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New Estate planning feature: Executor consolation specification with financial advisers or accountants

Updated: Jun 27

It is common for people to have a professional relationship with an accountant, financial adviser or lawyer who has played an important role in accumulating or protecting your wealth during your life. However, many accountants and financial planners decline to accept the office of an executor because of either a conflict of interest, risk of liability or that their professional indemnity insurer does not cover their role or function as an executor.

In these circumstances, you may still want a trusted financial advisor or accountant to play an important role in guiding or advising your executor, particularly if you have had a long-standing relationship with your adviser, who is well acquainted with your affairs.

With this in mind, you can specify in your will that your executor must consult with your nominated financial adviser or accountant during the administration phase of your estate and before they exercise any power or function as executor or trustee to ensure that your affairs are properly managed, particularly relating to any assets that have unrealised capital gains tax liabilities. Without such a clause, your executor is not bound to either consult with or follow the wishes of any of your advisors relating to the administration of your estate.

Executors consult feature is now available at the as part of Inherit Executors bot (all users) and generated drafts (lawyers only).

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