Appointing a Professional as an Executor

RHemmings

After a sizeable inheritance, and looking forward to my upcoming marriage, I wish to make a will. I don't have one right now. 

I've got the division of assets clear in my head, and that's no problem. But, the largest amount of my inheritance will go to my son, but I feel he's not ready to be an executor. My fiancee is from overseas, and again I feel I don't want to put it on her either. At least not yet (for both). 

I'm thinking of appointing a company as executors, such as the Coop. I'd obtain a quote from them first. I'm aware that they will charge for their services, but I think a reduced inheritance is better if it avoids a mess. 

I'm thinking that this won't be my final will, but I want something in place in the interim. Hopefully only for a couple of years or so.

Does anyone have any advice for me, or would anyone be generous enough to share their experiences? 

Flugelhorn

I would just put your son or your wife , if they want to get professional help at the time (which they may or may not need) they can get it then - if you include a company in the will then they may insist on doing it, may charge ££ and can be incredibly slow - they are plenty of people who come on here stating that their relative put a solicitor or company as exec and that they feel they could handle the estate themselves and now need to get the company to renounce 

RHemmings

Thanks. I will ask them. But, I must admit that I'm concerned about leaving a very big task for them to handle. 

Devongardener

Are you thinking of making your will before your marriage?  It will be invalid once you are married and you’d need to make another.

RHemmings

Devongardener said:

Are you thinking of making your will before your marriage?  It will be invalid once you are married and you’d need to make another.

Yes, even if it's just for a few months, I would prefer a will now, and another after marriage. 

RAS

If you name your son, it's easy for him to ask a legal firm to actually do the probate, and a lot cheaper than appointing that firm as executors. Just brief him.

Malthusian

If the task is too big for them the executor can appoint their own choice of solicitor at the time. This has all the advantages of appointing a solicitor in a Will except one, and makes them much less vulnerable to delays and overcharging because they can shop around and sack the solicitor at any time. 

Have you discussed your plans with your son and/or fiancée? You could just tell them that you plan to appoint him / her / them as executors and explain the process to follow if they don't want to handle the estate themselves.

Is the problem that you don't feel they have the time / wherewithal to administer an estate, or that you don't trust either to not try to disinherit the other? (The latter scenario is the only potential advantage of appointing solicitors in the Will.)

Bear in mind that on your death, your wife and your son could ask the solicitors to step down anyway, and they would have to do so unless there was a good reason not to. (Richman v WAG Davidson.)

p00hsticks

Devongardener said:

Are you thinking of making your will before your marriage?  It will be invalid once you are married and you’d need to make another.

I'd double check with the solicitor drafting the will, but my laymans understanding is that if a will is made 'in contemplation of marriage' then it remains valid after the marriage takes place. 

Tiglet2

p00hsticks said:

Devongardener said:

Are you thinking of making your will before your marriage?  It will be invalid once you are married and you’d need to make another.

I'd double check with the solicitor drafting the will, but my laymans understanding is that if a will is made 'in contemplation of marriage' then it remains valid after the marriage takes place. 

Yes, we had a Will drafted in "contemplation of marriage", so it's still relevant today - 8 years after we married!

Misslayed

p00hsticks said:

Devongardener said:

Are you thinking of making your will before your marriage?  It will be invalid once you are married and you’d need to make another.

I'd double check with the solicitor drafting the will, but my laymans understanding is that if a will is made 'in contemplation of marriage' then it remains valid after the marriage takes place. 

We made our wills with a solicitor shortly before our wedding, they included that phrase. 

Tiglet2

OP, please don't put the Co-op or similar as Executor of your Will.  When the time comes, if you have named your son/wife to be Executor, they can always appoint a solicitor to act on their behalf, if they feel the task is too much for them to handle.

My aunt appointed a probate solicitor as Executor of her estate, back when she did her Will in 2016.  She died in June 2023 and the solicitor got probate granted in December 2023.  We are still waiting for the solicitor to distribute the estate as they are waiting for any creditors to come out of the woodwork and to settle any debts.  We get no information from them about likely timescales.  The estate is simple, an excepted estate, one main beneficiary and several residual beneficiaries.  Although a few of us were more than capable of carrying out the administration of her estate, we have had to use this solicitor as they were the named Executor and they refused to renounce.  This particular solicitor has actually retired and no longer practices, but rather than hand it to whatever company took over the files, he is doing it himself.  He is charging around £15,000 for his "services".