Executors do the work of administrating your Estate and carrying out other instructions in your Will. Appoint people you trust to comply with your wishes.
Even if a spouse or partner is chosen as a sole Executor, others may be appointed as reserve Executors.
Executors are also appointed as 'Trustees' which may involve long term management e.g. looking after money for minor children.
A maximum of 4 Executors are allowed to administer an Estate when a Will has to be proved.
Charges and fees :- Executors may also be beneficiaries but they cannot charge for their work unless they have accepted the appointment in a professional capacity e.g. as an Accountant or Solicitor. |