Why appoint an HSBC Private Banking executor?
An executor’s role is likely to involve considerable work. For larger estates, which may be spread over multiple jurisdictions, the execution may well take many months or even years and require high levels of legal and professional expertise.
Professional executors will make sure that all assets are collected, all debts are appropriately settled and that the net assets are properly distributed after a person’s lifetime, in line with their will.
If the next generation is still young, professional trustees can ensure the administration of the estate in the best interest of the child or children.
Appointing a professional executor can also avoid conflicts of interest, particularly between family members. It can help minimise confrontations among the beneficiaries of an estate, and provide the continuity that an individual executor cannot offer.