An executor can be anyone, even a beneficiary, over the age of Common executor appointments include family members and friends, although it is also possible to appoint your solicitor as a professional executor.
At Timbrell Law, we help our clients look at all their options when appointing an executor and what might be best to ensure the efficient administration of their estate.
This includes looking at their family dynamics, the size and complexity of their estate and how they ultimately want their assets distributed. This will be a personal decision for you, but solicitors are often appointed for their experience in the following scenarios:.
The weeks and months following a death can be an emotional and difficult time. Juggling the estate administration and grieving can often be too much for those left behind. For those without close family or friends, appointing a professional allows them to set out their Will wishes and know that they will be carried out. On the other hand, even with family available, they may be no-one suitable or willing to take on the role. Acting as an executor is time consuming and mistakes can lead to personal liability; this is often off putting for those with busy lives of their own.
The larger and more complex your estate, the harder it will be to wind up. A professional executor should have the legal knowledge and experience required to enable them to deal with the administration and shield the family from any unnecessary stress.
It is often difficult to family member to separate their emotions and act impartially as an executor; however, failing to do so can cause disagreements and tension during the estate administration.
Appointing a professional can avoid favouring one family member over another and accidentally reinforcing pre-existing tensions.
Executors are, of course, free to appoint Solicitor to act for them if they wish and their costs are payable from the estate. However, increasingly people are tempted to deal with matters without legal help.
This leaves open the risk of inadvertent errors being made which could leave the executor personally out of pocket. If you think appointing a solicitor as executor of a will may affect you and would like further advice, please contact any member of our Tax, Trusts and Estates team in Guildford on , email wills rhw.
Legal Guides. Inheritance tax is a tax on taxed income. You go to work and pay your taxes and with what is left you start to build your pot for the future. A company director who fails to act in the best interests of the company can be disqualified for up to 15 years.
Directors of limited companies have a duty to act in the best interests of the company at all times. A child arrangements order is a type of Court order that sets out where a child should live, how often a child should see the non-resident parent, and other care arrangements.
When a relationship breaks down, parents may struggle to agree on child care arrangements. There might be a dispute as to where a child […]. JTF Mega Discount Warehouse have made 20 or more redundancies in one location within a 90 day period, meaning they need to follow a certain process.
JTF Mega Discount Warehouse must have collectively consulted with a recognised trade union or elected employee representatives. If they failed to meet those requirements, employees may be entitled to […]. Following the appointment of administrators, it was announced that JTF Mega Discount Warehouse are closing all branches of the company, resulting in around job losses.
Grandparents do not automatically have the legal right to see their grandchildren. Yet there are times when family relationships deteriorate to […]. In short, No. ACAS have a technical role in dealing with the initial steps of the process — which is called early conciliation, but they do not lodge Tribunal claims for claimants or deal with Employment Tribunal claims on their behalf.
Check your eligibility to file a claim online. Who are ACAS? Following the appointment of Administrators on 9th July , it has been announced that WRW have ceased to operate, resulting in job losses for their staff. WRW Construction have made 20 or more redundancies in one location within a 90 day period, meaning they need to follow a certain process.
WRW must have collectively consulted with a recognised trade union or elected employee representatives. If they failed to meet those requirements, employees may be entitled to make a claim for a […]. Yes, funeral costs can be recovered from the estate. Who pays for a funeral? However, this is the one part […]. The first action is to ascertain whether the house falls within the estate of the person who has died.
They might be living in a house that is rented or in which they only have a right to live for their lifetime, as it is held by Trustees under the terms of a Trust Deed. It places a child or young person in the care of one or more individuals who are not their birth or adoptive parents. What is a Special Guardianship Order?
A Special Guardianship Order places a child to live with someone permanently, who is not […]. Furlough fraud During the pandemic, the government created a furlough scheme to allow employers to continue to pay their employees whilst the pandemic restrictions were in place, curtailing the movement of people.
Income and gains that are made while the estate is being administered still have to be submitted on a tax return. However, there are ways to reduce these liabilities. Capital Gains Tax exemption One option is to […].
Getting a Grant of Representation When someone dies, their surviving family members may have to get a Grant of […]. This is achieved with a Deed of Variation and can help to limit tax liabilities.
Why alter a Will after someone dies? Sometimes, a beneficiary receives a gift in a Will that they do not want. For example, it could be that: […]. Failure to comply with these new regulations could result in the seizure of goods or cash. Seizure of goods Now that the United Kingdom is no longer a member of the European Union, the British government has implemented a […].
Making a Will and mental capacity For a Will to be […]. Make an agreement as soon as possible Following a separation or divorce, there is often confusion as to what should happen to a joint mortgage.
Common questions include: who is […]. Solicitors will want to see you face to face when making a Will or Lasting Power of Attorney. This is to guarantee the validity and effectiveness of the document. This ensures that: You are not […]. Do you have to attend court in person? So long as you both agree to the divorce, and there are no disputes over costs and other such issues, you will […]. This can be implemented during your lifetime or included in your Will.
Every person with parental responsibility for a child who cannot manage in mainstream life has the additional burden of being worried about their future, when they are not there to […]. This depends on the circumstances, including whether or not you are married.
If you have not been left an item of jewellery in a Will — despite lifetime promises made by the deceased — then you may have the right to challenge the claims of the beneficiaries in the Will to the jewellery. To do so, it is necessary to establish that a secret trust was made […]. Remembering a charity in your Will Most charities are highly dependent on gifts in Wills, be it a set monetary sum, or a share or all of the residuary estate. The Law Society recommends that we do this.
