Can I change the Executor on my Mum's will?

deputy_sj

My Mum had a stroke in 2020 which has left her without mental capacity to manage her financial affairs.  My sister & I have been appointed as Deputies by the Court of Protection.

We recently discovered that my Mum's Will has a high-street bank named as Executor - it was made 35+ years ago and has not been updated since.  There is a significant % charged by the high-street bank to act as Executor (from memory, I believe it is ~15% or more) which we would seek to avoid if possible.

As Deputies, are we able to request an update to the Executor named on the Will, from the high-street bank to a friend/family member?  No other changes would be requested.

Thanks in advance. 

theoretica

No, as deputies you cannot change her will.  However, after her death, the beneficiaries of her will may ask the bank to step down as executor and most will agree to do so with only a paperwork charge for that.

deputy_sj

theoretica said:

No, as deputies you cannot change her will.  However, after her death, the beneficiaries of her will may ask the bank to step down as executor and most will agree to do so with only a paperwork charge for that.

Thank you very much - that is really useful to know

elsien

As above.
 Plus for your role as deputy you need to consider what your mother would have done when she had capacity,  in considering her best interests.
When she had capacity, for whatever reason she chose the solicitors rather than family and friends.
Changing the executor doesn’t benefit her in anyway at all, only the beneficiaries, So again, even if it was possible,  I don’t see how you would argue that something that won’t impact  her would need to be changed in her best interests.

Approach the solicitor when the will needs to be dealt with and ask them to stand down.

PeterE17

I don't think you can change the executor. However, if Mum's current state of health and circumstance mean that her Will is no longer in her best interest, you could apply to the Court of Protection for a Statutory Will. 

My example: my mother had to move to a care home, funded by the house sale. In her Will my siblings and I were to inherit her house, her grandchildren were to inherit her money. The sale of the house disinherited my siblings and I so the Will no longer expressed her wishes (and therefore was not in her best interest). We applied for a Statutory Will, explaining the situation truthfully, and our request was granted. We kept the same executors though but could have changed them if necessary. 

Good luck.  

deputy_sj

elsien said:

As above.
 Plus for your role as deputy you need to consider what your mother would have done when she had capacity,  in considering her best interests.
When she had capacity, for whatever reason she chose the solicitors rather than family and friends.
Changing the executor doesn’t benefit her in anyway at all, only the beneficiaries, So again, even if it was possible,  I don’t see how you would argue that something that won’t impact  her would need to be changed in her best interests.

Approach the solicitor when the will needs to be dealt with and ask them to stand down.

Many thanks for your response.  The will was written over 35yrs ago at the same time as my Father's will - he has since updated his & through that process became aware of the % charges applied by the high-street bank & subsequently changed his Executor.  I don't believe my Mum would even have been aware of the % charge at the time of her stroke.

Today, I firmly believe that my Mum would have the same opinion as my Dad & would prefer the majority of their (modest) estate to benefit either him or their 5 children instead of a significant % being paid to the high-street bank.

Sea_Shell

PeterE17 said:

I don't think you can change the executor. However, if Mum's current state of health and circumstance mean that her Will is no longer in her best interest, you could apply to the Court of Protection for a Statutory Will. 

My example: my mother had to move to a care home, funded by the house sale. In her Will my siblings and I were to inherit her house, her grandchildren were to inherit her money. The sale of the house disinherited my siblings and I so the Will no longer expressed her wishes (and therefore was not in her best interest). We applied for a Statutory Will, explaining the situation truthfully, and our request was granted. We kept the same executors though but could have changed them if necessary. 

Good luck.  

I never knew that was possible!!😲

Thanks.

Our family have been caught out by a similar scenario ☹️ 

Keep_pedalling

It used to be quite common for banks  to be appointed as executors but it was always the most expensive option.  I don’t think any bank offers this service anymore and you should find that there will be no issue to getting them to renounce although they may charge a fee for the paperwork

Unfortunately people make wills and never change them when they should such as when their children become adults or when IHT laws change. 

H657

My fathers will made in 1971 named his bank as executor. When he died in 2015 & we realised they charged a significant fee, I asked them to step down which they did with no problem. The bereavement team were really helpful & liaised with the bank’s probate dept.
 There was a fee of £96 + vat to be paid for the Form of Renunciation they provided me with (I think because they had to register it?) & I had to submit it along with the will when I applied for probate.
Saved about £5k from memory - for what was a very simple estate (house & £30k savings)

deputy_sj

Thank you all very much for taking the time to respond, your advice is greatly appreciated! 

Flugelhorn

deputy_sj said:

elsien said:

As above.
 Plus for your role as deputy you need to consider what your mother would have done when she had capacity,  in considering her best interests.
When she had capacity, for whatever reason she chose the solicitors rather than family and friends.
Changing the executor doesn’t benefit her in anyway at all, only the beneficiaries, So again, even if it was possible,  I don’t see how you would argue that something that won’t impact  her would need to be changed in her best interests.

Approach the solicitor when the will needs to be dealt with and ask them to stand down.

Many thanks for your response.  The will was written over 35yrs ago at the same time as my Father's will - he has since updated his & through that process became aware of the % charges applied by the high-street bank & subsequently changed his Executor.  I don't believe my Mum would even have been aware of the % charge at the time of her stroke.

Today, I firmly believe that my Mum would have the same opinion as my Dad & would prefer the majority of their (modest) estate to benefit either him or their 5 children instead of a significant % being paid to the high-street bank.

It may not be an issue if Mum predeceases Dad -presume she has left everything to him and then to children if he died first? You may not need probate for the first death anyway in that case.