EXECUTORS DUTY – APPOINTMENT UNDER A WILL

Executors Duty On Appointment ~ An individual appoints this position in his or her will. The person given the responsibility can be a professional person (or organisation) including a solicitor, accountant or a bank, a family member or a personal friend. An executors duty is to carry out the wishes of the deceased exactly in accordance with the instructions in the will which may also give that person wide powers in regards to collection and distribution of assets. The person appointed has numerous responsibilities, including collecting all of the deceased’s assets, paying debts and distributing assets to the beneficiaries of the will. In the majority of cases, the executors duty will be effectively exercised by a solicitor appointed to act on their behalf.

Importance of Wills ~ In the vast majority of cases, a person possesses assets at the time of their death. People want the comfort of knowing that those assets will be distributed according to their wishes. The best way to ensure that this happens is to visit a wills probate solicitor. The solicitor will assist you in preparing a legally binding document that clearly outlines your wishes. When preparing the will, you will also select an executor, an individual who will manage the distribution of your assets. The executors duty is to carry out the deceased’s intentions with regard to their property.

Should an individual pass away without a will, legal rules that dictate the distribution of assets will come into play. These laws help determine who is entitled to claim the deceased’s assets using a Grant of Administration through rules that carefully define the different degrees of relationships individuals have to the deceased. The Grant of Administration is a document issued by the court upon application by a person who will subsequently become administrator of the estate. An administrators duty and an executors duty are very similar in so far as they both have to collect in and subsequently distribute assets. Should there be no qualifying relative under the applicable legal rules, the Government may be able to claim all of the deceased’s assets.

Common Mistakes Made in Wills ~ The rules and regulations surrounding wills are highly complex, and executors face a multitude of arduous duties. Someone with no legal knowledge of wills can step into one of the many pitfalls that can derail their testamentary intentions. Here are some of the most common mistakes made by those who prepare their own wills:
~ Failing to properly sign and execute the will due to a lack of knowledge of the legal requirements
~ Allowing the Government to claim certain items by failing to distribute all assets in their will
~ Making alterations to their document that do not conform to the legal requirements for a binding codicil
~ Failing to take births, marriages, divorces, deaths and The Civil Partnership Act into account
~ Failing to consider the rights of dependents

Free Initial Consultation ~ Use our helpline or contact form to reach our nationwide network of solicitors who are experienced with will making, probate and grants of administration. Our solicitors can also handle contested cases where non-beneficiaries are making a claim to the estate or the validity of the will is being questioned. To receive free, no obligation legal advice about your case from one of solicitors, simply phone us on our helpline or complete the contact form.