Project Interpersonal Skills for Executorship: Uk First Edition: the Awaited Companion to the Project Executor Handbook

By Conroy Corvin Ellis BA

There are many books written about estate planning but very little discussing about the impact those decisions have on connected people, individuals, and family members. The majority of books are written from a legal perspective, which assists the professional reader, such as a lawyer or barrister and not the softer side of the management of the estate. My advice for information purposes is not to draft your own will or trust but to find a competent legal firm to advise you. The purpose of this book is to equip a person with tools and techniques for situations that can happen in the real world.

This book is not intended as a self-help guide but more of a theoretical and practical approach using project management tools and techniques. This is not only to help solve a legal problem but also to introduce estate planning from a humanistic perspective. Therefore, this book is readable for a lay person who wishes and desires to research this subject in depth and take control of his or her own legal affairs during the administration of the estate. More importantly, the reader will have the right mind-set for the important obligation that rest upon their shoulders.

This book focuses on what the project executor does, what skills set he or she requires during the project life cycle, and how to manage the stages until a conclusion or desired outcome is reached.

• Language: English
• Publisher: AuthorHouse UK
• Release date: Oct 6, 2021
• ISBN: 9781546291732

Conroy Corvin Ellis BA

A PRINCE2 Project Manager by profession, Conroy Corvin Ellis BA (Hons) has over a decade of experience working in project and finance related roles within public and private sectors. He is the Managing Director/Estate Planning Consultant of Clementina Management Services set up in honour of the late Mrs Linda Clementina Ellis Deceased to provide estate planning advice from a humanistic perspective for the Executorship Advisory Service. He is also the author of the Project Executor Handbook and sought after speaker on Estate Planning issues for beneficiaries and various organisations. Conroy Corvin Ellis BA (Hons) lives in London and can be contacted through the publisher and following details Email: [e-mail] WWW.theprojectexecutor.co.uk

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© 2021 Conroy Corvin Ellis BA (Hons). All rights reserved.

No part of this book may be reproduced, stored in a retrieval system, or transmitted by any means without the written permission of the author.

Published by AuthorHouse  10/05/2021

ISBN: 978-1-5462-9171-8 (sc)

ISBN: 978-1-5462-9172-5 (hc)

ISBN: 978-1-5462-9173-2 (e)

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and such images are being used for illustrative purposes only.

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Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Contents

Foreword

Acknowledgments

About The Author

Author’s Note

Chapter 1 The project organisation and environment

What to do when someone dies

1. The Project Organisation and Environment

Stakeholder Engagement

Chapter 2 Introducing the role for Executorship

Risk Management

2 Introducing the role for Executorship

The difference between executors and administrators

Personal Managerial styles & attributes

Chapter 3 Key competence skills and requirements for Executorship

Key skills and competencies

How to be assertive in any situation

Assertive Rights

Tips For Being Assertive

Standing up for your rights

The Rules of assertion

Chapter 4 Stakeholder Management Strategy and Communication Techniques

Communication Process and styles

Problem Solving

Dealing with a problem family member

Chapter 5 Managing the estate project (The Executors Lifecycle Process)

Start Up

Initiation

Delivery

Closure

Conclusion

Appendices

Bibliography for further reading

Templates

Foreword

There are many books written about Estate Planning but very little discussing about the impact those decisions have on connected people, individuals and family members. Most books are written from a legal perspective which assist the professional reader such as a Lawyer or Barrister and not the softer side of the management of the estate. My advice is for information purposes and not to draft your own Will or Trust but to find a competent legal firm to advise you. The purpose of this book is to open the discussion of the wider role of being a layman Executor and equip a person with tools and techniques for the situations that happen in the real world and not within a legal textbook. More importantly, prevent and breach of fiduciary duty or misfeasance.

None of us want to think about our mortality and what happens afterwards. In addition, to the difficult time in sorting out your affairs and there is a risk that your wishes may not be met or carried out as you think fit.

This book is not intended as a self-help guide but more of a theoretical and practical approach using project management tools and technique to help solve a legal problem, but also to introduce Estate Planning from a humanistic perspective. Therefore, this book is readable for a lay person who wish and desire to research this subject in depth and take control of his or her own legal affairs during the administration of the Estate. More importantly, having the right mindset for the important obligation that rest upon their shoulders. It addressees the psychological gaps that affect the outcome of the administration of the estate. Anyone can benefit from this book where people factors play an important role. The book will enhance a better understanding of the ins and out of the mindset of how people think, relate, act and interact.

This book focuses on what the Project Executor does, what skills set he or she require during the project lifecycle and how to manage the stages until a conclusion or desired outcome is reached.

Chapter 1 puts this into context and sets the scene. Chapter 2 introduces the role of the Project Executor skill set in depth and the need to manage the project team and developing good working relationships between all the key project team members that could include Solicitors, Accountants, Property subject matter experts and Independent Financial Advisors.

Chapter 3 is discussing the key skills and competencies required, Chapter 4 covers the stakeholder as a beneficiary with or without an interest or being an interested party involved in the administration of the Estate. Chapter 5 looks at applying the project lifecycle approach and managing the estate as a project for a client.

In an ideal world, everyone gets along perfectly and in harmony. They will help and exercise their authority to help the project. There would be no conflicts of interests that work against the project. The reality differs from the legal textbooks and you do not have the people with all the rational characteristics, and you are working in a less than perfect situation.

