Dealing with the issue of arranging a will and everything this encompasses can be a daunting task, one that many prefer to delay as they struggle to think about the prospect of death and no longer being here with their loved ones.
However, it’s still important that you arrange a will, not only to ensure your estate is distributed according to your wishes but to make life easier for said loved ones in the event of your passing. This includes appointing an executor. Keep reading to learn more about what it means to be an executor of someone’s will.
What is an Executor?
So, what actually is an executor? An executor of a will is the person named in the will itself as being responsible for dealing with the deceased’s estate. This means that they will be responsible for ensuring that the deceased’s estate is distributed according to the wishes listed in the will and will have final authority over the distribution of any other assets not specifically mentioned otherwise.
Because of the authority that comes with being an executor, it’s recommended to only appoint someone you trust will adhere to your wishes and be fair in how they deal with your estate.
Will You Need to Apply for Probate?
If an estate includes a property, then you will most likely be required to apply for probate. This is a legal document that gives you the legal authority to act as executor and share out the estate in question.
However, there are some exceptions where probate isn’t required, including:
- If the estate is just made up of cash and personal possessions
- All the property in the estate is owned as beneficial joint tenants (the property will automatically become owned wholly by the other owner)
- The amount of money in the estate is small
- The estate is insolvent (meaning there’s not enough money to cover all debts, taxes and expenses)
How to Appoint an Executor
Now that you know more about what an executor is and the responsibilities this brings, how does an executor actually get appointed?
This is actually quite simple – the owner of the will simply states within the will itself who they wish their executor(s) to be. It’s recommended to speak to people you intend to make your executors to ensure that they’re happy to hold such a position, so it hopefully shouldn’t come as a surprise to you if you are named as someone’s executor.
It’s also important to note that even if you are named as an executor, you don’t have to take on this role if you don’t wish to. For this reason, it’s recommended that people appoint a minimum of two executors, although it’s also recommended to have no more than four.
Wills and Probate Solicitors
If you are the executor of someone’s will, then you’ll want to ensure that the entirety of the deceased’s estate is distributed according to their intentions, as you’ve been entrusted to do. Our probate solicitors can help ensure just that here at Richards & Lewis.
Our expert lawyers are well-versed in wills and probate, ensuring that both the will writing and probate processes are dealt with responsibly and accurately, providing you with the peace of mind you deserve.
Get in touch with us today to discuss how our services can help you in this trying time.
