Executor of Will - What's involved?
Discussion
An acquaintance of mine has asked me to be the executor of their will/estate upon their death.
I don't really know what to expect from this, have googled so have a broad idea, but what are the realities?
She's living in rented accommodation with very few assets, so I don't foresee any huge amounts of red tape around selling off the estate, as it pretty much amounts to personal possessions.
She has mentioned she's due an inheritance of a reasonable sum, but isn't sure if she will survive long enough to claim it, if not it will pass to her estranged sister.
I have no financial or close personal connection with this woman, (I'm a bus driver and she's a passenger) which is why I think she's asked me - she has no close family or friends, and wants someone to handle her affairs with dignity and respect with no personal agenda.
I'm quite touched to have been asked, and saddened that I've had to be asked if that makes sense.
She's recently been diagnosed with malignant cervical cancer and is just about to commence treatment, she's relatively young (60s) and in reasonable health otherwise. Unsure of prognosis and treatment, but can only assume she's expecting my services to be required sooner rather than later.
Anything I need to look out for, or just general advice really?
I don't really know what to expect from this, have googled so have a broad idea, but what are the realities?
She's living in rented accommodation with very few assets, so I don't foresee any huge amounts of red tape around selling off the estate, as it pretty much amounts to personal possessions.
She has mentioned she's due an inheritance of a reasonable sum, but isn't sure if she will survive long enough to claim it, if not it will pass to her estranged sister.
I have no financial or close personal connection with this woman, (I'm a bus driver and she's a passenger) which is why I think she's asked me - she has no close family or friends, and wants someone to handle her affairs with dignity and respect with no personal agenda.
I'm quite touched to have been asked, and saddened that I've had to be asked if that makes sense.
She's recently been diagnosed with malignant cervical cancer and is just about to commence treatment, she's relatively young (60s) and in reasonable health otherwise. Unsure of prognosis and treatment, but can only assume she's expecting my services to be required sooner rather than later.
Anything I need to look out for, or just general advice really?
Sounds an unusual request. How well do you know her? I've been executor for both my parents and it was very straightforward. But even so there were some legal shenanigans to do with my father's will owing to a mistake made with his property deeds and newish partner which took five and patience to get sorted.
So I would only do it for someone I knew well.
So I would only do it for someone I knew well.
BertBert said:
Sounds an unusual request. How well do you know her? I've been executor for both my parents and it was very straightforward. But even so there were some legal shenanigans to do with my father's will owing to a mistake made with his property deeds and newish partner which took five and patience to get sorted.
So I would only do it for someone I knew well.
She's an acquaintance. I think she's only asked me as she doesn't really have anyone else that she feels she can trust. So I would only do it for someone I knew well.
No property, no car, no dependants, no money. Personal possessions amount to clothing, furniture, a few knick knacks, and the food in the fridge.
Bit of a sad situation all round.
It doesn’t sound like there is a lot for you to do as Executor and even if there was you could also engage a Solicitor to assist ?
Has she made a will / have you seen it ie are aware of what it asks for in bequest terms ?
The incoming inheritance may be a slight stumbling block in the ease of sorting because that is beyond your control unless you are somehow able to get involved as “ her legal friend “ etc.
Has she made a will / have you seen it ie are aware of what it asks for in bequest terms ?
The incoming inheritance may be a slight stumbling block in the ease of sorting because that is beyond your control unless you are somehow able to get involved as “ her legal friend “ etc.
I have been executor for both of my parents, one 16 years ago and the other 3 years ago. The difficult issues were around getting HMRC to communicate/respond on IHT issues- they were fine 16 years ago but are now comically (?)unresponsive.
House sale was easy but a bit time consuming.
With neither of these issues to deal with it should be simple.
Is there any danger of disputes amongst beneficiaries? As executor you would have to deal with such issues. Again with few assets to argue about this is perhaps unlikely to be a problem.
House sale was easy but a bit time consuming.
With neither of these issues to deal with it should be simple.
Is there any danger of disputes amongst beneficiaries? As executor you would have to deal with such issues. Again with few assets to argue about this is perhaps unlikely to be a problem.
alscar said:
It doesn’t sound like there is a lot for you to do as Executor and even if there was you could also engage a Solicitor to assist ?
Has she made a will / have you seen it ie are aware of what it asks for in bequest terms ?
The incoming inheritance may be a slight stumbling block in the ease of sorting because that is beyond your control unless you are somehow able to get involved as “ her legal friend “ etc.
She's told me she shall be making a will. Currently running the gauntlet of early stage cancer treatment so may not be her first priority. I'll try and sensitively bring that up. She's pretty pragmatic so I think she'll be receptive. Has she made a will / have you seen it ie are aware of what it asks for in bequest terms ?
The incoming inheritance may be a slight stumbling block in the ease of sorting because that is beyond your control unless you are somehow able to get involved as “ her legal friend “ etc.
