When to appoint a professional Executor in your Will

One of the key decisions you'll need to make when preparing your Will is choosing an executor or executors. An executor is responsible for administering your estate, ensuring that your assets are distributed according to your wishes, and handling any outstanding debts or taxes.

Whilst many people choose family members or close friends to act as executors, there are circumstances where appointing a professional executor may be more appropriate. This could be your solicitor, accountant or financial advisor, for example.

Whilst anyone can appoint a professional executor, the following circumstances make it particularly important that this option is considered:

• Complex Estate: If your estate is complex, with multiple assets, investments, or business interests, a professional executor may be better equipped to manage and distribute your estate effectively. They have the expertise to navigate the complexities and ensure that all legal and tax obligations are met.

• Potential Conflicts: If there's a possibility of disputes or conflicts arising among beneficiaries or family members, appointing a neutral professional executor can help to mitigate these issues. They should act impartially and ensure that decisions are made in the best interests of the estate. Having an independent executor can also protect the relationships between the beneficiaries, as any unpopular decisions are made by a third party rather than family members or friends.

• Lack of Suitable Family or Friends: Not everyone has family members or friends who are willing or capable of taking on the responsibilities of an executor. In these circumstances, a professional executor can provide the necessary expertise and impartiality to administer the estate efficiently.

• Geographical Constraints: If your chosen executor lives far away or in a different country, it may be more practical to appoint a professional executor who is local. This is particularly important where you will be leaving behind a property which may need to be regularly inspected to ensure compliance with any buildings insurance policy.

If you decide to appoint a professional executor to your Will, your estate will benefit from the following:

• Expertise and Experience: Professional executors have the knowledge and experience to handle the complexities of estate administration. Most non-professionals will not have experienced the breadth of problems that can arise in estate administration, unlike professionals who deal with estate administration regularly.

• Impartiality: A professional executor acts impartially and is not influenced by personal relationships or emotions. This can help avoid conflicts and disputes among beneficiaries.

• Efficiency: With their expertise and resources, professional executors can often administer the estate more quickly and efficiently than a lay person. This means that beneficiaries receive their inheritance more quickly!

• Legal Compliance: Professional executors are typically experts in the legal or tax side of estate administration, both of which are important to get right. Failure to follow the law or declare and pay the correct tax leads to a personal liability on executors – this is a particular issue with lay executors who have less knowledge or experience regarding the probate process.

• Peace of Mind: Knowing that a professional is handling the administration of your estate can provide peace of mind that your wishes will be carried out correctly and that your loved ones will be taken care of. You can also be safe in the knowledge that your loved ones can grieve in peace without the stress of needing to deal with the paperwork.

Before making a decision about who to appoint as your executor, it's important to discuss your options with your solicitor to determine the best course of action for your individual circumstances. Whether you choose a family member, friend, or professional executor, the most important thing is to ensure that your executor understands your wishes and is capable of carrying them out responsibly.

If you are unsure who to appoint as your executor, whether a professional or a lay person, you can contact Lawson-West to discuss your circumstances. Lawson-West is also happy to act as a professional executor where appropriate.

Please call us on 0116 212 1000 or alternatively fill in the free Contact Us form and we will get in touch as soon as possible.

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