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.
Depending on the size and complexity of the estate, these could include HM Revenue & Customs, the Department for Work …
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 & ProbateGenerally, if you own land, property or any other asset in a foreign country, you should have a Will prepared …
Read more Wills & ProbateThe intestacy rules would apply to your estate and your partner would receive nothing under these.
Read more Wills & ProbateA personal representative is simply another name for someone who is an Executor or if there is no Will, is …
Read more Wills & ProbateOnly if there are serious disagreements between beneficiaries and/or the people making the Will.
Read more Wills & ProbateFirstly you will need to break the news to friends and relatives, register the death and organise the funeral. It …
Read more Wills & ProbateYou can include gifts of personal belongings in your Will. However, if you would like a more flexible way of …
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