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executor of a willWhen you have made a will, there needs to be someone who can carry out your wishes. This person (or organisation) will have the task of gathering together all the assets of the estate (i.e. money, property and possessions) and sorting them out in accordance with your wishes. After payments have been made in respect of debtors, funeral expenses, etc. the remainder of the money can be divided and subsequently transferred to the parties who it is to be left to. Property and possessions are likewise transferred.

 

Executors can be anyone and are usually friends or relatives. There is care and responsibility that goes with the job and additionally there may be a lot of work if the estate is not a small affair, so choose carefully. If they do not wish to be burdened with the task, they are quite at liberty to refuse. However, executors are not limited to just relatives or family members. The most commonly appointed executors in the legal world are solicitors, accountants and banks.

 

If you do decide to appoint someone who is a friend or relation, choose more than one in case that person dies. It is common to appoint two, but up to four is acceptable. If there is no-one to perform the duties when the time comes, then it automatically becomes a legal matter and the courts become involved.

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