A financial settlement is the financial arrangements made between you and your ex-spouse following the breakdown of your marriage. It covers the division of your assets and debts, plus any ongoing financial commitments, such as the payment of spousal maintenance. You can either decide on a financial settlement between yourselves, or if you cannot agree, […]. The intestacy laws — who gets what? When this happens, their estate is administered under the intestacy laws. This dictates who inherits the money, property and assets in the estate, and in what […].
You do not need a solicitor to apply for probate, but most executors and administrators choose to use a solicitor, especially if the estate is complex. Applying for probate Probate is a legal process in England and Wales that is sometimes needed after someone dies. It involves applying for a Grant of Representation from the […]. What is parental responsibility? It gives […]. Every Will should name an Executor.
Between one and four Executors can be named. If there are children under the age of 18 who are likely to benefit under the Will, then it is customary to appoint at least two Executors. The choice of Executor is important. They must be capable of dealing with paperwork, […]. If you are living with your partner but you are not married, then you might want to consider putting a Cohabitation Agreement in place.
What is a Cohabitation Agreement? A Cohabitation Agreement is a legal agreement between an unmarried couple who are living together, or intend to live together. It sets out who owns what […]. These documents are still valid, but they can only cover the finances of the person making the appointment. These […].
In England and Wales, there is one ground for divorce, which is the marriage has irretrievably broken down. Currently, you must prove that your marriage has irretrievably broken down by showing that one of the five facts of divorce has taken place.
A Will is the only way to ensure that your wishes are fulfilled after your death. Any wishes you have expressed during your lifetime will not be legally valid, unless they are properly recorded in a Will. What happens if I die without a Will? If you die without a Will, the intestacy laws will […]. It is important that you get legal advice as to the best approach to any proposed move.
I oppose […]. If a Will has been lost and the testator is still alive, the best thing to do is simply to make another Will. However, if the testator has already died, then you will need to conduct thorough searches in an attempt to locate the Will. What happens to the house on divorce? Getting divorced is always difficult, especially if you share a child with your spouse. That is usually a very difficult question to answer, as it all depends on the circumstances.
In […]. It is perfectly possible to write your own Will. You can also pay someone who has no legal experience to write your Will for you. However, neither option is recommended.
This could actually invalidate your Will, making the document […]. Currently, the amount of time you have to wait before you can divorce depends on the grounds for your divorce. If you do not want to rely on adultery or unreasonable behaviour, then you will have to be separated for at least two years.
However, this is set to change in the future when England […]. If your partner dies without having made a Will — and you are not married or in a civil partnership — then you will receive nothing under the rules of intestacy. However, any assets held as joint tenants such as property will pass to you as the surviving owner.
Intestacy laws explained The intestacy laws […]. Parents can decide between themselves how much child maintenance should be paid. The CMS determines how much child maintenance a parent […]. A Will is a legal document that sets out how you want your estate to be distributed after your death. A Trust is a way of controlling your assets for your chosen beneficiaries, either during your lifetime or after your death. Wills vs Trusts A Will is a legal document that speaks from the point […].
Legal benefits of marriage Many couples assume that by living together, even if in a lengthy relationship, that they acquire marital rights. Unfortunately, as cohabitees in England and Wales, you do not have the same rights as you would by getting married. Inheritance rights […]. You do not have to wait until later life to make a Will. In fact, you can and should make a Will in your younger years.
Even if you do not have many assets to speak of now, a Will protects any wealth that you acquire in the future. You can also use a Will […]. A Declaration of Trust is a legal document that is used when two or more parties buy a property together.
What is a Declaration of Trust? A Declaration of Trust is […]. You may be entitled to receive financial support from your ex-spouse, even after you have separated or divorced.
This is called spousal maintenance and is awarded by the court. Who is entitled to spousal maintenance? When you begin divorce proceedings, the court will decide whether one person should receive ongoing financial support from the other. Anyone with parental responsibility can apply for […]. Getting married is a legal contract, so when it comes to an end, it is best to get expert advice on the financial and legal implications.
This is the kind of thing that […]. If you are proposing to travel on holiday with a child, do you have permission to do so?
If you are separated from the other parent, then you might actually need their consent before you embark on any overseas trips. Who has […]. When a marriage breaks down, as a spouse you have certain rights that are protected under law. What are my rights? Unfortunately, the reality these days is that more and more marriages and relationships come to an end, resulting in a number of difficult decisions regarding financial matters.
Prenuptial and post-nuptial agreements are useful tools which allow couples to agree from the outset or shortly after marriage how these difficult decisions will be made if their […]. Due to the coronavirus pandemic, domestic abuse has significantly increased in the UK. Many have struggled financially, emotionally and physically. Being unable to leave the house only serves to increase tensions at home.
This, however, is not an excuse for domestic abuse. If you feel that you or your children are in immediate danger, you […]. If you do not want to get a divorce, there are other options that you could explore. If you choose to do nothing for the time-being, be sure to protect your finances. This includes changing your Will and updating any death in service nomination. For many couples following a […]. It has been widely reported that the Chancellor of the Exchequer, Rishi Sunak, is likely to extend the stamp duty holiday for a further three months.
This will occur when he presents his budget on 3 March Skip to main content Skip to footer Email Us: enquiries jbsolicitors. Did you know your Solicitor can be the Executor of your Will? What is an Executor? What is required of your Solicitor to be the Executor of your Will?
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