Crosswords2 mins ago
Joint Executors
I am a widow and have a will naming my daughter and son as executors with everything left equally to them. My daughter now lives abroad. Will this cause difficulties executing the will? Or can an executor act independently?
Answers
1 to 5 of 5
There are a number of things that can happen here:-
15:16 Wed 08th Feb 2012
There are a number of things that can happen here:-
Your daughter could agree that your son administers the estate and takes no active part in the administration. She can agree to have "power reserved" to her so that at any time she could become involved in the administration but to all intents and purposes your son acts alone.
Secondly, your son and daughter could take the grant in their joint names and then they jointly administer the estate. The difficult is, there could be delays in having the papers signed because of having to post them abroad.
Thirdly, your daughter could appoint someone in the UK to act as her attorney and take a grant with your son for her "use and benefit". The attorney and your son could then act jointly.
(Taking teh Grant refers to getting the grant of probate which is the authority from the probate registry allowing the estate to be administered).
Your daughter could agree that your son administers the estate and takes no active part in the administration. She can agree to have "power reserved" to her so that at any time she could become involved in the administration but to all intents and purposes your son acts alone.
Secondly, your son and daughter could take the grant in their joint names and then they jointly administer the estate. The difficult is, there could be delays in having the papers signed because of having to post them abroad.
Thirdly, your daughter could appoint someone in the UK to act as her attorney and take a grant with your son for her "use and benefit". The attorney and your son could then act jointly.
(Taking teh Grant refers to getting the grant of probate which is the authority from the probate registry allowing the estate to be administered).
It will not matter if one of your executors lives outside the UK as long as they can return to carry out your wishes when the time comes to do so and are aware they are executors. If your son & daughter are your main beneficiaries it makes a lot of sense to appoint them as executors, the most important matters will be that the will is correctly made, witnessed by non beneficiaries and that your executors know where to find the will.
Your daughter might be well advised to check the tax laws of the country she is living in. Whether or not inheritance tax is paid on your estate, she may still have to pay income tax on the money she is to receive, if she receives it abroad. Both of you might need to consider whether your daughter should leave the money in an English bank account, or in some other UK investment.
1 to 5 of 5
