Wills are vital in ensuring that the people or organisations that you want to benefit from your estate are able to, otherwise the rules of intestacy will come into force which may result in your estate being distributed differently than you would have liked. However, the language used in will writing may not always be accessible which results in people getting deterred from the process. One of the questions, we receive rather often is if an executor can inherit from a will.
What is an Executor?
When making a Will, a person must choose their executor or executors. An executor is the person who will oversee your estate after you have passed, and will have a number of duties such as:
Making sure any property you owned is secure, as soon as possible.
Collecting all assets and money due to your estate.
Paying any outstanding taxes and debts out of the estate.
Distributing the estate to the people who are named as beneficiaries in the Will.
Being an executor involves a lot of work, and can be a lengthy commitment. Therefore, we advise people to think carefully about who they would trust to take on the responsibility of the role.
If you are entitled to receive an inheritance from someone’s estate following their death, this person is known as a beneficiary.
Can an Executor be a Beneficiary?
A beneficiary is a person in your Will who will benefit from your estate and has no duties to administer the estate. However, it is not unusual for an Executor to also be a Beneficiary. The only people who cannot be beneficiaries under a Will are those who witnessed the Will when the deceased signed it.
Can an Executor inherit from a Will?
Yes, an Executor can be a beneficiary of a Will. Additionally, it is quite common for the main beneficiary of the estate to be one of the Executors.
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