Choosing executors and trustees

Executors are the people named in a will who will administer the estate and make the application to the Probate Registry (local sheriff court in Scotland) for the grant that allows the estate to be distributed.

Trustees are those responsible for looking after any part of your estate that is put in trust for the benefit of others. Trustees and executors are often the same people.

You should choose executors and trustees who know you well enough to deal with your affairs in the same way you would have done had you been alive, such as members of your family. They should be people you trust, who could reasonably be expected to outlive you, and who ideally have some knowledge or experience of dealing with financial matters.

It is normal practice to give them the authority to consult and pay professionals out of the estate for the best financial and legal advice.

This is particularly important if you have left assets in trust (for example, to grandchildren under the age of 18), in which case the trustees and will have to co-operate with parents or guardians in making decisions about the children’s welfare and education, for example.

Your executors may be beneficiaries of your will but may not be under 18 at the time of your death.

Being an executor carries great responsibility, so it is advisable to let the people you have chosen know that you have nominated them.   You might also check that, if they are not professional, they understand the full extent of their duties and responsibilities and that they will be able to engage professional help (paid for out of the estate), but that they cannot charge for their own time. Using professional help is particularly advisable if the estate is likely to incur tax.

Many people underestimate the amount of work involved in the administration of an estate, and the importance of knowing and understanding the tax rules. Also, it can be hard to find the time to carry out the work, and to cope with the sudden extra responsibility in addition to grief at losing a relative or friend.

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Appointing professional executors and trustees

You may wish to consider appointing a solicitor, bank or accountant as one of your executors.  However, do bear in mind that:

• the fees charged by solicitors, banks or accountants may be a percentage of the estate, which may not reflect the amount of work involved; and
• if the administration of the estate is in the hands of a professional, the other executor (family member, for example) will have limited control over how efficient the professional is being. It is very difficult to take over the administration of an estate from an appointed executor.

Choosing witnesses

You will need two people to witness the signing of your will.  The will must be signed by you in their presence (both must be in the room with you to watch you sign).

A witness cannot be a beneficiary, or the spouse or civil partner of a beneficiary, nor can they be under 18 years of age.

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What do you own?

In order to organise your affairs so that an appropriately worded will can be drafted you need first to prepare a list of all the property that you own, and the money, savings and investments you have, plus any outstanding liabilities (mortgages, loans and other debts).

Download this list to show what you own and take some time to complete it. It will help you to create a clear picture of how your estate is made up, which will help the person who writes the will to see where tax could be saved.

Property owned outside England and Wales

If you live in England or Wales and own land or buildings elsewhere, you must make sure that you take professional advice about whether you need to write a will in that country, specifying what you want to happen to your foreign property on your death.  However, the value of the property will be included in your estate in the UK for the purpose of probate (confirmation in Scotland). It is also of vital importance to say in your foreign will that it relates only to property in that country, and also to include a clause stating that it does not take precedence over any will you have written in England and Wales.

The Law Society (see Useful contacts) can provide you with details of solicitors who specialise in this area.