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21 April 2008

Someone has told you they want you as their Executor

Someone has just told you they want you to be their Executor. If you can't do the job tell them now.

If you want to know more about what is involved see Fast Answers on Estates from the Law Society.

The appointment often means that they trust you to do the right thing by them. See if you can sort out their assets now so that when the time comes the job of an Executor will be less complicated and also cost the Estate less in solicitor's fees.

Check these things:

  • Property - how is it owned? Is it a joint tenancy?
  • Shares - can you dispose of any of the small holdings?
  • Bank accounts - how many, too many? Is there money that should be on Term Deposit?
  • Investments - how many and can small ones be closed?
  • Valuables - what are their real worth? Try and buy one on eBay.
  • Individual items - things of sentimental value usually should go to particular people. Who?
  • Cash - does the person horde cash and where?
  • Personal papers - where are they kept? Together?
  • Will and Appointment of enduring guarian - where are the originals?

If you want help with this at this stage, get your own will updated and ask these questions of us at the same time.


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