Our policy relating to a user appointing one of our panel law firms as professional executor
Bequeathed is founded upon the principle of enabling users to write their own will to the extent they are able or willing to do so. Our system highlights where expert legal advice will either be necessary or beneficial. It is always up to the user to decide whether or not to seek that advice.
The same principle applies to our recommendation of professional executors.
Our system highlights to a user what is involved in administering a will and why they may consider appointing one of our panel firms as executor. It is up to the user to decide whether to appoint a Professional Executor or ask a friend or family member to take on the role.
Here is how it works:
- During the online interview, a user will be required to choose their executors (and, if appropriate, substitute executors).
- They are offered the option of selecting a spouse or partner, or any other competent person.
- Alternatively, the user may select one of our panel law firms to be the Professional Executor or substitute executor, for which a fee will be paid by the estate at the time in the future when the will is administered.
- We highlight the fact that many people do appoint a Professional Executor in order to relieve family members of the burden of managing the estate of their loved one at a difficult time.
- We also provide guidance on what being an executor entails, which can be found here, so the user may make an informed decision about what they will be asking a friend or family to take on.
- It is entirely up to a user what they decide. Most decide to appoint family or a friend.
- It is not a condition of using Bequeathed that the user select a panel firm as Professional Executor.
- Bequeathed does not get paid by a law firm depending on whether a user does appoint the firm as Professional Executor.
- None of our panel law firms will make the appointment of the firm as executor or substitute executor a condition of advising the user or acting for them in relation to making their will.
We also make it clear in the online interview that all Professional Executors, including law firms, charge for their services at the time their service is provided. The estate may be charged on any of the following bases:
- A flat fee.
- A proportion of the estate (usually anything between 1% and 5%, and possibly subject to a minimum amount).
- A fee for the work carried out as executor, charged on an hourly basis.
Bequeathed does not determine the charges made by our panel law firms for executor services. These will depend upon the work involved at the time the will comes to be administered and are a matter between the estate and the law firm.
Where one of our panel firms has been selected by the user, and its proposed fees are not acceptable to the beneficiaries when the user has died, or for whatever other reason, the beneficiaries may ask the firm to renounce the executorship. Under most circumstances, a law firm will do so.
18th June 2018