What to do as an executor / trustee / power of attorney

Thats the cost of Registering them. It can pay to get professional help, AIUI about 30% of Registrations are rejected.

Because thicky mcthickies don’t fill the form out correctly.
 

MoleBath

LE
Kit Reviewer
Book Reviewer
You might consider 3 executors albeit 2 will do the work if all goes to plan. Otherwise if only you and one other it only needs illness or a predecease to leave you on your own.
KISS is a good principle in wills . Circumstances change over the years and wills only have a limited shelf life as a result..
 
You might consider 3 executors albeit 2 will do the work if all goes to plan. Otherwise if only you and one other it only needs illness or a predecease to leave you on your own.
KISS is a good principle in wills . Circumstances change over the years and wills only have a limited shelf life as a result..

Personally I prefer executing a will by myself. A lot less stress.

If I was down as a joint executor again I’d renunciate my appointment.
 
I won't comment on legal matters, as I'm not in the UK and not familiar with UK law. However, I have to second what @RoofRat said about getting a list of all bills, investments, insurance policies, property, prepaid funeral arrangements, etc. from them while they are still able to help you with it. One of the most time consuming parts of dealing with PoA or an estate can be just finding out what was there to deal with. If they have paper copies of bills, keep a copy in a file. At the least, make sure you have the account numbers of the bills.

If the persons whom you have PoA for are getting quite elderly and they have significant investments, see if you can consolidate their investments into one or a few institutions. That will ease your workload considerably. If the institution also gives tax advice they may be able to advise you on how to structure the investments so as to minimise taxes at the appropriate times. Much of this stuff is "easy" for people who know what to do, but it's not so obvious for someone who doesn't deal with this sort of thing regularly.

I don't know how the property registration system works in the UK, but in Canada it is possible for you to pay off the mortgage but leave the final paperwork hanging so far as the final registration with the authorities is concerned. You then can't sell the house until that is all taken care of, which can be a real pain if the paperwork goes back decades and you don't even know who held the mortgage or mortgages (there may be more than one). Check and make sure that it was actually done while the property owners are still able to answer questions about it. Make sure you have all the official paperwork for this in a file that you have access to.

I said wouldn't give legal advice, but I will make one slight diversion into that area. Think about what will happen if you die unexpectedly or are not otherwise available when it comes time to be be executor of the will or act as PoA. The "best" answer to that one will depend on your personal circumstances, but you need to have a plan for it as part of the duty you are accepting.
 
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Truxx

LE
Power of Attorney costs £82 for each on, so £164 per person.


They aren’t difficult to apply for and GP’s tend to be very good for helping with some of the health side of things. Currently running at 3-4 months from application.
2 types: money and health.

The 3-4 months must be a covid thing, when I did it, the whole process was done in a week, from downloading the forms and filling them in/getting them signed to getting then stamped and back from the Office of the Public Guardian.

I did the former (money) for/with an aged aunt and it was pretty helpful for squaring away a whole host of things not least the local authority and bank when they were being cnuts (a regular occurrence). The power of attorney dies when the person dies though which can leave a bit of a gap till probate sorted.

The one I did not do, which I should have, was the health one because in retrospect I was routinely fobbed off getting her care sorted on the grounds of "patient confidentiality" Wave a LPA in the face of the harridan from Adult Social Care however and things are a lot different.

So my advice, gained the hard way, is do it while it is easy, but keep it in reserve for when you really need it. If a person goes ga ga you can still do it, but miles easier if they consent and co-sign the paperwork.
 
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Truxx

LE
When my dad died I was the executor. He had made a will; I had a photocopy.

But when I requested the original from his solicitor (of many tens of years) they had lost it,

So no original.

I think my dad did it deliberately to p*ss me (and everyone else off)

Eventually I think I had to go somewhere and swear an oath in front of someone important that as far as I knew, the photocopy was a copy of the real thing.
 

Ravers

LE
Kit Reviewer
Book Reviewer
If your folks have a trustworthy friend or distant relative, it’s always good to have an additional executor who can act as an impartial referee. As you say, you and your sister get along fine now, but it can all turn nasty as soon as there is a bit of money involved (or in my experience, stupid worthless items that weren’t included in the will, but had sentimental value).

We’re still in the process of sorting out the MiL’s will and we buried her nearly 2.5 years ago. A close friend of hers is an executor and has been an absolute godsend in helping everyone sort shit out and stay on the straight and narrow.

Apart from anything else, she’s been the one who actually motivates everyone to get together and have meetings and go through stuff.
 
2 types: money and health.

So my advice, gained the hard way, is do it while it is easy, but keep it in reserve for when you really need it. If a person goes ga ga you can still do it, but miles easier if they consent and co-sign the paperwork.

Absolutely this, I’ve seen it all to often in my professional life where a family have squared away the LPA for Finance and Property but not done the Health and Wellbeing and then get into arguments with paramedics and doctors over end of life or admission to hospital decisions.

For what it costs there’s no logical reason not to.
 
Don't rush to pay the beneficiaries, the vultures can wait. Ensure that the estate pays off all the debts first. Then wait a while to make sure you haven't missed any.

Beneficiaries won't give you any money back and you'll still be responsible for paying the debts.
 

