When you make a will, one of the most important decisions is choosing your executor. This is the person who will carry out your wishes after you die. Appointing the Public Trustee as the executor of a will is one option that may be worth considering.
Most people choose a family member, friend, or a professional like a solicitor to sort out their money. This normally includes paying their debts, and passing on what’s left to their chosen heirs. But what happens if there’s no one suitable, willing, or able to take on this important role?
Office of the Public Trustee In London (Google Earth)
Choosing the Public Trustee as Executor
There’s a little-known option in the UK in the form of the Public Trustee. This is a government office that can act as an executor or trustee in certain situations. They could step into the gap, when there is no appropriate private individual. Or manage an estate when there is a need for extra protection of heirs.
Appointing the Public Trustee as executor of an estate can be especially helpful in complex situations. Or if the people who inherit from you may struggle to manage money on their own. The Public Trustee Act of 1906 may provide for this, if one or more of the following applies:
Role of Public Trustee in Deceased Estates
The Public Trustee, if nominated and accepted, performs the same duties as any executor. These tasks include:
- Applying for legal authority to proceed, called probate.
- Listing the assets (money, property, and possessions)
- Paying debts, taxes, expenses, and other obligations.
- Distributing what remains of the estate to beneficiaries.
In simple terms, appointing the Public Trustee as executor of a will means they step into the deceased shoes. They wind up their financial affairs and make sure their wishes are followed through.
Appointing the Public Trustee as Executor
You must name the Public Trustee as your executor in your will. You should also send them a copy of your will and explain your situation. However – and this is important – the trustee does not automatically accept the role.
They make the final decision after your death, when they review whether the appointment is appropriate. This means you should think carefully about alternatives, and possibly name a backup executor if you can.
The Executor’s Role is Not Open-Ended
There are limits to what the Public Trustee will take on. For example, they may not accept their appointment if any of the following apply:
- The deceased estate was running a business
- The estate is insolvent (more debts than assets)
Such situations may require specialised, or more hands-on management beyond the scope of the Public Trustee.
Money Matters And the Public Trustee
Appointing the Public Trustee as executor of an estate does not mean the estate will escape administrative expenses. If the Public Trustee agrees to act, then they charge a fee taken from your estate. This is usually calculated as a percentage of the value of the estate.
This is similar to how professional executors like solicitors work. However, it does mean that your beneficiaries will receive slightly less overall, than if you appointed a friend.
The Inevitable Rolls Out
There is no turning back now. You made your decisions and you die with them. After your death, the Public Trustee first checks whether someone else is suitable to act. If they find a suitable person they may step aside. Even if not, they still have the right to refuse the role.
But if they do decide to go ahead, then they will administer your estate precisely in line with your will. This is a good time to ask this question. Is appointing the Public Trustee the executor of your will the right option for you?
- Appointing an individual you trust remains the best approach for many people.
- But being an executor requires time, organisation, and emotional strength.
- While at the same time it also allows someone who knows you to manage your affairs.
- Appointing a solicitor you know, and trust as a friend is worth considering too.
This is why so many citizens regard the Public Trustee as a last-resort safety net. At least, if you don’t have someone suitable, your estate will still be handled properly and legally.
Helpful Advice from Avery Associates
Writing a will is about clarity and peace of mind. Choosing the right executor is central to that thought. If you’re unsure whether anyone in your life can take on the role, then appointing the Public Trustee as executor of your estate offers a reliable alternative (although not a guaranteed one necessarily).
The keys are forward planning, understanding your options, and making sure your wishes are carried out smoothly. Ensuring that your will is precise can be the best counter for bureaucracy.
Avery Associates can help you value your prized possessions, so your heirs receive them evenhandedly. Reach out to us now to discuss your needs.
