When a person dies, it is necessary for someone to be appointed to oversee the distribution of their money, property and other assets. This is the responsibility of their executor. A great deal of responsibility comes with the role of executor – here, we provide guidance on who you can appoint as your executor, as well as details about the role and how you can get assistance if someone has named you as the executor for their estate.
If you would like to discuss your specific circumstances, call us today on 0141 620 0800 or fill out our online enquiry form and a member of our team will be in touch.
Expert Wills Solicitors in Glasgow’s Southside
The executor acts as the deceased's representative – they are responsible for carrying out their wishes as set out in their Will. If the person died without making a Will, an executor will be appointed by the court. They will have the same responsibilities as they would otherwise have as a result of being named as an executor in a Will.
An executor has responsibility for collecting together all of the assets that make up the estate. They may also have to pay any outstanding debts, taxes and funeral costs from the money in the estate. Once this has been done, the executor will have to pay out financial assets and transfer possessions and other property to the beneficiaries detailed in the Will. If there is no Will, this will be done in line with the Rules of Intestacy.
Who Should you Appoint as your Executor?
In most cases, executors will usually be:
- Friends or relatives of the person making the Will/the person who has died
- A firm of solicitors or accountants
- A bank
Because of the responsibilities that come with acting as an executor, it is essential to give careful consideration to who you are going to appoint to this role. Being an executor involves a great deal of work and responsibility, so you should speak to someone first if you are considering naming them in your Will. A person who doesn't want to act as an executor has the right to refuse to do so.
You can appoint a single executor, but it is advisable to appoint more than one person. It is common to appoint two executors, but up to four people can take on responsibility for administering an estate. You might want to appoint several executors if your estate is unusually large and you feel this would create too much work for one or two people.
If you think there could be disagreements, you might consider appointing an odd number of executors. This will avoid deadlock when it comes to making important decisions about your estate.
If you do not name an executor in your Will, the court will appoint one after your death.
Get in Touch with Claphams Specialist Wills Solicitors Clarkston, Newton Mearns, Giffnock, Netherlee, Eaglesham, Carmunnock, Stewarton & Southside Glasgow
The process of administering an estate can be complicated, but the solicitors at Claphams are on hand to provide clear, straightforward advice and support, as well as acting as executors should you wish to appoint us to do so. Whether you are looking to make a Will or have been named as an executor, speak to us today to find out how we can help.
Contact us today on 0141 620 0800 or fill out our online enquiry form.
