When writing your Will, one important decision that many people overlook without serious consideration is who should execute their Will. An Executor of responsible for determining a person’s Estate, pay any liabilities including Inheritance Tax (where applicable) and distribute the Estate in accordance with the Will. Therefore, it is important to choose someone you can trust and is capable of handling this role.
Whilst many consider their family members or close friends to be their Executor, there are several benefits to using a Solicitor instead. In this blog we will look into the reasons why considering a Solicitor to be your Executor can be a smart choice.
- With their expertise, professionalism and impartiality, a Solicitor can provide your loved ones with peace of mind that your financial affairs and final wishes are being handled with care and efficiency.
- A Solicitor is a trained legal professional, experienced in handling the complex process of administering a Will and distributing the Estate’s assets. They are is privy to the requirements and procedures involved with Probate and will ensure everything is handled smoothly.
- A Solicitor is also bound by professional standards and Codes of Conduct, therefore you can be sure that your Executor will act with utmost integrity and care.
Instructing a Solicitor as your Executor can ensure impartiality and independence; a Solicitor is not emotionally involved with the process and can make decisions that family members may find difficult. This can be particularly important where there are disagreements between family members and how the Estate should be distributed. This is becoming ever more common, as we see non-traditional family units develop.
It is worth noting that there may be a cost involved with using a Solicitor as your Executor, as they are entitled to charge a professional fee for their services. However, the cost of this may be offset by the peace of mind and security that they provide.
