No executors willing to act on late mothers will

[leela]

All three executors named in my mum's will are renouncing their executorship, due mainly to age and health issues. The estate will be small (but not simple to manage or take to probate, hence their reluctance) while the care debt to the council is huge. So my sibling and I are reluctant to take this on as it will be a lot of work and stress with no return.

As the council is the major creditor, I'm told that we can just hand the whole thing over to them. It's that the case? It's there any downside to doing this?

[atticus]

Are you saying that the estate is insolvent and that there is nothing in it after this debt is paid for anyone to inherit? If so, the council can apply to court to make an Insolvency Administration Order.

The downside - if this be a downside - is that you lose control.

[leela]

My mum's bank account has less that £10k in it, and she has a land fund investment that was £50k but as far as I can tell is now close to worthless. When I googled it, all I found was that people were sueing their FAs for mis-selling it.

Her care debt is approx £300k. So basically, at best there'd only be 20% of what the council will be after, and nothing at all for my sibling and I to inherit.

As far as loss of control is concerned, what kind of control might we regret not having?