Personally I can't think of any good reason for doing this as the other co-executor is still in place (and still a solicitor). What seems to be the problem?... Would this change be advisable ...?
The legal costs associated with executing the testator's wishes will at least double for a start and the time-scales will probably also increase with more complexity, files, correspondence, meetings, etc.... what potential problems could arise?
...... What seems to be the problem?....
Brendan, why do you say this? I ask because a relative has recently drawn up a will appointing a solicitor as sole executor and am wondering if this was a good or bad idea.I would strongly recommend against appointing any solicitor as executor.
Hi Ger
I would strongly recommend against appointing any solicitor as executor.
Appoint the main beneficiary as executor and they can take legal advice if they need it. They can choose their solicitor and they can fire them if they are dawdling.
There is no need for a solicitor to be involved. If there is a need for a solcitor it suggests that the will is too complicated and needs to be simplified.
Get the testator to change the will to remove the solicitor as executor.
Brendan
Brendan, why do you say this? I ask because a relative has recently drawn up a will appointing a solicitor as sole executor and am wondering if this was a good or bad idea.
Is the Pope a Catholic?Is it possible that solicitors may be slightly influenced in appointing themselves as co-executors so as to secure the business of execution of the will?
I don't see why this rules out a change. The co-executor could raise this matter and arrange for a simple change to be made. Ideally, someone with no beneficial interest in the will should be one to bring this up.Unfortunately, changing the will is not an option as the testator is in his mid eighties and in hospital and is happy that all is well.
In case there is some misunderstanding, a will is a confidential document and is not discussed within the family and beneficiaries unless so directed by the testator.
Otherwise nobody sees it until testator dies
Lads! Has it occurred to you that perhaps these are the testator's wishes?
Because you are giving complete control to someone who has a conflict of interest.
They often delay distributing the estate and have been subject to complaints to the Law Society.
If there is property to be conveyed, they will do so at the standard rates rather than at the much cheaper rates available.
But primarily, because they will be in no rush. If the main beneficiary is the executor, they will chase the various banks and other parties to get the information they need and see that it is done promptly.
Brendan
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