life
PROPERTY
Duties of an
executor in a Will
Very often executors are
appointed to a Will without
any reference to the individual
by the person making the Will.
You should always check that
in appointing an executor to
your Will that the consent
is first obtained from the
person or persons you wish
to appoint, just in case they
do not wish to take on the
responsibility and obligation
of the appointment.
The statutory powers
and duties of an executor,
who becomes the personal
representative of the
deceased following death,
are in part contained in the
Administration of Estates
Act 1925 (as amended). Prior
to the coming into force of
the Trustee Act 2000 on the
1st February 2001 many
of the powers of personal
representatives were set out in
the Trustee Act 1925 and were
somewhat limited.
In essence an executor
so appointed under a Will
is responsible for, where
necessary, seeing that the
funeral arrangements are all
properly undertaken and any
directions of the deceased as
to the disposal of the body
following death. The executor
is also responsible for securing
Probate to the Will from the
Court of the deceased and
once obtained for calling in
the assets of the estate and
distributing them pursuant to
the terms of the Will.
An executor may also be
required to undertake a trustee
appointment unless otherwise
specifically provided for in the
Will. For instance if a legacy
was left to a minor then the
monies would have to be held
in Trust for the minor until the
age of majority is reached or at
such other age beyond this date
that may be specifically stated
in the Will. Therefore it
should be considered carefully
that where Trusts have to be
set up that either separate
trustees are appointed for this
purpose within the Will, or the
executor is made fully aware
of his or her obligations in this
regard.
Often individuals appoint
professional persons as
executors and trustees, such
as Bank Trustee Departments,
Lawyers and Accountants,
subject to their charges
being dealt with during the
administration of the estate
and to avoid a personal
liability that would certainly
arise upon an individual if he
or she failed to discharge their
duties imposed upon them
in the capacity of being an
executor or trustee.
It is very worthwhile to
Photo: Mark & Terence Willey
consider the appointment
of any executor to your Will
before completing it whether
they are to take on any
Trustee duties that may arise
under the terms of your Will.
Often a legacy is considered
appropriate for the person
accepting this responsibility
if they are not otherwise
provided for in the Will.
If you would like to discuss
any aspect of the preparation
and completion of your Will or
generally the appointment of
executors and trustees in a new
Will or an existing Will, please
do not hesitate to contact
either Mark Willey or Terence
Willey who will be prepared to
discuss this with you without
obligation, in the first instance.
Contact Terence Willey on
(01983) 875859 or Mark Willey
on (01983) 611888 without
obligation.
Terence Willey & Co
Tel: 01983 611888
www.terencewilley.co.uk
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