You’re an executor – what now?
Every Will in England and Wales names an executor. It’s their job to administer the estate of the deceased person. Charlotte Clifford of Mogers Solicitors explains your responsibilities – and the practical steps involved.
If you’re named as an executor, you have a legal duty to the estate’s beneficiaries and creditors to:
- Act honestly and with reasonable care
- Treat all beneficiaries equally
- Avoid conflicts of interest
- Keep accurate records of money in the estate
- Keep estate money separate from your own
Because executors can be personally liable for mistakes, getting legal advice at the outset can help avoid problems later.
Crucially, executors have no authority to distribute the estate outside the terms of the Will. So, if a family member asks for a personal possession that the Will leaves to someone else, you cannot simply give it to them. Similarly, failing to repay a creditor before distributing the estate would leave you in hot water.
Your executor checklist
- Register the death and obtain official copies of the Death Certificate – you will need to send these to all asset holders.
- Locate the original Will and check it’s valid – seek legal advice if there is any concern about its validity.
- Check who is named as executor – if it’s not you, you cannot act.
- Arrange the funeral following the deceased’s wishes.
- Ensure any properties are secure and tell insurers if they’re empty.
- Redirect or collect post from the property.
- Obtain probate valuations for all assets.
- Identify any debts owed by and to the deceased.
- Pay any inheritance tax liability by the end of the sixth month after the death.
- Establish whether a Grant of Probate is required and, if so, apply.
- Call in the assets, pay any debts, make legacy payments.
- Prepare estate accounts and report income tax to HMRC.
Every estate is different and this checklist is by no means exhaustive. If you’re unsure about your responsibilities, the validity of a Will, tax, probate or the distribution of assets, seeking expert legal advice can help you avoid costly mistakes.
Charlotte Clifford – Mogers Drewett
Charlotte.Clifford@mogersdrewett.com