What is a Power Reserved Form?
A Power Reserved Form, otherwise known as Form PA25, should be used to inform the Probate Registry that although you have been named as executor of a person’s will, you in fact do not wish to take on the role at the current time and wish to renounce the responsibility.
It is natural to feel guilty about not wishing to take on the role of executor. Although flattering to have been chosen, the weight of its responsibility should not be taken lightly. Always remember that if any part of the probate process is not carried out correctly, you as executor could be held personally liable.
If you feel that you’re not ready to take on this responsibility and wish to renounce your role in the probate process, you must do so before it begins. After this time, you could still be held accountable for any inaccuracies.
Registering a Power Reserved Form doesn’t have to be your only option, however. If you’re simply unable to dedicate the time or resource to probate, then you can still remain as executor, but delegate the task to a probate professional, who will oversee the entire procedure and ensure that all tasks and valuations are accurate and carried out to a high standard.