Powers of Executors under DIFC WPR Rules

What are the powers of the executors under DIFC WPR Rules?

The executors have all the powers conferred by the DIFC Will, the DIFC Wills & Probate Registry (DIFC WPR Rules) and DIFC law.

Any person over the age of 21 years can be appointed as an executor by the person registering his Will under the DIFC WPR Rules.

Subject to the terms of the DIFC Will, the executors have all the powers of an absolute owner for the purpose of exercising their functions. In specific, the may:

1. sell, grant options, mortgage, pledge, lease and otherwise deal with or dispose of any Estate Property;
2. exchange, partition or otherwise change the character of any estate property;
3. open and deposit money in the estate in an account in a regulated financial services institution;
4. repair, maintain, develop or improve any estate property;
5. borrow money, charge any estate property as security for any liability properly incurred by them or indemnify any person for any liability properly payable out of the estate;
6. bring or defend any claim on behalf of the estate and represent the estate in any proceedings and before any person or authority;
7. compromise claims on behalf of the estate;
8. appropriate any estate property in or towards satisfaction of the interest of a beneficiary in such matter and in accordance with such valuation as they thinks fit;
9. ascertain and fix the value of any estate property in such manner as they think fit;
10. pay an amount distributable to a beneficiary who is or the executors reasonably believe is under a legal disability (including, but not limited to, a minor or person with mental disability or otherwise legally incapable of managing his property and affairs) by paying it directly to the beneficiary or his guardian (receipt of which shall constitute a full discharge) or by applying it for the beneficiary’s benefit or by managing it as a separate fund on the beneficiary’s behalf;
11. with respect to interests in a partnership, company or other business organisation, continue the business or trade and take any action that may be taken by shareholders, members or holders of any other interest that was vested in the deceased, including merging, dissolving or otherwise changing the form of the business organisation or contribution additional capital;
12. with respect to stocks and securities, exercise the rights of an absolute owner, including the right to vote or give proxies to vote;
13. deposit documents relating to the estate with any person and vest any estate property (or place it in the possession or control of) any person as nominee;
14. insure any estate property against damage or loss;
15. pay expenses incurred in the administration of the estate;
16. employ agents and delegate in writing any functions which DIFC law or the DIFC Will permit to be delegated;
17. assent or transfer any estate property to or otherwise vest it in a beneficiary;
18. permit a beneficiary to take possession of land before it is transferred to or otherwise vested in him;
19. on completion of administration of the estate, exercise the powers appropriate to wind up the administration of the estate and distribute estate property to the persons entitled to it;
20. sign all documents required to carry out their functions including signing documents in front of all competent authorities;
21. do anything that is incidental or conducive to the exercise of their functions.

The executors have the same functions, powers and discretions, including power to raise money by mortgage or charge (whether or not by deposit of documents), as an executor has under the applicable law as defined in Article 8(2)(e) of the Law on the Application of Civil and Commercial Laws in DIFC 2004.

The executors also have the power to make contracts binding on and enforceable against and by the executor for the time being of the deceased (and which may be varied or rescinded by him) as if it had been entered into by himself.

It should be noted that the above powers may not be specified in the DIFC Will itself as these powers automatically apply to the executors appointed in the Wills registered under the DIFC WPR Rules.