Finding an executor for my will

Keep_pedalling

FDa65rdk said:

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

That warning is really aimed at people who actually have better alternatives such as adult children, solicitors can be the best option for people in your position. You could cover an unfortunate early demise by making your parents executors with the solicitor as back-up executor.

FDa65rdk

Marcon said:

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.

Thanks.

Why would an executor need access to computer passwords?

FDa65rdk

Keep_pedalling said:

FDa65rdk said:

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

That warning is really aimed at people who actually have better alternatives such as adult children, solicitors can be the best option for people in your position. You could cover an unfortunate early demise by making your parents executors with the solicitor as back-up executor.

Thanks. With a solicitor acting as executor, can I then leave my estate to as many charities as I wish or is it simpler and more advisable to have fewer charities in mind.

Also, what are the likely fees for arranging the will?

Thanks.

Gers

FlorayG said:

Power of Attorney is still one I haven't made my mind up about; I think that will have to be a solicitor

A solicitor acting as PoA will charge for every single action / transaction they undertake. It would be a terrible and almost never-ending drain on your resources. It is a dilemma but searching for a reasonable solution would be preferable. 

FDa65rdk

What kind of questions am I likely to be asked by a solicitor after contacting one about writing my will and what information will I need to provide?

Thanks.

Cairnpapple

FDa65rdk said:

What kind of questions am I likely to be asked by a solicitor after contacting one about writing my will and what information will I need to provide?

Thanks.

The solicitor will provide a questionnaire.  An example is here but the exact details and format may be different for different firms. 
https://www.fentimans.co.uk/wp-content/uploads/2018/01/will.pdf

FDa65rdk

Cairnpapple said:

FDa65rdk said:

What kind of questions am I likely to be asked by a solicitor after contacting one about writing my will and what information will I need to provide?

Thanks.

The solicitor will provide a questionnaire.  An example is here but the exact details and format may be different for different firms. 
https://www.fentimans.co.uk/wp-content/uploads/2018/01/will.pdf

Thanks.

I've contacted a couple of solicitors.

One of them emailed me a questionnaire to fill in and send back.

Another have arranged an appointment where this can be discussed, which I would prefer to do.

Willeri

Even appointing a charity as executor if willing to do so will probably mean they employ/delegate to solicitors anyway as charities do not tend to provide in-house estate administration services, and such services don’t have to be done by solicitors anyway who do charge more than other companies.