Why should I appoint MG Legal Solicitors as the executor of my Will?
Selecting the right executor of your Will is a very important decision. Essentially, they will be the ones in charge of sorting out all of your finances, assets, and other belongings after you have passed away. In recent years, it has become more popular than ever for people to appoint their personal solicitor, or another solicitor that they can trust, with being the executor of their will. There are a number of reasons why this may be more beneficial than appointing a relative or a friend, and we have highlighted some of these points below.
What does an executor of a will do?
There are a number of responsibilities involved in being the executor of a Will.
Collecting all of the assets of the person who has died
Notifying third party companies of the death
Closing any bank accounts necessary
Arranging the selling or transfer of any property
Paying any outstanding bills or taxes out of the estate value
Accurately distributing the estate and money to the beneficiaries in accordance with the Will
What are the benefits of appointing a solicitor as the executor of my Will?
Everybody feels differently about the appointing of an executor for their Will. Some see it as a personal role, and therefore reserve it for a close family member or friend. However, others recognise the complexities of the role, and seek the expertise of a Wills and Probate solicitor to take on the responsibility.
1. Take the burden off of loved ones:
As previously mentioned, taking on the role as an executor of a Will comes with a lot of responsibility. Many people think that they are making a sensible decision by appointing a close relative or friend, but in the long run, they may be causing this person a large amount of stress.
The person in question may well agree to take on the responsibility at the time, but when their close relative has passed away, and they have all of this extra responsibility while they themselves are grieving the loss of someone close to them, it can often become overwhelming.
For this reason, more people than ever are now deciding to appoint a local solicitor who can deal with the process professionally, quickly, and without any emotion attached.
2. Prevent family disputes:
Another problem that our clients often run into when initially appointing a family member as the executor of their Will is unwanted family disputes and tensions. The appointment as an executor can essentially take away the impartial position of a family member, and others may feel that one has been favoured over another. By appointing a professional solicitor for Wills, you can allow them to take control without any family members becoming involved.
3. Avoid mistakes:
With so many responsibilities, it is not uncommon that Will executors can make mistakes throughout the process, and it can be costly for these mistakes to be corrected by the court.
When you appoint our specialist solicitors for Wills, you cut out this risk. There isn’t anything that our experts haven’t seen when it comes to Wills, and they will give each task the attention that it needs without other life responsibilities getting in the way, as a family or loved one might experience.
How much will it cost to appoint a solicitor as the executor of my Will?
You can appoint our expert solicitors to be the executor of your Will free of charge. If the time comes that we must act on this, here at MG Legal, we offer all of our services at a fixed-fee rate. This means that when we come to act as the executor of your Will, after you have passed, there is no need to worry about your loved one being burdened with extra or hidden costs. We are completely transparent from the start.