Should you be scared about being an executor?

There's no doubt about it, being an executor is a big responsibility.

Many people feel comfortable about taking on such a risk.

After all, would your husband have had financial secrets?

Some people, who were an attorney for an ageing Aunt, feel sure that they are well aware of the financial situation, as they've been managing it for years.

Others, feel it's a whole mine field. They're conscious they have no idea what might be unearthed. They know the financial papers are not all kept together, and it's only a matter of time before they come across something concerning. And who knows what money is owed to various undesirables.

Another concern if you're an executor in someone's Will, is the people you'll have to manage. And some of those will have expectations about how quickly money should be released.

You'd be surprised by how many beneficiaries suddenly need the money to pay for a new kitchen that they hadn't even designed, let alone ordered, but which has been delivered, following a death.

I've always encouraged families to have a free chat and empower themselves to make an informed decision about what's involved and whether they feel able to tackle an estate.

That hasn't changed.

And part of making an informed decision means ensuring you understand it's a personal responsibility. If you go a certain way down the journey of sorting out an estate, and don't want to carry on, you can be accused of intermeddling.

And that means that you need to make a decision one way or the other, reasonably early on.

If you'd like to lean on someone with the experience and expertise to chat through your options in a meaningful way, give Jane a call on 01727 840 240 (option 3) or drop me a line at [email protected] to set up a time for a telephone meeting.

We're not here to win business. We're here to help you make the right decision for you and your family.