Executorship
Our executor service is offered as part of our Will Writing and Trust Creation Services.
An Executor is the person, or company, appointed by you in your Will to carry out your wishes after you have gone.
This could be a close friend, relative, or a professional executor, although if you don’t opt for the latter then you should name at least two executors in your will to ensure that if one person is unable to perform the tasks on your death, or if they pass away before you, there will be another option.
The executor will be required to undertake the following tasks upon your death:
- Value the estate and calculate inheritance tax payable
This often requires considerable amounts of work on the part of the executors, including searching for assets which are not immediately available, and making a reasonable estimate of their value.
- Pay off any debts owed by, and make gifts from, the estate in accordance with your Will
They must then gather together the remainder and deal with it in the way you have instructed.
As you can see, the role of executor is very complex and demanding and as such, you will need to think very carefully about who would be the best person for the role. A careful choice of executor can save distress, time and tax for your loved ones.
Benefit of Choosing Will Solutions
If you appoint us as your professional executor, we can take care of your affairs on your behalf after you have gone. The benefits of this choice are that:
- We are experts in this field and have a full understanding of the tax system
- We can make financial decisions in the interests of all beneficiaries
- We have the time and knowledge to deal with paperwork
- Peace of mind that we will definitely take on the responsibility
- As solicitors, we can make probate applications by post
- We have £2million Professional Indemnity Insurance
Finally, we are detached so we can make decisions - sometimes difficult ones - in the interests of your beneficiaries, without having any vested interests ourselves.