IWC Estate Planning & Management Ltd. Regulated by the Society of Will Writers & Estate Planning Practitioners Registered Office: Suite 43-45 Airport House, Purley Way, Croydon, CR0 0XZ. Registered in England No. 4532330

Should You Hire A Professional Executor?

If a will has been written, then an executor (or sometimes more than one, depending on

circumstances) will have been named in it. It is the executor's role to ensure that probate runs

smoothly, that all the deceased's wishes are adhered to, that the funeral is planned, that debts are

paid, and that all beneficiaries receive their share of the inheritance. This is not an easy task, nor

is it a quick one.

Being an executor is potentially very time consuming, especially if there are probate issues or a

problem with the will itself. It can cause arguments and ill feeling. It can also, if the executor is a

close friend or family member of the deceased, be emotionally difficult as well. Since probate

must be carried out reasonably swiftly, it can be that the executor is simply grieving too much to

be able to give the job their full attention. Others may find that the extra work is exactly what

they need to keep their mind from their sad bereavement.

If it is the former, rather than the latter situation that you find yourself in, it is possible to step

away from your role as executor, as long as you have not 'intermeddled'. However, someone else

must take on the responsibility; and they must agree to it. You cannot simply name someone else

and hope that they will take on the task.

But what happens if there is no one else to be executor, and you really cannot take on the role

yourself? That is where professional executors come in. It is possible to hire someone to take on

the responsibility of executor - someone who has done the job many times before, and who

knows exactly how to go about it. This is especially useful if there is property to be sold, and tax

to be paid. Professional executors will understand how to set up trusts, how to value an estate,

how to deal with bonds and shares, how to deal with potential claims against the estate, and how

to possibly find beneficiaries who may be hard to trace.

This is a practical way to ensure that probate is handled correctly. However, the fees for such

services can be high - sometimes as much as 5% of the entire value of the estate, as well as

hourly charges and legal disbursements.

IWC offers a fixed fee for this service, which will work out much less expensive than traditional

solicitors' fees, as well as giving you peace of mind that everything is running smoothly. Contact

us for more details.

Call us for a quote, instant help or impartial advice on Freephone

0800 612 6105 or 020 8150 2010