When it comes to making a Will, we all think of what we have and who we’d like to benefit. However, there’s one thing that’s arguably even more important – who should be your executor. Rosie Wright tells us more…
The importance of your executor
A Will lets you decide what you want to happen to your property. But a number of the clauses are not legally binding, such as funeral wishes and the distribution of personal property under a letter of wishes.
Similarly, it’s possible to bequeath a group, such as your children or other relatives, but to leave a degree of discretion to your executors as to the exact amounts and proportions. So it’s really important to appoint someone you trust to fulfill the role, and who will carry out your wishes where possible.
It’s a common trend for people to appoint their spouses or partners as their executor. This is sensible, as they’re the people who will understand your wishes the most. However, it’s also important to consider the worst case scenario, and to think about either appointing multiple executors, or to appoint substitute executors who can stand in if your original executor is unable.
You can also appoint solicitors, such as Franklins, to act as executors. This has the advantage of specialists in the area administering your estate with no risk of them pre-deceasing you. It does come at a cost to the estate, though, which is something to consider.
If you’d like further information about making a Will or would like to arrange an appointment to see one of our Solicitors, please contact us on 01604 828282 or send us a message via our online service.