Step Down as Executor - Testator Still Alive (and well)!

Placitasgirl

Some years ago I agreed to act as Executor and Power of Attorney (Property and Financial Affairs) for my Aunt. The LPA was registered some years ago with the OPG. 

For personal reasons I wish to step down from both roles as quickly as possible. My Aunt is 77 and in good health and aware that my husband has a life limiting condition and is in very poor health. We've just received a prognosis of 1 year, possibly 18 months life expectancy and having just retired wish to make the most of the time he has. I am Executor/LPA for my Father and another relative whose affairs are straightforward (both are in care homes with no assets) whereas my Aunt would have a home to sell and some complicated financial and family affairs and I simply don't feel I could devote the time and care needed to act in these capacities any longer. 

I know that I would need to complete form LPA005 and provide copies to my Aunt and the OPG, but advice online regarding standing down as Executor all seems to relate to the Testator having passed away, which is not the case here.  I see that a Deed of Renunciation must be completed and filed with the Probate Registry if the Testator had died, but can anyone outline the process to follow when the Testator is alive and well?  Or do I simply confirm to her in writing that I wish to step down as her sole Executor and have this document independently witnessed? 

My Aunt had suggested that if the point came where I needed to step down she would understand, but I appreciate that this is not an ideal situation and wish to reassure her that everything has been done correctly..... she's very much a "worrywort" and this is not a decision I have taken lightly. 

Thank you in advance for any guidance/advice/information you can provide. 

Keep_pedalling

Are you the sole attorney and executor? If you are she will need replacements which will mean a new LPA, and at least a codicil written for the will, you can’t renounce in advance if her death. 

Placitasgirl

Thank you Keep_pedalling. Yes, I'm the sole Attorney and Executor. My Aunt has a daughter who is an only child who will need to step in as Executor. I appreciate your time and help. 

Keep_pedalling

Placitasgirl said:

Thank you Keep_pedalling. Yes, I'm the sole Attorney and Executor. My Aunt has a daughter who is an only child who will need to step in as Executor. I appreciate your time and help. 

Could her child take on the LPA role as well? If she can then your aunt should make a new LPA asap.

Flugelhorn

Placitasgirl said:

Thank you Keep_pedalling. Yes, I'm the sole Attorney and Executor. My Aunt has a daughter who is an only child who will need to step in as Executor. I appreciate your time and help. 

Aunt could do codicil or new will 

Placitasgirl

I'm so glad you asked that question Keep_pedalling. I've just pulled out the LPA and see that my cousin is in fact also an Attorney, so presumably I can simply disclaim my role as Attorney. 

TBagpuss

You don't need anything signed, just tell your aunt you can no longer agree to act as executor and then it's up to her to update her will. 
If she fails to do so then if, when she dies, you still feel unable to act, you would renounce at that stage .

I'm sorry you are in this position, best wishes for your husband. 

Marcon

Placitasgirl said:

Some years ago I agreed to act as Executor and Power of Attorney (Property and Financial Affairs) for my Aunt. The LPA was registered some years ago with the OPG. 

For personal reasons I wish to step down from both roles as quickly as possible. My Aunt is 77 and in good health and aware that my husband has a life limiting condition and is in very poor health. We've just received a prognosis of 1 year, possibly 18 months life expectancy and having just retired wish to make the most of the time he has. I am Executor/LPA for my Father and another relative whose affairs are straightforward (both are in care homes with no assets) whereas my Aunt would have a home to sell and some complicated financial and family affairs and I simply don't feel I could devote the time and care needed to act in these capacities any longer. 

I know that I would need to complete form LPA005 and provide copies to my Aunt and the OPG, but advice online regarding standing down as Executor all seems to relate to the Testator having passed away, which is not the case here.  I see that a Deed of Renunciation must be completed and filed with the Probate Registry if the Testator had died, but can anyone outline the process to follow when the Testator is alive and well?  Or do I simply confirm to her in writing that I wish to step down as her sole Executor and have this document independently witnessed? 

My Aunt had suggested that if the point came where I needed to step down she would understand, but I appreciate that this is not an ideal situation and wish to reassure her that everything has been done correctly..... she's very much a "worrywort" and this is not a decision I have taken lightly. 

Thank you in advance for any guidance/advice/information you can provide. 

Probably the best way to give your aunt, and you, peace of mind is to suggest she makes a new will through a solicitor. Sadly, you've got far more immediate matters to worry about and deal with.

Placitasgirl

Thank you all; it's been incredibly difficult to come to this decision, but as you say, more immediate matters have to take my time, focus and priority at the moment. I know my Aunt will be upset but will understand why I've had to make this decision. I appreciate your time, help and kindness. 

poppystar

If aunt is fit and well then I’d suggest a letter to her to explain your situation then forget about it. She can then decide on her best course of action. If anything does happen to her then you can renounce then or your cousin can do any attorney work. You have more important use of your time now. Best wishes

Placitasgirl

Just wanted to pop in and update to close this thread. I met with my Aunt yesterday and the meeting went very well. I have completed form LPA005 and sent to the OPG as I do wish to "formally" step down now for peace of mind. I have suggested my aunt make a codicil to her will naming a replacement Executor, but have left a letter explaining that I am unable/unwilling to act in that capacity and it's stored with her will. 

Thank you for your time, help and reassurance which was very much appreciated.