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What happens if I am an Executor and I don't want to act?
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- AuthorShivani Pabari
What is an Executor?
An Executor is someone who is legally responsible for carrying out the instructions in your Will and handling your estate. Your estate is everything you own upon your death – this includes money, investments, property and personal possessions. Executors are responsible for collecting the assets of the estate, paying any debts or taxes and distributing the assets to the beneficiaries.
If you are appointed as an Executor and you do not wish to act, there are two options available – you can renounce as an Executor or you can keep power reserved as an Executor.
What is Renouncing as an Executor?
If you do not wish to be involved in the administration of the estate, you can renounce as an Executor which means you give up your role completely. This may not always be appropriate as you cannot choose to act as Executor once you have renounced. The term used is ‘intermeddle’, if you renounce as Executor you must not intermeddle in the estate administration.
You need to complete a formal Deed of Renunciation, and once this is signed, it would be sent to the Probate Registry with the application for the Grant of Representation. It can only be withdrawn at the consent of a District Judge or Probate Registrar.
Our expert solicitors at Johnson Astills understand that this can be a complicated process, and would be pleased to assist you.
What is Power Reserved?
Executors can choose to have Power Reserved, this means you choose not to actively carry out your role as an Executor – you would not be included in making the application for Grant of Representation, or administering the deceased’s estate in accordance with their Will. However, in this case, should something happen to the remaining Executors whereby they are unable to continue acting, you would be able to step in and take on the role as an Executor.
What happens if no Executors can act?
If no Executors are willing or able to act, the Will remains legally valid, but someone must step forward to handle the estate. Individuals entitled under the Rules of Intestacy can be appointed as the estate’s Administrator.
Alternatively, if nobody entitled is willing to act as an Administrator then the Court can intervene and appoint someone to carry out this role.
Administering an estate can be a complex and difficult process – especially if an Executor is unwilling to act. Our expert solicitors are Johnson Astills would be pleased to assist in preparing a Deed of Renunciation, applying for the Grant of Representation, and supporting you to administer the estate.
Should you wish to discuss any concerns relating to an Executor that is unwilling or unable to act, please call our expert solicitors at Johnson Astills who would be pleased to assist you with this. You can call us at our office in Leicester or our office in Loughborough. Alternatively, you may prefer to email us at legal@johnsonastills.com or fill in our enquiry form.