Re: Wills and Executors

Yes they do .

Re: Wills and Executors

That doesn’t sound right ! You are correct .
Why did you both allow this ?

Re: Wills and Executors

clear instructions for executor are a must .
If no family, a solicitor is a good idea a charge to the estate for services will be made.

Re: Wills and Executors

At around £300 an hour for dealing with an estate in some areas it’s better to try to find alternative options don’t you think ?

Re: Wills and Executors

All I know is I wasn't told as it was in solicitors hands. Even when parents knew they had not much longer to live they never discuss their financial arrangements with my sister or myself

As a bye the bye you do not have to tell a person they are a trustee of a trust fund. Strange but true, no law says you have to either that I am aware of. Think it is the same with being executors of a will

my late parents trust fund has caused no end of problems, mainly due to incompetent solicitors .

My strong advice is never ever set up a trust fund

Re: Wills and Executors

I am executrix for my father's will and despite the fact that he and my mother had done an excellent job of planning - an elegantly simple will and everything put into a trust so as to avoid probate court, it has taken up a tremendous amount of time and more than a little creative thinking at times.

I wouldn't want a penny for my efforts because I want to ensure my mom's stress is minimized and that everything is done to perfection to protect her estate. That said, if the executor is anyone but the children, I think it would be nice to do something for the executor depending on the amount of time invested. A dinner out, a day trip, or maybe some treats or meals delivered to the house would be a kindness. Even better, invite the executor to your house from time to time for a nice dinner to express appreciation and discuss how things are going.

Re: Wills and Executors

Find out how much your solicitor charges on average for a similar estate.

As you say you have no family so that avoids a lot of possible problems.
Make your bequests clear and concise , costs shouldn’t amount too much .

Re: Wills and Executors

He died in the USA, my sister his widow was there so we thought it best for her and my other BIL to sort it. He now has Power of Attorney of her affairs, she's now in England (my other sister died)I still think we should have had a copy of the will though.

Re: Wills and Executors

Hi

My will is on the Mantlepiece.

It is very simple, funeral is paid for.

My kids live abroad, Guy has epilepsy.

There are no complications, everything arranged.

Guy gets the lot, if he dies before me it all goes to my daughter.

I have 3 Executors, all ex members of staff who I trust implicitly.

All my details and passwords are in the Envelope.

They cannot be triggered until a Death Certificate is issued.

Re: Wills and Executors

Swimfeeders, that was very smart of you to leave your passwords, even better if they are left in a safety deposit box.

Unraveling some of my dad's passwords and encryption will earn me a position with the CIA.