Do I have to act as Executor if I am named in a Will in Braintree?

An Executor is someone who takes legal responsibility for administering the Estate of
someone who has died. As such, an Executor has many duties and responsibilities that must
be carried out in order to satisfy the legal requirements of the role. An Executor’s duties
include:

  • Informing relevant companies that the deceased has died.
  •  Completing and submitting the forms in order to apply for a Grant of Probate, which
    then allows the Executor to take legal responsibility for the Estate.
  • Valuing all assets within the deceased’s estate.
  •  Calculating and paying any Inheritance Tax due.
  •  Paying any outstanding debts due.
  • Locating, and distributing named assets to any beneficiaries.

Ensuring that any wishes detailed in the Will by the deceased are carried out.

However, it should be noted that as it is a legal responsibility for the Executor to carry out
these duties correctly, any errors or oversights can result in the Executor being held
personally responsible for any losses incurred by legal authorities, creditors or even the
beneficiaries. Therefore before you even agree to be named as an Executor in a Will, you
should carefully consider whether you feel able to carry out the legal responsibilities
properly.

Even if you have been named as Executor in a Will you can still decide to renounce the
responsibility should you feel unable to complete the role when the time arises. There are
many reasons why you may feel unable or unwilling to act as an Executor. For example, the
role of Executor can be very time consuming, it also involves financial aspects that you may
not feel confident in dealing with, you may be unwell or physically unable to undertake the
role, or you may simply find the process upsetting and wish to refuse on emotional grounds.
The manner in which you refuse the role differs according to whether there are other
Executors named within the Will, and whom, if anyone, would act as Executor in your place.

Therefore if you have been named as an Executor and wish to renounce the role it is
advisable to seek legal advice from a specialist in this area of law such as Andrew Douglas
Wills and Legal Services. Not only do Andrew Douglas Wills and Legal Services offer a free
initial consultation in order to discuss the role of Executor and your decision whether or not
to accept the role, we can also arrange to act as Executor in your place. Whether in
Braintree or the surrounding areas of Essex, contact Andrew Douglas Wills and Legal
Services today.

 

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Written by Laura Richardson.