Choosing Executors For Your Will
One of the first things that needs to be decided when making a Will is who you would like to appoint as your Executors.
Executors are the people you choose to carry out the wishes you have for the distribution of your estate, once you die.
Depending on the size of your estate there will be a number of duties that your Executors are required to carry out in order to legally fulfil their obligations.
For example registering the death, arranging the funeral if not already taken care of via a prepaid funeral plan and dealing with the financial matters of the deceased including making any returns to HMRC
Thinking carefully about who you want to appoint as your executors are very important and you should not make this decision lightly.
You should only choose to appoint people that you feel you could trust to effectively carry out their responsibilities. It is advisable to discuss with your preferred Executors your wish for them to act and make sure they are happy to do this for you.
Couples making Mirror Will’s often choose to appoint each other as their main Executor, whilst also appointing Reserve Executors who are required to act only if the main Executor is either unwilling to unable to act.
For a single person making a Will, I would recommend appointing a minimum of two Executors, but no more than four. A Beneficiary of your Will can also be an Executor, providing they are the legal age to do so.
If you do not have anyone you feel you can personally trust to carry out the wishes of your Will and their obligations as an Executor then you could choose to nominate a professional Executor in your Will.
Professional executors such as solicitors and probate companies can take on the responsibility of the administration of your estate as soon as they are notified of your death.
One of the benefits of choosing a professional Executor is that they deal with these matters on a daily basis, so you can be confident that your estate will be dealt with in the correct way.
If you do decide to choose a professional executor, make sure you get in writing their terms of business and what the maximum percentage of your estate value they will charge for their services.