If you have been nominated as an executor in someone’s Will this means that they want you to take care of their estate after they pass away. However, just because you have been nominated does not mean you have to carry out these duties. This article explains what to do if you have been nominated to be an executor but are not in a position to or do not wish to carry out the duties of an executor.
Duties of an Executor
Being an executor is a big responsibility. The executors will collect in, and administer the deceased person’s estate according to the law. This means they will collect the assets, such as bank accounts, savings, and property and pay off the debts, such as taxes and bills. They will then distribute the estate to the beneficiaries named in the Will.
If there is any inheritance tax to be paid the Executors will have to work out what tax is owed and pay the tax bill within a time limit set out by the government.
Turning down the position of Executor prior to the death
If you are nominated to be an Executor you do not have to say yes. You can refuse