Appointing an executor for your Will is an important decision and one that can be difficult to make. As well as being someone you can trust, your executor needs to feel confident managing the intricacies of the process. Increasingly, testators are choosing to appoint a professional executor, often a solicitor, who has all the necessary qualities and knowledge.
For further guidance on every aspect of executry, talk to us today.
The challenges of acting as an executor
Executors have a demanding role. They are required to handle your legal and financial affairs after your death, a process that can often be complex, lengthy and emotionally delicate. Therefore, your executor must be someone you can trust who also has the ability, time and willingness to do the job well.
The challenging nature of the position can make it difficult to choose the right person. Whilst you may wish to appoint a family member, remember that they will be grieving your death. For some, it will be too much to take on the burden of being an executor at the same time as coming to terms with their loss. Relatives may also find it difficult to act as an executor if they feel pressured by other family members, perhaps due to a long-standing dispute or disagreements that arise after your death.
Find out more here about what an executor does.
Personal liability
Despite the significant challenges that executors encounter, they must perform their role fully and correctly. If they make a mistake, they may be held personally liable for any losses caused to the estate or third parties. Such claims can prove costly, and statistics show that they are on the rise. This can cause additional stress for your executor, which can prove overwhelming when coupled with the demands of the role.
Getting professional help
The right assistance can make everything easier for your loved ones. You can ensure they have the help they need by appointing a professional executor. You might choose to have your professional executor act as your sole executor, or you might opt to appoint one or more lay executors alongside them.
Choosing a solicitor to be your professional executor is advisable, as they have the legal knowledge needed to handle your affairs with speed and care. Their experience will prevent time-consuming or expensive mistakes from being made and so protect your family from the far-reaching consequences of an error. Moreover, as an impartial party, they will be free to carry out your wishes without hindrance from family politics.
Complex estates
Where an estate is complex, either in its entirety or in part, professional help can be even more valuable. Affairs can be complex for many reasons, including where:
- there is an international element to the estate, for instance, property held overseas;
- the testator owned a business, especially if it will continue to operate;
- the tax position of the estate is complicated;
- the Will intends to establish trusts.
Whilst these are some of the most complex matters an estate might involve, many aspects of executing a Will can be complicated and confusing for a layperson. A solicitor is well-positioned to handle complex estates as a professional executor and, if they are working alongside other executors, can be consulted as needed on any issue that causes uncertainty.
Get in Touch with Claphams Specialist Wills Solicitors Clarkston, Newton Mearns, Giffnock, Netherlee, Eaglesham, Carmunnock, Stewarton & Southside Glasgow
The solicitors at Claphams have extensive experience acting as professional executors. We have helped countless families with their loved ones’ affairs, providing a caring and thoughtful service at a difficult time. Our sensitive executry law team can advise and assist with as much of the process as you need.
If you’d like to discuss your circumstances, contact us today on {{CONTACT_NUMBER}} or fill out our online enquiry form.