Executor Services

Why use a professional?

For many people, a close friend or relative is their natural choice as Executor of their Will. But they often overlook some key considerations:

• Is your chosen Executor the same age as you?
• Will they be living in the same country as you when you die?
• Do they have a busy and time-consuming job?
• Do they have, or are they planning, a family?
• Are they in good health?

These issues can have serious consequences. The Executor's role can be highly demanding in terms of time, effort and emotion. It can also bring financial pressures. For example, an Executor is responsible for the payment of any Inheritance Tax (IHT) liability before Probate is granted. And since the Executor can only realise assets and access bank accounts once Probate has been approved, this can present a ‘Catch 22' situation. They may even have to take out a loan to cover outstanding IHT before Estate funds are accessible. Would you really wish that on a friend or relative?

The Universal Trust Corporation can make sure these problems don't arise. Each year we pass many Estates through the UK Probate process quickly, efficiently and cost-effectively. So whether you want us to act in a ‘sole' capacity, in tandem with your spouse, a relative or close friend – or simply have us on hand as a backup – we cannot emphasise enough the importance of having a professional involved.