When you act as an Executor you are expected to act reasonably and act in the best interests of the estate and its beneficiaries.
This could involve getting a fair price for any assets being sold, ensuring that relevant insurance is in place to protect any property assets and to ensure that all Inheritance Tax (IHT) owed is paid prior to the distribution of the estate.
It is advisable to advertise the death. This allows anyone who is owed any money by the estate to be paid in full. If you don’t do this, you could be liable if someone makes claim against the estate after it has been distributed.
You should record your contribution and the way in which you would like the future proceeds of sale to be …
Read more Wills & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
Read more Wills & ProbateA Will allows you to specify who you wish your estate to pass to upon your death. If you have …
Read more Wills & ProbateConsider giving your wife a lifetime right to benefit from your estate. This will enable her to carry on living …
Read more Wills & ProbateUnlike an intestacy, where children must take their inheritance at 18, if you make a Will you can specify at …
Read more Wills & ProbateThe answer is No. It is a common misconception that when a person dies their debts die with them. When …
Read more Wills & ProbateWhen you act as an Executor you are expected to act reasonably and act in the best interests of the …
Read more Wills & ProbateYes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
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