Finding an executor for my will

FDa65rdk

Hello

I'm looking to write a will soon and know very little about the process. 

I expect to outlive my parents and I don't have any other close family.

In that case, who should I have as an executor?

Thanks

DE_612183

solicitor should do - what do intend to do with your will - leave money to charity?

FDa65rdk

DE_612183 said:

solicitor should do - what do intend to do with your will - leave money to charity?

Yes, as it stands, I'm planning to leave everything to charity.

DE_612183

FDa65rdk said:

DE_612183 said:

solicitor should do - what do intend to do with your will - leave money to charity?

Yes, as it stands, I'm planning to leave everything to charity.

Then a solicitor should do - maybe tell the charity what you intend to do as well.

RAS

If you are leaving the bulk to one charity, contact them and they agree to the role. After all, if your chosen executor(s) died or renounced, the charities would have to step in.

FDa65rdk

DE_612183 said:

solicitor should do - what do intend to do with your will - leave money to charity?

I saw this advice elsewhere on the MSE site:

WARNING! Whether you get your will from a solicitor or a will-writing service, don't assume you also have to appoint them as executors (the people who'll sort out your finances after your death). While some people do choose banks or solicitors, they often charge monstrous fees – it can be £1,000s (or more).

Is there any way of avoiding or reducing these fees? 

If this is the fee for acting as executor then is it deducted from my estate after my death?

Thanks

poppystar

In similar circumstances I have appointed a friend but I realise that that doesn’t guarantee they will outlive me, eventhough they are younger, or that their lives won’t change to a point where they can’t undertake the task. I do update my Will from time to time and that has led to changing executors in the past. I suspect in the end a solicitor will be asked to undertake the task and fees will be due. Annoying but with no close family I recognise it is a likely scenario. The suggestion of approaching the charity if there is only one involved and it’s a reasonably large one is a good idea. 

FlorayG

It's so difficult I know
I recently re-wrote my will because the executors mentioned 15 years ago are the same age as me and a good chance they will die before I do, so I changed to my cousin's ( now adult) children. I'm not terribly close to them but they are genuine people and I have left them a bequest as they offered to do the job.
Also, your executor can hand the task over to a solicitor anyway; I was my mom's sole executor but it would have meant dealing with my estranged sister in order to expedite it so I engaged a solicitor to deal with her ( this was fairly simple as she and I were the only beneficiaries)
Power of Attorney is still one I haven't made my mind up about; I think that will have to be a solicitor

km1500

you could ask the charity you are leaving the money to - it may well be that you can say 'i appoint Oxfam as my executor' for example

FDa65rdk

RAS said:

If you are leaving the bulk to one charity, contact them and they agree to the role. After all, if your chosen executor(s) died or renounced, the charities would have to step in.

I was thinking of having an even split between a number of charities.

Would that complicate things regarding an executor?

Marcon

FDa65rdk said:

RAS said:

If you are leaving the bulk to one charity, contact them and they agree to the role. After all, if your chosen executor(s) died or renounced, the charities would have to step in.

I was thinking of having an even split between a number of charities.

Would that complicate things regarding an executor?

Charities are rarely willing to act as executors for the simple reason they know zilch about the person who has appointed them as such, and quite simply don't have the resources to deal with the mess left behind if they have to hunt in the dark for all relevant facts, debts etc. Some will eg https://www.macmillan.org.uk/donate/gifts-in-wills/executor-service#:~:text=Some%20charities%20can%20act%20as,on%20this%20role%20for%20you. so worth asking.

I can't see a number of charities being thrilled to collaborate - or one charity being willing to take all the risk for just an 'even split'.

Appointing a firm of solicitors seems your best bet. You'll reduce the costs if you ensure your affairs are in excellent order and they know where to 'find' everything (including passwords for computers etc). In short, the better your record keeping, the less time they'll need to spend.