Have you chosen the right executor or will your beneficiaries have to sue?

Have you chosen the right executor or will your beneficiaries have to sue?

Have you chosen the right executor or will your beneficiaries have to sue?

by | Inheritance

Choosing your executors may seem obvious, but have you picked the best person for the job?

Your executor will be expected to administer your estate.  This means they are responsible for clearing any debts and ensuring creditors that the deceased had are paid off.  They then endeavour to distribute the remaining money or property to the dead person’s wishes.

Have you chosen someone who is good with paperwork?  Are your executors good with money?  Are they calm in the face of bureaucracy?  Will they have your best interests at heart?  Do you trust them?

Did you consider their age and location?  Will they outlive you?  Will they be around to work with local government and embassies if you are still living abroad?  Would they be able to get on a plane to supervise your bodies repatriation?

Or have you simply named your immediate family because isn’t that what everyone does?

England High Court figures released in 2016 revealed that claims against executors for mishandling estates have tripled over the last year.  Cases of fraud and theft from estates are on the rise.  UK legal media have highlighted the preference of the public to select family and friends and the use of DIY wills as a likely cause for the increase.  Also the ever increasing value of property may bring remote relatives out of the woodwork and make greedy people act illegally.

You may not feel nominating a professional is a necessary or justifiable expense.  It might be a saving in the long term.  Just  make sure the person you do nominate is someone you trust.

 

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"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK...

Jenny Pearson, Consultant, Cambodia

2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK tax specialist) to keep my English and Cambodian assets completely separate. Cindy was able to work through all of that with me and I am confident that I now have everything properly covered."
"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and...

Jayne Hilton, Engineer, UK

2018-06-05T08:30:28+00:00

Jayne Hilton, Engineer, UK

"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and was always on hand to offer guidance and support. All in all an excellent service."
"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a...

Jim Swander, CEO, Cambodia

2018-06-05T08:37:50+00:00

Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid...

Moray Iles, Vietnam

2018-06-05T08:42:23+00:00

Moray Iles, Vietnam

"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid putting pressure or hassle to complete the Will quickly which allowed us to consider everything in our own time. Best of all, Cindy's professional support and thorough and clear explanation of the laws pertaining to our situation were very helpful. We would look forward to working with Cindy again on documents personal to our family."
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