“Choosing the right executor is one of the most important decisions you make”, state. An executor is the person responsible for administering your estate and carrying out your final wishes. Other duties of an executor include filing court papers to start the probate process, taking an inventory of everything in the estate, using your estate’s funds to pay bills, including taxes, funeral costs, etc, handling details like terminating credit cards, and notifying banks and government agencies about the death, distributing assets to the beneficiaries named in the will and other responsibilities, pertaining to the estate. While choosing the right executor can remove some of the burden from your family when you die, choosing the wrong one can create considerable problems, as are cent case showed.
A woman had appointed two executors to administer her estate; one of the executors was her son, the other one was a professional. The relationship between the two was poor and the professional accused the son of neglecting his mother and began making demands of the son to explain withdrawals from the woman's building society account prior to her death.
He even proceeded to carry out an investigation against the son and even informed the police, but after investigation, no grounds were found on which any action could be taken. The professional did not stop there; he then raised bills on the estate for this work and invited the son to take a lesser share of the estate.
Needless to say, this resulted in an argument that ended up in court, when the son refused to countenance the charges.
The High Court had to consider whether the bills were fair and came to the conclusion that they were excessive and the investigation work was not warranted at all as the beneficiaries under the will had not requested an investigation to be carried out. Besides, the Court considered that doing so was not part of the co-executor's duties.
The professional was faced with a considerable legal costs order and was also removed from his position as co-executor.
Finding the right executor is very important as it helps ensure the prompt, accurate distribution of your assets, while minimizing family friction. Always choose someone who is honest, well-organized, dependable, good with paperwork and vigilant about meeting deadlines, suggest.
For most people, the obvious choice is a family member, especially a spouse or child, however, if an obvious family member is not available, you may want to ask a trusted friend, but always try to choose someone in good health who will hopefully be around after you’re gone.
Also, if the person you choose needs help settling your estate, they can always call on an expert like, who will guide them through the process and help them make the right decisions.
The experts at CurryPopeck have a vast amount of experience of dealing with all issues relating to Wills, Probate and Estate Administration matters, thereby helping to protect your interests and give you peace of mind.
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