An executor is appointed in a will to carry out the will maker’s wishes. This will usually involve:
- Arranging the funeral
- Identifying & protecting your assets
- Obtaining a grant of probate
- Paying your debts & taxes; and
- Distributing the estate to your nominated beneficiaries
Usually this task is allocated to a spouse, child or friend of the will maker. Most people have no experience in administering an estate and may only be called upon once in their lifetime to do so. Most executors will engage a lawyer to guide them through the process, which involves personal liability if they get it wrong.
When making a will, consideration should be given to appointing a solicitor as your executor. The benefits include:
- Avoiding the distress that the process could cause to your family or friend
- Administration of the estate will run quickly and smoothly because a solicitor knows what to do
- A solicitor is independent
- It will assist in avoiding conflict amongst family members
- A solicitor can defend the will against claims on the estate
- A solicitor is experienced and is less expensive than a trustee company
Your will passes everything you own to your family, dependents, friends or charities. You will have peace of mind that the process is being carried out according to law in a professional and efficient manner. This will ultimately benefit your beneficiaries.