I can't imagine there's going to be much in it. Unless she has undisclosed assets, but I think that's unlikely as she's stated she wants to make the whole process as easy and trouble free for me as possible. Her priority is having someone deal with the practical arrangements around her funeral etc. I'm assuming that should she pass before receiving her inheritance, then it will pass directly to her sister without my involvement being required, as that is apparently the terms in her mother's will.
mac96 said:
I have been executor for both of my parents, one 16 years ago and the other 3 years ago. The difficult issues were around getting HMRC to communicate/respond on IHT issues- they were fine 16 years ago but are now comically (?)unresponsive.
House sale was easy but a bit time consuming.
With neither of these issues to deal with it should be simple.
Is there any danger of disputes amongst beneficiaries? As executor you would have to deal with such issues. Again with few assets to argue about this is perhaps unlikely to be a problem.
Thank you. Yes, from what I've learned from her so far, my duties will pretty much extend to funding and arranging the funeral from her estate, and disposal of her possessions. The only potential bump in the road is this inheritance, which I can imagine will trigger a dispute. I'm hoping she responds well to the treatment and gets to spend it first! House sale was easy but a bit time consuming.
With neither of these issues to deal with it should be simple.
Is there any danger of disputes amongst beneficiaries? As executor you would have to deal with such issues. Again with few assets to argue about this is perhaps unlikely to be a problem.
RoadToad84 said:
She's told me she shall be making a will. Currently running the gauntlet of early stage cancer treatment so may not be her first priority. I'll try and sensitively bring that up. She's pretty pragmatic so I think she'll be receptive.
I can't imagine there's going to be much in it. Unless she has undisclosed assets, but I think that's unlikely as she's stated she wants to make the whole process as easy and trouble free for me as possible. Her priority is having someone deal with the practical arrangements around her funeral etc. I'm assuming that should she pass before receiving her inheritance, then it will pass directly to her sister without my involvement being required, as that is apparently the terms in her mother's will.
Sounds as if she is estranged from her sister who presumably as family would usually be the one to sort out the funeral etc ?I can't imagine there's going to be much in it. Unless she has undisclosed assets, but I think that's unlikely as she's stated she wants to make the whole process as easy and trouble free for me as possible. Her priority is having someone deal with the practical arrangements around her funeral etc. I'm assuming that should she pass before receiving her inheritance, then it will pass directly to her sister without my involvement being required, as that is apparently the terms in her mother's will.
RoadToad84 said:
Correct. I don't know the details, but the relationship has broken down
I wish you well should you accept the role. I’m currently Executor for someone whose own sister refused to first act as LPA and also as Executor ( and tbh I understand why ) but also refused to act as next of kin and also wanted nothing to do with the funeral arrangements.
Perhaps just also be aware of the costs of funerals though ?
Appreciate this is not a nice conversation to be having with your acquaintance but as you say if she is being pragmatic then hopefully won’t be too bad for either of you.
Might be sensible to have her wishes on the funeral ( should it come to that ) kept separately.
alscar said:
I wish you well should you accept the role.
I’m currently Executor for someone whose own sister refused to first act as LPA and also as Executor ( and tbh I understand why ) but also refused to act as next of kin and also wanted nothing to do with the funeral arrangements.
Perhaps just also be aware of the costs of funerals though ?
Appreciate this is not a nice conversation to be having with your acquaintance but as you say if she is being pragmatic then hopefully won’t be too bad for either of you.
Might be sensible to have her wishes on the funeral ( should it come to that ) kept separately.
Thanks. She has a funeral plan in place, so that should cover the bulk if not the entirety of the cost. I’m currently Executor for someone whose own sister refused to first act as LPA and also as Executor ( and tbh I understand why ) but also refused to act as next of kin and also wanted nothing to do with the funeral arrangements.
Perhaps just also be aware of the costs of funerals though ?
Appreciate this is not a nice conversation to be having with your acquaintance but as you say if she is being pragmatic then hopefully won’t be too bad for either of you.
Might be sensible to have her wishes on the funeral ( should it come to that ) kept separately.
She's also wanting to name me as next of kin to facilitate access to funds etc for the same.
If you are minded to do it, which it sounds like you are, then it's probably ok provided you are happy to put the time in for the funeral etc. If there is a large sum of money arrived, then you will have to get probate, sort out the IHT etc (assuming there is any). In theory the IHT has to be paid prior to getting probate which leaves the executor in a bit of a pickle as the funds are frozen. There are ways to navigate that, but it can mount up to be a bit (or a lot) of a pita.
There are several areas where pitfalls might come:
There are the pitfalls that may come about from the executor part in the normal course some of which described above.
There are worse pitfalls if there is a difficult family situation you could end up being stuck in the middle of and trying to navigate.
And finally, with the best of intentions, you may well end up in a place that you didn't envisage. Many (most) people don't just die suddenly. But they get old, have illnesses, become fragile, need more and more help, need decisions, need rehoming and then eventually they die.
This can all start with being helpful (like agreeing to be an executor), being a bit more helpful, then eventually being relied upon. Being called in the night after a fall and so on. You need to know this and know whether your part in the situation could end up like that and decide how you feel about it.
So please go in with your eyes wide open and talk all this through with the person. It could all be very straightforward, but it could end up being very time consuming, demanding and last a long time.
