Why Appoint a Professional Executor?

Before appointing friends or relatives as the Executors of your Will, please take the time to read through some of the reasons why you may wish to reconsider your decision.

Many people choose relatives or close friends as their Executors but being an Executor can be a difficult and time consuming job and has to be carried out at a time when they may not feel up to the task.

You should bear in mind the following:

·         The role of an Executor carries some legal liability

·         Decisions made by the Executors could prove unpopular with your beneficiaries

·         They must notify all parties concerned.

·         Obtain valuations of all estate assets owned (including properties)

·         They would need to settle any debts and pay any outstanding utility bills.

·         Calculate and arrange payment of any Inheritance Tax due.

·         Submit R27 to HMRC and register any income tax due and make full settlement.

·         Prepare and submit the Estate Accounts

·         Apply for the Grant of Probate and later register the Grant with all relevant organisations.

A professional Executor is the best choice, particularly if any of the following apply:

·         Where there are multiple assets such as: bank accounts and savings, shares, bonds and  investments.

·         Where a property is to be sold or conveyed

·         Where the estate is of a high value

·         Where there is a business or the deceased was a partner in the business.

·         Agricultural Property

·         Family trusts or large gifts to under 18’s

·         Where a potential claim under the Provision for Family and Dependants act 1975 by someone who feels unfairly treated by the Will, or by the rules of intestacy.

·         If the Will is badly drafted, or beneficiaries cannot be traced.

Most professional Executorsand in particular banks charge high fees for acting as an Executor (anything between 3 and 5% of the estate value plus an hourly charge for all the administrative work undertaken, plus the usual legal disbursements) and can be difficult to contact to see how things are progressing.

Where Legacy Planning are different.

Legacy Planning use the services of Countrywide Tax and Trust Corporation Ltd to act as professional executors on their wills. Countrywide Tax and Trust Corporation Ltd is different in both the way they look after their clients and the fees they charge.

  • A highly trained and sympathetic Case Handler will be assigned to administer your estate.
  • Your case handler can arrange to visit your next of kin in the comfort of their own homes.
  • An up to date progress report can be obtained from your Case Handler at any time.
  • Their senior staff are all affiliated members of The Society of Trust and  Estate Practitioner (STEP).
  • Their fees are extremely competitive within the market place.

Countrywide Tax and Trust Corporation Ltd offers a FIXED FEE of just 1.5% of the estate value, where they are appointed as Executors at outset. They will issue a Certificate which is your LIFETIME GUARANTEE that this price will remain fixed until Probate is required, whenever this may occur.

Where Countrywide Tax and Trust Corporation Ltd are appointed following the demise of the Testator, a slightly higher rate of 1.75% will be applied.