The benefit of instructing a Professional Executor
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Our team of legal experts are regularly asked to become a professional executor of our clients Wills. Combining our long term experience with our working knowledge of private client law allows us to provide a high quality service to each of our clients no matter how complex the situation. We regularly deal with all aspects the administration of the estate from contacting the beneficiaries to paying all outstanding tax liabilities.
It is often difficult from the outset of the matter to provide an exact timescale of a the administration of the estate, although as leading probate lawyers we can advise you on an estimate of the time involved and costs at the initial consultation. As you might expect, the greater the number of beneficiaries and more assets held, the more complex the distribution becomes. As leading probate lawyers, we are able to provide you with carefully tailored advice on your situation through meticulous planning and discussion with you.
One of the most important decisions when writing a Will is deciding who to appoint as an executor. Therefore, it is important to choose someone you can trust and someone who will be able to handle the legal and practical responsibilities of the role. The role of an executor can be time – consuming and complicated.
What is an Executor?
An executor of a Will is a person chosen to administer your Estate and ensuring your wishes in your will are fulfilled. Your Estate includes everything you own including money, property, and possessions. Whilst anyone can act as an executor however, choosing a professional executor to administer your Estate has many benefits. A professional executor can be your solicitor, accountant, or bank.
How many Executors should I have?
You can appoint up to four executors however, it is recommended to have at least two Executors who will be able to work together to share responsibility.
Why should I choose a Professional Executor?
The passing away of a loved one can be a very difficult time for family and friends. The burden of dealing with the estate can be a lot to handle for a grieving family member as there is a lot to manage when administering an estate. Whereas, appointing a solicitor can relieve the family from the stress and burden of dealing with the legal process. Moreover, if an estate is not dealt with correctly, executors are personally liable for any claims brought against the estate.
A professional executor will have the necessary legal knowledge and expertise needed to deal with your estate. Dealing with an estate can be a complex affair, such as sorting out the deceased’s taxes, selling a property or managing investments. Therefore, appointing a professional will ensure your estate is dealt with in an efficient and correct manner.
It is common for tensions to arise amongst friends and family members which may cause difficulties in the administration of the estate. However, a professional executor will ensure that all matters are dealt with objectively and impartially as well as in the best interests of the beneficiaries.
Choosing a family member or friend as your executor will not guarantee that they will able or willing to act at the time of your death. If they do not wish to act, the Non–Contentious Probate Rules will govern who will act as your personal representative. This may be someone you do not wish to be handling your estate therefore, appointing a professional allows you retain control as well as always having someone capable such as a solicitor’s firm, of assuming the responsibility as your executor.
The costs of appointing a professional executor may be concerning for some individuals. However, administering an estate is a complicated process and the advice of a professional executor can be invaluable.
What is the process of appointing a professional?
When you are making or updating your will, you may ask our solicitor if they or their firm will act in the capacity of an executor. They can then name themselves as the executors of your Will when drafting or updating it.
At Ansham White Solicitors, we pride our self on our customer focused approach. The founding Director, Shamim Ibrahim has 20+ years of experience in dealing with private client matters. Throughout this time, she has built up and trained a team of individuals whom maintain her high quality standard of work to ensue that our clients receive professional yet personable advice throughout their divorce.
Please call us today to arrange an initial consultation, our Wills and Probate team will be more than happy to help. We have offices based in North Harrow and the City of London which have nearby parking and good transport links. If you are calling from overseas or are unable to attend our office, we are able to conduct a video consultation via either Zoom or Microsoft Teams.