There are several areas where pitfalls might come:
There are the pitfalls that may come about from the executor part in the normal course some of which described above.
There are worse pitfalls if there is a difficult family situation you could end up being stuck in the middle of and trying to navigate.
And finally, with the best of intentions, you may well end up in a place that you didn't envisage. Many (most) people don't just die suddenly. But they get old, have illnesses, become fragile, need more and more help, need decisions, need rehoming and then eventually they die.
This can all start with being helpful (like agreeing to be an executor), being a bit more helpful, then eventually being relied upon. Being called in the night after a fall and so on. You need to know this and know whether your part in the situation could end up like that and decide how you feel about it.
So please go in with your eyes wide open and talk all this through with the person. It could all be very straightforward, but it could end up being very time consuming, demanding and last a long time.
BertBert said:
So please go in with your eyes wide open and talk all this through with the person. It could all be very straightforward, but it could end up being very time consuming, demanding and last a long time.
Would it be an idea to ask to see the Will before deciding? That way you get some idea of the size of the job.Being an Executor doesn't make you a carer as well; that's a job for an Attorney to sort out.
I'm an executor at the moment.
I wouldn't do it for an acquaintance. It's not ball breaking, but it's not a doss.
The solicitor wanted £13,500 to fill in the inheritance tax form and apply for probate. I did it for nothing and it somehow did not feel like that much work.
Assuming there's no inheritance tax due you still need to contact the tax man, all financial institutions and utilities to inform them and figure if there's anything owed.
You're legally responsible for distributing the money to whoever is entitled to it. You have to retain your accounts for multiple years. Once probate is granted you'll be contacted by types such as the state pension wanting anything overpaid paid back etc.
If there's an inheritance due and they die before receiving it then someone needs to check the wording in the will leaving it. She may think it'll pass to the sister, but it needs specific phrasing.
Sometimes somebody's claim dies with them, most of the time it goes to their estate which means more distribution of the money down the line.
There's nothing massively onerous about it, but it's a potentially long term responsibility with a fair bit of record keeping and detective work required.
If you do decide to go for it, the best thing she can do for you is lay out everything to her name - debts, accounts etc, get valuations of anything saleable and where it might sell - in detail.
Banks seem to have different probate rules so it may be a low enough amount of money to not need it. But some might insist even if there's a pittance. That's another thing worth checking well before the time.
I wouldn't do it for an acquaintance. It's not ball breaking, but it's not a doss.
The solicitor wanted £13,500 to fill in the inheritance tax form and apply for probate. I did it for nothing and it somehow did not feel like that much work.
Assuming there's no inheritance tax due you still need to contact the tax man, all financial institutions and utilities to inform them and figure if there's anything owed.
You're legally responsible for distributing the money to whoever is entitled to it. You have to retain your accounts for multiple years. Once probate is granted you'll be contacted by types such as the state pension wanting anything overpaid paid back etc.
If there's an inheritance due and they die before receiving it then someone needs to check the wording in the will leaving it. She may think it'll pass to the sister, but it needs specific phrasing.
Sometimes somebody's claim dies with them, most of the time it goes to their estate which means more distribution of the money down the line.
There's nothing massively onerous about it, but it's a potentially long term responsibility with a fair bit of record keeping and detective work required.
If you do decide to go for it, the best thing she can do for you is lay out everything to her name - debts, accounts etc, get valuations of anything saleable and where it might sell - in detail.
Banks seem to have different probate rules so it may be a low enough amount of money to not need it. But some might insist even if there's a pittance. That's another thing worth checking well before the time.
Edited by bloomen on Saturday 7th December 16:52
RoadToad84 said:
She's also wanting to name me as next of kin to facilitate access to funds etc for the same.
I don't think that has any meaning in English law. Being executor gives access to accounts once you have either probate (if there's a will) or letters of administration otherwise. However if the sums involved are small you may not need either - it depends on the bank / BS.RoadToad84 said:
No property, no car, no dependants, no money. Personal possessions amount to clothing, furniture, a few knick knacks, and the food in the fridge.
Are you sure about this? Perhaps she's one of those people who lives very frugally but has lots of money stashed away in various accounts?If that is the extent of her current possessions, presumably she's only writing a will in the expectation of receiving her inheritance. Otherwise, it hardly seems worth it in her situation.
The text below is taken from Citizens Advice. It might be useful in helping both of you decide a way forward.
RoadToad84 said:
She's an acquaintance. I think she's only asked me as she doesn't really have anyone else that she feels she can trust.
No property, no car, no dependants, no money. Personal possessions amount to clothing, furniture, a few knick knacks, and the food in the fridge.
Bit of a sad situation all round.
Not trying to be obtuse but how does someone remotely normal live 60 odd years and have nothing? Sounds like more of an existence funded externally and if that was me I wouldn’t be wanting to prolong it.No property, no car, no dependants, no money. Personal possessions amount to clothing, furniture, a few knick knacks, and the food in the fridge.
Bit of a sad situation all round.
Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff