Executors

Executors are people who are given the task of ensuring that your wishes are carried out after you're gone. It's largely a thankless task and you should think carefully about who to appoint. Executors may be your children, a solicitor, or a bank. They can themselves be a beneficiary to the will.

Professional executors will charge a fee, ranging from perhaps around £500 upwards, although some banks and solicitors will charge a fee based on the percentage value of the estate.

Banks may charge you between 2% and 5% - give careful consideration to what the charges may eventually be. If you don't appoint executors, your next of kin will usually be the people responsible for administering your estate.