Thinking of nominating a person as executor of your estate because you wish to bestow him with the honour? Think again, it is not an honourable appointment but an onerous task requiring particular skill and knowledge about the law. You wouldn't ask the butcher to extract your tooth would you? Then why nominate a lay person as an executor of your estate? Although some deceased estates may be simple, the average estate could be faced with a multitude of difficulties like heirs not being in agreement about property being sold, or cash shortfalls may arise, maintenance and upkeep of property issues, disputes about claims, and so the list goes on. What if you ceded the proceeds of an insurance policy and the insurers or the bank delays settlement? What if heirs challenge your decisions regarding the method of liquidation? What if the person nominated has been declared insolvent or leaves the country? Consider all these aspects when deciding who to nominate. Take charge and get advice. Our firm will participate in Wills Week next month, so if you need a will, call us for a free consultation and simple will during that period!
