A full and detailed description of each item and asset left in your Will is vital and should be included in the Will because your Executors might not find things as obvious as you do. Exactly which ring belonged to your great Aunt? If they are not sure, then they will not be able to pass it on as you wished.
You should very carefully choose your own “Executors.” These are the people who will carry out your instructions and make sure that your property goes to whom you intended.
Now, it is really important to consider who you want as your Executor. Did I stress that enough? Really, really important. Were you thinking of using a bank or a solicitor? Prepare to see a very large portion of your assets go to the bank or solicitor if you choose them as an Executor. It is quite a natural thought to name a Solicitor or a bank as your Executor but I have personally found a solicitor to be slow and extortionately expensive both in my own immediate family and other’s affairs.
So, what do you do if you do not use a Solicitor as Executor? After all, this is a legal process and surely a Solicitor is needed.
Not so!!!!
Administering a Will is really not difficult and you can obtain a great deal of help from the Probate Office who you will find most efficient and understanding. They have all the information that you need to administer the Will and most people’s affairs are pretty straight forward.
So, you can quite simply choose a family member to be the executor and they should be able to carry out this function for you quickly and easily. Make sure that you ask them first as it might come as a surprise later on if you do not.
You should also choose someone who is not only willing to carry out this task for you but who is likely to be alive when they are needed and who is also unlikely to move away before hand. An Executor can also be a Beneficiary and you can appoint more than one Executor to work together and share the load, if you wish.
Should they not have time to carry out the work themselves then they can always ask for help – at least they have the choice if they named as Executor. I would recommend a service offered by someone other than a bank or solicitor if your Executors want someone to carry out the work for them. A much cheaper and more efficient Probate Service is available at www.willdrafters.com