Choosing an executor for a US will
#1
Just Joined
Thread Starter
Joined: Feb 2019
Posts: 3
Choosing an executor for a US will
My husband and I are originally from the UK and have been living in the US for 18 years. We are dual British-American citizens. All our family (except our young children) live in the UK, but all are assets are located in the US.
We are having trouble figuring out whom we should nominate as the executor of our wills. We don't feel comfortable asking any of our acquaintances here in the US to take on such a personal task, but equally we don't know how a family member in the UK could manage the process from there.
Has anyone else been in this situation, and what solution did you come up with?
We are having trouble figuring out whom we should nominate as the executor of our wills. We don't feel comfortable asking any of our acquaintances here in the US to take on such a personal task, but equally we don't know how a family member in the UK could manage the process from there.
Has anyone else been in this situation, and what solution did you come up with?
#2
Re: Choosing an executor for a US will
May be Overkill for your situation, but my credit union will manage a trust and execute on it upon death. You'd have to move all your assets into it before you die with an attorney. All of this will of course cost $$$.
#3
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Choosing an executor for a US will
We were in the same position and now have the Trust Department of a local community bank set up as executor. They were recommended to us by our lawyer. We did not have to transfer any of our assets to them.
#4
Forum Regular
Joined: Oct 2014
Posts: 110
Re: Choosing an executor for a US will
I'm thinking exactly this question at the moment without any of my family being Stateside. I went along to have a talk with a Will maker a couple of years back and then after the visit remembering reading reviews or something where a relative with similar qualifications had 'dipped' into clients estates. Kind of stopped me moving forward at the time. I'm in the central Florida area so would be interested in suggestions.
#5
Forum Regular
Joined: Aug 2011
Posts: 211
Re: Choosing an executor for a US will
Find a young lawyer in your area that you like. I'd think most any general practice attorney would be willing to serve as an estate executor.
#6
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Choosing an executor for a US will
That's what I thought, but when I asked my lawyer he said that he could not do it. It contradicted some ethical standard for lawyers. I'm not sure if that was due to him having drawn up our wills. It may also be a state requirement that does not apply in other states.
#7
Forum Regular
Joined: Aug 2011
Posts: 211
Re: Choosing an executor for a US will
That's what I thought, but when I asked my lawyer he said that he could not do it. It contradicted some ethical standard for lawyers. I'm not sure if that was due to him having drawn up our wills. It may also be a state requirement that does not apply in other states.
#8
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Choosing an executor for a US will
As in #3 above I used a local community bank, on my lawyer's recommendation.
#9
BE Enthusiast
Joined: Nov 2012
Posts: 902
Re: Choosing an executor for a US will
Who is/are your Attorney(s) under both your US durable power and your UK enduring powers? Would you use the same person(s)?
#10
Re: Choosing an executor for a US will
Executors should be trustworthy and durable - think banking institutions (not individuals) that have been around for 100 years or more. Selecting individuals, including lawyers as an Executor, is fraught with potential issues -we never know what is around the next corner.
Advice to the contrary should be treated with much skepticism i.e. if the lawyer executing your will or trust suggests himself, a colleague or even another unconnected lawyer/professional as an executor - run for the door.
Advice to the contrary should be treated with much skepticism i.e. if the lawyer executing your will or trust suggests himself, a colleague or even another unconnected lawyer/professional as an executor - run for the door.
Last edited by vikingsail; Feb 8th 2019 at 2:15 pm.
#11
Forum Regular
Joined: Mar 2012
Posts: 78
Re: Choosing an executor for a US will
Executors should be trustworthy and durable - think banking institutions (not individuals) that have been around for 100 years or more. Selecting individuals, including lawyers as an Executor, is fraught with potential issues -we never know what is around the next corner.
Advice to the contrary should be treated with much skepticism i.e. if the lawyer executing your will or trust suggests himself, a colleague or even another unconnected lawyer/professional as an executor - run for the door.
Advice to the contrary should be treated with much skepticism i.e. if the lawyer executing your will or trust suggests himself, a colleague or even another unconnected lawyer/professional as an executor - run for the door.
#13
Re: Choosing an executor for a US will
Er, the business units of both those banks actually still exist, merged into other banks. In both cases the banks were split into multiple units and sold to several different new owners, and the business units continued to operate under new owners.
I agree there are examples of banks that have actually been shut down and their business activities ceased, but neither of those banks are examples of a bank that was shut down entirely.
I agree there are examples of banks that have actually been shut down and their business activities ceased, but neither of those banks are examples of a bank that was shut down entirely.
#14
Re: Choosing an executor for a US will
My husband and I are originally from the UK and have been living in the US for 18 years. We are dual British-American citizens. All our family (except our young children) live in the UK, but all are assets are located in the US.
We are having trouble figuring out whom we should nominate as the executor of our wills. We don't feel comfortable asking any of our acquaintances here in the US to take on such a personal task, but equally we don't know how a family member in the UK could manage the process from there.
Has anyone else been in this situation, and what solution did you come up with?
We are having trouble figuring out whom we should nominate as the executor of our wills. We don't feel comfortable asking any of our acquaintances here in the US to take on such a personal task, but equally we don't know how a family member in the UK could manage the process from there.
Has anyone else been in this situation, and what solution did you come up with?
As MD said above a bank may have discontinued trust activities, or been sold to a new owner with trust operations in another state, so not able to act conveniently and locally, or a lawyer may have moved, or died, or got out of the trust/executor business. The possibilities are almost endless.
Last edited by Pulaski; Feb 12th 2019 at 8:38 pm.
#15
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Choosing an executor for a US will
On retirement I came to a part of Scotland where I had no friends or family and where I knew no one. After some reflection I asked one of the senior Freemasons in the area. Anno, I am NOT "on the square" !