Choosing the executors of your will – the individuals who will be responsible for dealing with the administration of your estate – is an important, yet challenging, decision that requires careful consideration.
Here, we look at the pros and cons of choosing your sibling as your executor:
What does the executor of a will do?
The role of the executor includes the following:
- applying for grant of probate – the court order that allows the estate to be gathered and distributed
- identifying all of your assets and any liabilities that you may owe
- dealing with inheritance tax – even just proving that none is due is a necessary step
- reporting the estate to HMRC
- distributing the assets to the beneficiaries named in the will, in accordance with your wishes
It can include a multitude of other responsibilities, like selling properties, closing bank accounts, and potentially making decisions that may not be clearly set out in the will. The process is complex and usually takes months or sometimes longer, for high value or complex cases.
Who would make a good executor of your will?
Your executor must be someone you fully trust with your affairs and assets, who knows you well enough to make judgements based on what details you have outlined in your will. Your executor can also be one of your beneficiaries – in fact, that’s almost always the case.
The executor role is complex and involves a great deal of legal, administrative and tax work, so it’s important that the person you choose will be capable of undertaking the responsibility when the time comes.
People often choose family members or close friends as their executors, and it is not uncommon for siblings to be named as executors of a will.
Considerations to keep in mind when naming your sibling as your executor
Choosing your brother or sister as the executor of your will can be beneficial for many reasons – if you are considering your sibling for the role, it’s likely that you are close and that they will therefore know how best to interpret your wishes, as laid out in your will.
It can also help your surviving spouse or partner, to take some of the strain off them at a very difficult time. Your partner will already have many other responsibilities to deal with after losing you, quite apart from the tasks of the executor role – you can imagine the sorts of things that would be left for them to address – childcare, moving house, or dealing with your belongings as well as their own grieving.
It is clearly sensible that the person you name as your executor should be likely to outlive you, so if your sibling is significantly older than you or vulnerable, it may be wise to choose an alternative. Keep in mind, however, that you can appoint a substitute executor in case the primary executor is unable or unwilling to fulfil the role. It’s also the case that you can name multiple joint executors, however, you only really need that if there is a piece of land or a young beneficiary. Otherwise, for a simple estate, we tend to advise that you leave the responsibility to one individual to avoid any potential for a disagreement.
Remember, if you have named your executor and circumstances change, it’s vital to update your will to ensure that your affairs will be correctly sorted.
Scott Rees and Co are experienced solicitors specialising in wills and probate, and can help you make these important decisions to ensure your loved ones have the tools at hand to cope.
We offer will writing services, administration of an estate where there was no will, full probate, and we can advise on all relative matters including advice on inheritance tax (but not other taxes – we have access to another expert if you need that specialist advice alongside us), powers of attorney and probate disputes.
Contact our friendly team for assistance.