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It is important that you can trust the people you appoint as Executors and even if someone is included as a beneficiary in your Will they can still act as an Executor on your behalf. Any Executor must be over 18. Many people will appoint family members or good friends; however it can also be a good idea to appoint a professional Executor such as a firm of Solicitors for accuracy and security, particularly where the estate is complex or where family disputes may arise.
Because a Will is a legal document, there are serious responsibilities involved for those who are appointed to uphold its terms. Executors are liable to correctly distribute assets of an estate and failure to do so can lead to legal action if beneficiaries do not receive what they are due. Executors are able to seek legal advice on these matters; however having a legal professional as a joint Executor is another way to have immediate expertise on hand to ensure accuracy and also to guide other Executors who you have selected.
Franklins as a firm can be appointed as Executors either as a first option, or as a substitute if for any reason an Executor that you have previously selected cannot carry out their duties. There is a big benefit in this as it offers a reliable and constant option, plus a firm can always offer the time and knowledge needed to deal with the estate carefully and efficiently, whereas for an individual this can sometimes be difficult. The cost of this work varies dependent upon the size and complexity of the estate. We recommend an initial meeting to understand the situation clearly.
The values of the assets and debts of the estate of the person who died. In some circumstances they have to agree their fees.
An adult appointed in a Will only to administer the estate and apply for probate.
No they cannot.
Then the estate cannot be administered. Ultimately the Court can decide to appoint new executors if the siuation is really bad.
Depends on the assets and family situation. You only need one Executor.
Once they are happy that all debts are paid and all assets are dealt with.
If you have any questions about executors, please don’t hesitate to contact our team of experts who are on hand and ready to help you.
