after ex died landlord asked me how to contact daughter as they still hadn't been to clear house.

10 weeks after ex died, the solicitor contacts me- landlord has taken possession of house, if I want mementos (photos) contact them. By then it's too late, house cleared including my kid's own stuff.

Found out from landlord that daughter never returned to house, they renounced in April after discovering that the entire estate had been left to my child. Took all valuables with them. (I managed to get back the 5 items after agreeing to pay for a courier, well aware I could have gone further as everything they took was technically my kid's, but life's too short)

August 2020 solicitor finally confirmed estate was left to my child. Renounced.

My ex was very careful with money but was on a low income. The actions of the daughter and husband meant that the landlord (who is a decent bloke) lost money. He did have savings accounts. I do wonder what happened, but again, life's too short.

(Fortunately he gave us the info for the savings bond in my child's name as he was poorly just as Covid began, and the pension fund people were tenacious in finding my child)

I'm happy to leave it at that, as long as there's definitely no comeback for my 15 year old in the future. 

I was also curious to know - is there a mechanism for winding down an estate if there is no one willing to do so?

Thanks for replying

elsien

A relative died several years ago. Both executors renounced. No one else took on the job. They had no money but did have a property. Property is still sitting there in relative’s name occupied by one of the beneficiaries.  No official body has asked any questions.

So in our case, the answer seems to be that it will stay unresolved until all the beneficiary agree a strategy for the property, at which point one of them will have to take the initiative to get the ball rolling.  

Keep_pedalling

As your ex had left everything to your child he really should have appointed you as his executor, not someone he had disinherited which is just asking for trouble.

getmore4less

elsien said:

A relative died several years ago. Both executors renounced. No one else took on the job. They had no money but did have a property. Property is still sitting there in relative’s name occupied by one of the beneficiaries.  No official body has asked any questions.

So in our case, the answer seems to be that it will stay unresolved until all the beneficiary agree a strategy for the property, at which point one of them will have to take the initiative to get the ball rolling.  

There is no official body that has any interest in the process of administration of estates unless someone does something.


HMRC can get involved when they sniff tax but even then that often needs a trigger event.

newbiechuck

I know this is an old post but hoping someone will pick it up?  I understand if the sole executor renounces his power the job goes to one or more of the beneficiaries in the Will but what if that sole executor is the main beneficiary?  There are other beneficiaries mentioned in the Will but they only benefit if the sole executor predeceases the testator, not if he doesn't want to act.  Would the responsibility pass to the potential beneficiaries or have to use a solicitor?