Urban myths and misconceptions about Wills, probate and inheritance have been around for generations. But have you stopped to think about whether there is any truth to any of them?
Myth #3: My executors and my beneficiaries cannot be the same people.
This is false. It is actually very common for the executors of a Will to also be beneficiaries.
Your executors are simply the people who you are authorising and wish to make responsible for administering your estate according to the terms of your Will. There is no rule to say that people who inherit your estate cannot also be executors.
It is up to you who you wish to appoint as executors. Some people appoint their family, friends, solicitors, banks, trust corporations or other professionals. You can appoint a combination of all of these, should you wish.
The only restrictions on who can act as an executor is that they need to be over the age of eighteen at the time the Probate needs to be applied for.
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