Skipton offers help for will executors

For the 40% of people in the UK who have written a will, choosing an executor to carry out their wishes once they’re gone can be hard – especially as the complexities of modern life mean estates are becoming less straightforward to administer.

In recognition of this, Skipton Building Society has launched an estate administration and trust service to help executors with what can be a difficult task at a stressful time.

Steve Aldous, sales & marketing manager at Skipton Building Society, said, “People writing wills often put down a valued friend or close family member as their executor, without realising just what a big responsibility it can be. Being an executor comes with lots of legal implications, such as identifying everyone who is entitled to a share of the estate (as they may not all be listed in the will), being personally liable should money be paid to the wrong beneficiary or ensuring all debts, liabilities, taxes and the funeral costs are paid.

“If someone’s estate is quite complex, for example if they re-married, had children from a previous relationship, or owned more than one property, the pressure to get everything right can be even greater – which can create a lot of additional stress at a time of bereavement.

“So our new estate administration service aims to take away some of that pressure by helping the executor apply for probate, sort out the deceased’s affairs and distribute the estate. Or, if the person writing the will doesn’t want to burden their friends or family with the task, Skipton can be named as the sole executor and do everything from start to finish.”

Key Features – estate administration and trust service

The service is available from the Society’s 79 branches throughout the UK, or more details can be found at skipton.co.uk

The service can also:

set up and manage a trust when one partner dies and others types of trust

arrange finance to cover the initial costs of inheritance tax

help with the sale of any property

offer professional indemnity insurance

The service is offered by Skipton Trustees Ltd, a subsidiary of Skipton Building Society

The charge for administering the estate is 3.5% of its value, plus VAT

The service is in addition to Skipton’s will writing service, originally launched in 2005 offering single wills, mirror wills and discretionary will trusts.