Re: Wills and Executors

Hi

My Ex Staff are more NSA than CIA.

CIA leaks like a sieve.

I trust them implicitly.

I do not trust Safety Deposit Boxes, my old job told me not to.

Much too easy to get access to.

I have two biscuit tins, containing Cash.

One is a payment to my Executor.

The second one is the payment for the penalty of trying to cheat my kids.

I am a good Dad, I am not necessarily a Nice Person.

There is a difference., but that is just me.

Re: Wills and Executors

My solicitors are my executors.

I don't care how much they charge, it'll come out of the estate, not out of anybody else's pocket.

I have witnessed the total carnage that can occur if a family member is made executor, with siblings accusing the executor of cheating them out of their share. I want to avoid that.

Also, contrary to what my kids think, I haven't left it all to them and by having a solicitor deal with it there can't be any arguing or challenging of my will.

One person knows where all the important stuff is, they have a key to get in with and have been instructed to get in, get the stuff and get out before the locusts descend, then let the solicitor and house clearance people deal with the rest.

Re: Wills and Executors

Am I being a bit slow?Why the need for executors to have passwords ?

Re: Wills and Executors

Bank accounts?

I have left a list of necessary passwords with my Will (with the former in a closed envelope). These documents are with the company that set up the Will, who then wrote to my executors in confirmation.

Re: Wills and Executors

They only have to take a copy of the certificate of probate to the bank .
No need for passwords.

Re: Wills and Executors

You don't need passwords to access High Street bank accounts?
From this https://www.bankrate.com/uk/current-...-when-you-die/
1. Register the death
When someone dies, you should register the death within five days.

This is the only way to get a death certificate which you must have in order to access bank accounts of the person who died.

Re: Wills and Executors

Zuleika is correct.Without the death certificate and evidence of probate (where applicable) bank accounts cannot be accessed. Bank accounts are frozen, although it has been known for payments to be taken, but it should not happen. My sister and I were executors for my mum and we were also sole beneficiaries. It took a little time and a fair amount of effort but the probate was applied for by me and we went to the court ourselves. As long as someone is accurate and willing to do it I don't think obtaining probate is difficult. My husband was executor for his mum and also his aunt. In these cases other people were beneficiaries, but in both cases things were fairly simple, yet time consuming processes. No payments for being executor were involved, although I think it is wise to ask someone beforehand as they have the right to refuse if they don't want to do it. I think then the bank and solicitors will take over and, of course, it will cost.

Re: Wills and Executors

I was my late OH's executor with my Daughter for my OH's estate. My Daughter & Son will be for mine when the time comes.

Re: Wills and Executors

Hi

You are so, so wrong.

My Dad thought the same as you, still a disaster years later.

He has over £8k in an RBS Account which they are still refusing to release.

Re: Wills and Executors

Spend it all, best you can do for the next generation is Leave the them nothing to argue, or worry about.