BlipDriver

Old-Salt
There is the option of "executor with power reserved." Two, three etc. are named, when necessary they agree that one will administer the estate, the other steps back. This way, you're covered if something happens to the first executor, & the fact that they can step back in can be used to make sure that decisions to the estate don't favour one side/family.
 
You will need two sets of powers of attorney between your parents and between each and yourself, one for health matters and the other for legal. Make sure that the house is held between them as tenants in common, so that the house cannot be sold to pay for the debts (eg medical fees) of the other.
This is actually quite a big deal.

Most homes in England are registered - when the place is owned by a couple - as Joint Tenants.

What this means is that while you both own half of it, on the death of one, the whole automatically, instantly belongs to the survivor

With Tenants in Common, the ownership is split into two distinct and separate pieces. On the first death, the 50% owned by the deceased should go to a Trust, with the survivor having the right to reside in the property for the rest of their lives.

If the survivor goes into a Local Authority Care Home, the Local Authority will often look to recoup the costs of care by selling the home of the person now in care.

The person receiving care only owns 50% of the home, and on the open market that 50% has no value, so nobody will buy it.

To check to see if a property in England is owned as Tenancy in Common, search on the Land Registry - make sure its the .gov.uk one, and pay £3 for a title search.

In the Title Register "Section B: Proprietorship Register" if entry 2 has the wording:

"No disposition by a sole proprietor of the registered estate(except a trust corporation)under which capital money arises is to be registered unless authorised by an order of the court"

It is owned as Tenants in Common.

Has anyone mentioned the need for Health & Welfare AND Property & Financial Lasting Powers of Attorney?

<<wink smiley...>>
 
Don't rush to pay the beneficiaries, the vultures can wait. Ensure that the estate pays off all the debts first. Then wait a while to make sure you haven't missed any.

Beneficiaries won't give you any money back and you'll still be responsible for paying the debts.
And if an Executor pays out before any Inheritance Tax has been settled, guess who is liable...
 
This is actually quite a big deal.

Most homes in England are registered - when the place is owned by a couple - as Joint Tenants.

What this means is that while you both own half of it, on the death of one, the whole automatically, instantly belongs to the survivor

With Tenants in Common, the ownership is split into two distinct and separate pieces. On the first death, the 50% owned by the deceased should go to a Trust, with the survivor having the right to reside in the property for the rest of their lives.

If the survivor goes into a Local Authority Care Home, the Local Authority will often look to recoup the costs of care by selling the home of the person now in care.

The person receiving care only owns 50% of the home, and on the open market that 50% has no value, so nobody will buy it.

To check to see if a property in England is owned as Tenancy in Common, search on the Land Registry - make sure its the .gov.uk one, and pay £3 for a title search.

In the Title Register "Section B: Proprietorship Register" if entry 2 has the wording:

"No disposition by a sole proprietor of the registered estate(except a trust corporation)under which capital money arises is to be registered unless authorised by an order of the court"

It is owned as Tenants in Common.

Has anyone mentioned the need for Health & Welfare AND Property & Financial Lasting Powers of Attorney?

<<wink smiley...>>

Full of inaccuracies and of little use to the OP.
 
Full of inaccuracies and of little use to the OP.
The discussion has broadened.

If you feel there are any inaccuracies, enlighten us.

Or is this just your odd BB Grr thing again?
 
The discussion has broadened.

If you feel there are any inaccuracies, enlighten us.

Or is this just your odd BB Grr thing again?

My comment was the benefit of the OP.
 
This is actually quite a big deal.

Most homes in England are registered - when the place is owned by a couple - as Joint Tenants.

What this means is that while you both own half of it, on the death of one, the whole automatically, instantly belongs to the survivor

With Tenants in Common, the ownership is split into two distinct and separate pieces. On the first death, the 50% owned by the deceased should go to a Trust, with the survivor having the right to reside in the property for the rest of their lives.

If the survivor goes into a Local Authority Care Home, the Local Authority will often look to recoup the costs of care by selling the home of the person now in care.

The person receiving care only owns 50% of the home, and on the open market that 50% has no value, so nobody will buy it.

To check to see if a property in England is owned as Tenancy in Common, search on the Land Registry - make sure its the .gov.uk one, and pay £3 for a title search.

In the Title Register "Section B: Proprietorship Register" if entry 2 has the wording:

"No disposition by a sole proprietor of the registered estate(except a trust corporation)under which capital money arises is to be registered unless authorised by an order of the court"

It is owned as Tenants in Common.

Has anyone mentioned the need for Health & Welfare AND Property & Financial Lasting Powers of Attorney?

<<wink smiley...>>
If a property is registered with joint tenants, how do you go about changing that to tenants in common?
 
If a property is registered with joint tenants, how do you go about changing that to tenants in common?

Register a severance. You don’t even need permission from the other interested parties.
 
And my comment was for the benefit of the ARRSE community.

Still not shown the inaccuracies you mentioned...

Because I’m aware there are inaccuracies. To address you own created issue and give a full accurate answer I would have to refer to legal texts, wasting time on correcting your mistakes to answer a question the OP hasn’t even asked.

I don’t need to refer to legal texts to recognise there are inaccuracies in the first place.
 
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