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The short answer is yes. An executor can also be a beneficiary of a Will, and this is a common and perfectly legal scenario. However managing executor conflict of interest can be challenging.
In England and Wales, anyone over 18 (at the time of the deceased’s death) can be an executor. They can also benefit from the Will, provided they didn’t witness the Will when it was signed by the deceased.
An executor who is also a beneficiary doesn’t automatically have a conflict of interest because they are set to inherit a share of the estate under the Will. However, it’s important to note that an executor who neglects their duties can be held personally responsible for any losses the beneficiaries suffer.
It’s crucial for an executor who is also a beneficiary to avoid conflicts of interest during the estate distribution. If this seems challenging, the executor can consider appointing a probate professional to oversee the estate’s administration.
An example of a conflict of interest could be if the Executor wishes to purchase property from the estate.
To comply with the executor’s duties, they must still look out for the beneficiaries’ best interests and achieve the best price.
However, they would be conflicted between acquiring the property at the lowest price.
Executors need to remember that they are expected to show the highest standards of conduct and are not permitted to benefit personally without authorisation from other stakeholders.
Before taking any action, you should consider if you are acting in the best interests of the testator’s wishes and the interests of other executors and beneficiaries of the estate.
The following tips may help you avoid conflict of interest whilst acting as an executor:
Lastly, don’t forget about arranging Insurance to protect those administering the estate and the beneficiary’s inheritance against claims from others who feel they should have benefited from the estate.
Arranging the right Insurance can also protect those administering the estate from claims from the beneficiaries, such as if they have not arranged insurance at all or the estate is underinsured. In either scenario, those administering the estate could be liable to the beneficiaries for any losses. If you are also a beneficiary, the other beneficiaries could demand this money be repaid from your share (if you have enough to cover the loss).
So, protect yourself and the other stakeholders administering and/or benefiting from the estate with insurance.
You can learn more about the cover available or buy a policy from the following pages:
Avoiding executor conflict of interest can be a complex but manageable situation. By prioritising clear communication, acting in the best interests of the estate, and considering professional guidance and insurance when needed, you can minimise conflict and ensure a smooth probate process.
Remember, if you have any doubts or concerns, consulting with a qualified solicitor specialising in estate administration is always the best course of action.
If you have any other questions on what is involved when acting as an executor visit our executor guide page.
Disclaimer: This article provides general information only and should not be construed as legal advice. The laws regarding estate administration can vary depending on your jurisdiction. If you are named as an executor in a will, it is important to consult with a qualified Solicitor in your area to ensure you understand your duties and obligations.
Hi, I'm Rob, CEO and Founder of Insuristic. My mission is to make insurance easier to understand and buy online.
I hold an Advanced Diploma in Insurance (ACII) which demonstrates I have a solid technical understanding of Insurance and have committed to continuous professional development. I am also a member of the Chartered Insurance Institute and hold the a Chartered Insurance Broker status.
Over the last 27 years, I have worked for insurers, insurance brokers and insurance technology businesses, specialising in product, sales and marketing.
You can find out more about me on my author page.
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