Ordering the execution of a will makes especial sense when the heirs appear unsuitable for the execution and/or administration of the inheritance, ... read more
due to lack of experience or vulnerability (for example minors or disabled heirs). If it becomes apparent during the lifetime of the testator that the heirs have divergent interests, it can also be helpful to order an execution of the will.
The main task of the executor of the will is the realization of the testator’s last will.
In the course of an execution that winds up the estate the executor settles all estate liabilities and carries out all formalities arising due to the succession (for example termination of contracts). He ensures that conditions imposed by the testator are complied with as well as inheritance fulfilled. If there is a community of heirs he can additionally be appointed with the proper division of the inheritance.
In an ongoing execution the inheritance is managed further after the execution of the will. This form of execution of the last will makes sense when the heirs are minors or insolvent, as the assets can thus be protected from creditors.
At the end of the day the execution of a will is a matter of trust. It is important for the executor of the will to not only have the necessary professional qualifications and experience in inheritance, fiscal and if necessary corporate laws, but also the appropriate social competence in in dealing with the heirs and further entitled parties.
We will be pleased to explain further details in a non-binding personal conversation.