Choosing executors and trustees
An executor is a person/persons specified in the will to
administer the estate and apply to the Probate Registry (local
sheriff court in Scotland for the grant that enables the estate to
be distributed.
Trustees are those responsible for looking after any part of
your estate that is put in trust for the benefit of others.
Trustees and executors are often the same people.
Your nominated executors and trustees should be someone you
trust to be able and be willing to deal with your affairs. Ideally
it should be someone who is expected to outlive you and has some
knowledge or experience of financial matters.
It is standard practice to give them the authority to consult
and pay professionals out of the estate for the best financial and
legal advice. Employing the services of a professional is
particularly advisable if the estate is likely to incur tax.
This is also particularly important if you have left assets in
trust (for example, to grandchildren under the age of 18), in which
case the trustees and will have to work with with parents or
guardians in making decisions about the children's wellbeing.
Your executors may be beneficiaries of your will but may not be
under 18 at the time of your death.
Choosing witnesses
You will need two witnesses at the signing of your will.
The will must be signed by you in their presence.
A witness cannot be a beneficiary, or the spouse or civil
partner of a beneficiary, nor can they be under 18 years of
age.
What do you own?
In order to organise your affairs so that an appropriately
worded will can be drafted you need to prepare a list of all the
property that you own, and the money, savings and investments you
have, plus any outstanding liabilities (mortgages, loans and other
debts).
This list will help you to create a clear picture of how your
estate is made up and this will help the person who writes the will
to see where tax could be saved.
Writing your last will
and testament
Claims Financial
Testimonial
"I just had to put pen to paper and write to say I'm more than delighted with my settlement that you won me back from my PPI I had with Lloyds TSB. The Claim Forms were simple to fill in. It was a breeze"
Mr R Evans 11 Nov 2010