I have been appointed as an Executor under a Will – what are my options?

Many believe that just because they have been appointed as an Executor, they are obliged to act in that role however that is not always the case. When an individual has been appointed as an Executor, they have the following options available:-

1. Proving Executor. The named Executor can firstly act as what is called a ‘proving Executor’ which means that they would take up their role as the Personal Representative, and actively deal with administering the estate of the individual who has passed away. This will include making decisions, being party to the application for the Grant of Probate and property sale transaction, and winding up the estate/paying the balance to the Beneficiaries.

1. Power Reserved Executor. An appointed Executor can step back from that role and be what is called a ‘Power Reserved Executor’, which means that the person is not actively involved in the estate administration process and will not be required to make decisions/be party to the application for the Grant of Probate but that individual could step back in and act at any time should they wish to do so for any reason. Having Power Reserved is basically a postponement of the right to act as an Executor. If any Executor wishes to have Power Reserved, a formal notice must be served on them by the other Proving Executors before a Grant of Probate can be applied for.

1. Renounce – the third and final option available to a named Executor is that individual could completely Renounce their entitlement to act as an Executor. This is done by entering into a Deed of Renunciation, which must be signed by the named Executor and witnessed. This option is the least flexible as the Executor who has renounced cannot step back in and act as an Executor in the future. This may lead to complications in estate administration if the remaining Executors cannot complete the administration for any reason due to incapacity. The option to renounce is only available if the individual has not ‘intermeddled’ in the estate, which means that the individual should not have taken any active steps to deal with matters relating to the administration. If you have ‘intermeddled’ and still wish to step back, then having Power Reserved is the only an option which although does not allow you to completely sever your duties as an Executor, this will allow you to step back and not take an active role in dealing with the estate.

If you are unsure of your responsibilities as an Executor and wish to find out more about your duties and/or options in respect of acting, contact our experienced team of Wills & Probate Lawyers on 0800 015 0340 for expert advice.