Renounce executor ?

A question about : Renounce executor ?

Hi all

Sorry if this has been answered previously but I had a search through the forums and can't find it.

I am a named executor, (the person is not yet deceased but nothing will change) the estate will be insolvent due to a large loan outstanding and no property etc.

I've been advise not to be executor as it's bad news on insolvent estates, which suits me due to family disfunction, however will I need to officially renounce if grant of probate isn't needed anyway due to low value?

Not a fab situation to be in, but trying to be prepared.

Best answers:

• I don't think you need do anything unless someone actually asks you to renounce.
  Do nothing that could be construed as administering the estate
• You can just refuse to administer the estate or you can formally renounce as executor.
  Are there other executors named in the will?
• His daughter and her mother (exDW1) want to do it - not named as executors.
  I suspect they think I'm hiding some cash, but sadly I'm not, there is none. Good luck to them I say.
• does the person have mental capacity? If so, I would suggest that you tell them now that you would prefer not be an executor (you don;t have to tell them why)
  If that is not possible, or if they do not change the will, then yes, you can refuse to act and can renounce provided that you do not take any steps at all to deal with the estate.
• Who are the residual beneficiaries?
  In the absence of willing named executors they are next in line to act.
  Not much point in anyone else doing it unless they can get paid as they still have to distribute to beneficiaries.
  If they want to take over then just give them all the information you have collected to determine that the estate is insolvent.
  Now or when the time comes.... "Thanks for taking over here is what I know........"
  Talk to xyzzy so you are in agreement.
• But there is nothing left to distribute.... However DD as she keeps reminding me is the next of kin and would have received a small payment had there been anything left, so it's probably down to her anyway.