Selecting an executor to carry out your will
Nobody likes to talk about what will happen when they die but it’s an important conversation to have with loved ones. Executors are the people who will sort out your estate and carry out instructions from your will when you pass away. This work can be done by anyone (it could even include more than one person), but you should make sure that it’s the right person.
When you die, an executor will carry out the instructions in your will. For Family Law Solicitors London, contact https://bridgelawsolicitors.co.uk/divorce-and-family-law-solicitors/london/
Even if you have clear instructions and a simple property, it can take months to complete the job. Sometimes, the work of an executor is difficult. They may, for example, have to:
- Sell your home so that the heirs get the most money
- Pay the correct amount of Income Tax, Capital Gains tax or Inheritance Tax
Who can be an executor in a will or trust?
Anyone over 18 can be an executor in your will. No rules prohibit those who are named as executors in a will from also being the beneficiaries. In fact, it is very common.
Most people select their spouse, their partner, or their child as executor. They do not have to be removed from the will.
It is possible to have up to four executors working at the same time. However, they will need to all work together. Therefore, it may not make sense to select that many people.
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