Executors and substitute Executors – the Value of Cover

You’ve created your Will, named your Executors, and feel confident all provisions are in place to cater for your loved ones after you’ve gone. But have you considered what happens if your Executors change their minds?

What if they decide they no longer wish to assume the role? What happens next to your Estate and the provisions in your Will?

These are all valid questions and ones asked hundreds of times by those seeking to ensure their Estate is given to the right people based on their wishes.

One of our legal team, Beth Quinn, provides answers to some of those important questions.

What is an Executor?

“An Executor is someone who will administer your estate in accordance with your Will after you have passed away,” she said.

“The Executors you appoint can either be an individual or a professional organisation, such as a firm of solicitors.

“Executors are often those close to you or those that you would trust to deal with your Estate once you have passed away.

“It is common to appoint two Executors, in case one of them passes away, or is unwilling or unable to act. You can appoint up to four Executors, however, Executors must act jointly so this is something that should be given careful consideration.

“If you are including minors or a Trust in your Will you must have at least two Executors.”

What happens if my executors are unable or unwilling to act?

“If any of your Executors are unable or unwilling to act, any substitute Executors named in your will may act in their place,” said Beth.

“If there are no Executors, or substitute Executors, who are willing or able to act, your Will would still be valid. However, an Administrator would need to be appointed in place of an Executor.

“They are often one of the beneficiaries, but it is a more difficult situation and should be avoided where possible.”

What is an Administrator and who takes on this role?

“An Administrator is someone who administers your estate in accordance with your Will, in place of your appointed Executors who are unable or unwilling to act,” she continued.

“The order of who has the right to administration is determined by law.

“Beneficiaries under your Will, or trustees of any of the beneficiaries of your Will, are first in the order of those that may apply to the Court for a grant of letters of administration.

“The order then continues down to those who are beneficiaries of the residue of your Estate, those who would be entitled by law to be beneficiaries of the residue of your Estate, and lastly to your creditors.”

How can I avoid this situation?

“It is recommended to discuss your decisions regarding Executors with your proposed Executors and substitute Executors to ensure they are aware of their appointment under your Will and confirm that they are willing and able to act,” concluded Beth.

“To avoid a scenario where you would have no Executors or substitute Executors who are willing or able to act, you can appoint a professional firm, such as Winn Solicitors, as one of your Executors or substitute Executors.”

If you have any queries or matters you would like assistance with, please contact our dedicated Wills, Probate and Trusts Team.

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