The role of an executor is crucial.

Often, clients find themselves wondering if executors can also inherit from the estate they are managing. It's a question that highlights the delicate balance between responsibility and personal gain. In this blog, we'll explore the common query of whether executors can inherit and shed light on why, in reality, there's no inherent conflict between the roles of executor and beneficiary.

Understanding the Roles

Before diving into the question, let's clarify the roles of an executor and a beneficiary.

An executor is appointed by the deceased individual to carry out the terms of their will, ensuring that assets are distributed according to the deceased person's wishes. Beneficiaries are individuals who stand to inherit from the estate.

The Common Question

Clients often ask, "Can an executor also be a beneficiary?"

At first glance, it might seem like a conflict of interest. After all, isn't an executor responsible for ensuring an impartial distribution of assets?

The Legal Perspective

Contrary to what might be perceived, there is no legal prohibition against an executor also being a beneficiary. In fact, it's quite common for individuals to appoint family members or close friends as executors, and these same individuals may also be named as beneficiaries in the will.

Why No Conflict?

Separation of Duties

The key to understanding this apparent duality lies in the separation of duties. While the executor manages the distribution process, they do so based on the clear instructions laid out in the will. Their role is administrative, ensuring that the deceased's wishes are carried out.

Legal Safeguards

Legal systems are equipped with safeguards to prevent abuse of power. Courts oversee the probate process, ensuring that the executor acts in accordance with the law and the will. Any deviation from these guidelines can be legally challenged.

Personal Integrity

Executors must approach their role with a sense of duty and personal integrity. They should understand the responsibility placed upon them and strive to execute their duties impartially, irrespective of their status as beneficiaries.

How do I choose an executor?

It is very common for beneficiaries and family to act as Executors as they are likely I know what you own and the people you Trust.

An executor must be over the age of 18 and should be someone who is responsible, organised, financially savvy and doesn’t mind lots of paperwork and phone calls. 

You do not have to appoint a professional to act as an Executor, but you might choose to do so. Professionals have the time and expertise to settle an estate efficiently and remove the stress from your family. 

If you have any questions about Wills, LPAs or probate & estate administration, please get in touch. 

Why use a legal professional to draft your Will?

A legal professional will consider your personal circumstances AND your financial and tax position to avoid your estate paying more than necessary. They'll also advise how to provide for children after your death, including naming a guardian and putting protective trusts in place for tax reasons or for your children or a vulnerable family member.

A Will should use clear and unambiguous language. All the beneficiaries must be correctly identified and included. A will writing professional will also ensure that your documents are signed and witnessed in the correct legal way to ensure they are valid.

One of the most important reasons to take advice is so your chosen firm's legal advisers would also be able to confirm your intentions and your capacity if these were ever questioned. Taking time to understand your wishes and ensuring you understand what you are signing is essential. If the validity of your Will is questioned, they can provide evidence of 'due execution' and the circumstances prior to and during the signing of your Will.

A clear, well-drafted, professionally written Will is less likely to be the subject of a court case against it. A homemade Will can be easier to challenge as those who have been left out may feel that they have more of a chance of successfully doing so.

The cost of making a Will is a tiny fraction of the expense and disruption of a legal dispute. To give yourself peace of mind and reassurance for your loved ones, we recommend having your Will drawn up by a legal specialist. Ask for a referral from friends or family you trust. Look for a firm that is a member of a recognised regulatory body, such as the Institute of Professional Willwriters or the Society of Trust and Estate Practitioners, and can demonstrate competence, credibility and appropriate insurance.

Please note that information provided on the Carisma Wills website:

• Does not provide a complete or authoritative statement of the law;

• Does not constitute legal advice by Carisma Wills;

• Does not form part of any other advice, whether paid or free.