In this book, I will provide some useful hints and tips wherever possible and my own personal and private experience. The main value of this book is for people contemplating being an Executor. Or considering asking someone to be an Executor.

Conroy Corvin Ellis BA (Hons)

Acknowledgments

I would like to thank Michael Awoderu for reading the manuscript and making some helpful advice and alterations.

To all my dear friends for their encouragement and enthusiasm I appreciated your support unreservedly always. To the late Mr David Samuel Ellis Deceased and Mrs Linda Clementina Ellis Deceased for the knowledge passed onto to me and you are both dearly and sadly missed.

Finally, I would like to thank my marketing team and especially Mr Frankie Lambert who acted as a catalyst and supported this project. I hope this publication become your McKenzie Friend for years to come.

Finally, you for buying and reading this book.

About The Author

A PRINCE2 Project Manager by profession, Conroy Corvin Ellis BA (Hons) has over a decade of experience working in project management. He is the Estate Planning Consultant of Clementina Management Services set up in honour of the late Mrs Linda Clementina Ellis Deceased to provide estate planning advice from a humanistic perspective for the Executorship Advisory Service.

He is also the author of the Project Executor Handbook and sought-after speaker on Estate Planning issues for beneficiaries and various organisations.

Conroy Corvin Ellis BA (Hons) lives in London and can be contacted through the publisher.

Author’s Note

Every possible effort has been made to ensure that the current information contained in this book is accurate at the time of going to press, and the publisher and author cannot accept responsibility for any errors or omissions, however caused.

In addition, please caveat acknowledge this book is not a criticism of, or to find fault with the government in any way. The legal process is what it is. Therefore, the opinions expressed are for guidance only and not a rule of law and you should seek your own legal advice wherever necessary.

These are the personal memories of the layman experience and many years of experience dealing with an administration of an estate. This book is to provide the readers the skills that can be developed by everyone. This book is deliberately written in an informal style to try to make the topic less dauting and more approachable.

1

THE PROJECT ORGANISATION

AND ENVIRONMENT

What to do when someone dies

The death of a relative or close friend is a difficult time even before you start thinking of dealing with the deceased’s financial affairs. Most people will never have been involved with an ‘estate’ previously and can become confused by a host of legal terms and procedural matters.

The process of winding up an estate can be completed quite quickly – in a matter of months – if the Will is clear, if there is not much property involved, and the whereabouts of those entitled to it are known – and there are no disputes. It can take much longer, sometimes years, if, for example, beneficiaries cannot be traced. It can also take longer if a house must be sold or there are tax questions to resolve with HMRC. Saving your executor or administrator’s time, trouble, and expense are all reasons why it is important to leave them a helpful, up to date Will and clear records of your property and beneficiaries details.

Literally, probate means proof that a will is valid. Strictly speaking the term probate only applies where the deceased left a Will, but (even though most people die without leaving a will) the term has come to be used to refer to all estates.

The grant an executor gets is called the grant of probate, and an administrator’s grant is called letters of administration. Both grants have broadly the same purpose and effect.

Acting as an executor or administrator is an important obligation, but a close friend or family member either alone or with a solicitor is often the right choice. The law takes the subject of acting as an executor or administrator (or trustee) very seriously, so much so that there are several Acts of Parliament and many other legal requirements dealing with their rights, duties and obligations. It is not difficult to see why, since executor or administrators and trustees may have control over large sums of another people’s money. However, many of these rules and regulations are designed to ensure that beneficiaries can get compensation if the executor or administrator turns out to be dishonest or careless; the normal honest and conscientious executor or administrator would regard them as common sense, and highly desirable in the interests of the beneficiaries.

It is also important to consider Inheritance Tax (IHT). Before probate is granted, the executors or administrators are required to make a return of capital assets to the tax office for the purposes of Inheritance Tax (often called death duties). It is necessary to ascertain the value of each asset, such as bank and building society accounts, insurance policies and stocks and shares, or in the case of freehold or leasehold property and furniture and jewellery, to obtain a professional opinion as to its value.

It is also necessary to consider financial transactions made during the deceased’s lifetime because if these are gifts they may need to be disclosed for Inheritance Tax purposes. Similarly, any jointly held assets or other property in which the deceased had a financial interest, such as a partnership, business or trust, must be considered as they may need to be included when Inheritance Tax is assessed.

Very briefly, the first £325,000 of any estate on death is subject to inheritance tax at 0%. This is called the Nil Rate Band (NRB). Prior to 9 October 2007, married couples were advised to make best use of both their NRBs, rather than the whole estate passing under the spouse exemption on the first death. This involved including nil-rate band discretionary trusts in their respective wills which often resulted in complex arrangements.

In October 2007, the government introduced the transferable nil-rate band (TNRB), which provides that the unused proportion of the first to die can be passed to the survivor so a maximum of £650,000 can be charged at 0% on the second death.

Couples with existing nil-rate band discretionary trusts should take advice before deciding to redraft their wills, as the flexible nature of the nil-rate band discretionary trust may have other benefits and can offer solutions to complex family arrangements, and may offer some level of asset protection.

There are also plans afoot to introduce a new residence nil rate band (RNRB)