A focus on Wills - Executors and Beneficiaries

Welcome to the second blog of our comprehensive blog series that delves into the intricate world of Wills and estate planning. In this thoughtfully curated collection, we aim to demystify the complexities surrounding Wills, offering insightful guidance and expert advice. Whether you’re a first-time planner or looking to revisit your existing arrangements, join us on this journey as we explore the crucial aspects of Wills, from understanding the legal nuances to practical tips on effective estate management. Our series is designed to empower you with the knowledge needed to make informed decisions about the future, ensuring your wishes are respected and your loved ones are well taken care of. Let’s embark on this enlightening exploration of Wills together.

For this blog, we are going to assume there is a Will in place. Partner Lesley McKnight answers her most-asked questioned about Beneficiaries and Executors.

What is a Beneficiary and an Executor?

The beneficiaries named within a deceased’s Will are entitled to inherit from the estate. This may comprise a specific item, a sum of money, a share of the estate of the residue, everything left after payment of expenses, debts, and any bequests.  

The executor is the person named in the Will with duties and responsibilities for the administration of the deceased’s estate and is accountable to the beneficiaries. They must be over the age of 16. While only one executor is necessary, it is strongly recommended that at least one other is named.  

Can an Executor also be a Beneficiary?

Yes, they can, and it often makes sense to have our nearest and dearest not only inherit our estate but also deal with the administration.  

Who can see the Will?

Strictly speaking, only the executors (or a beneficiary inheriting the whole estate) are entitled to see the Will until it becomes a public document by registration or Confirmation. Beneficiaries may also see the Will with the agreement of the executors.  

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