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.
Yes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
Read more Wills & ProbateProbate is the process of proving that a Will is valid and confirming the Executor’s authority to administer the estate …
Read more Wills & ProbateYou should both make Wills to ensure a fair division of assets if one of you dies shortly after the …
Read more Wills & ProbateTo make a Will, you have to have capacity to understand what you own, what making a will actually means …
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 & ProbateGenerally, if you own land, property or any other asset in a foreign country, you should have a Will prepared …
Read more Wills & ProbateIdeally any independent who is not related to the maker of the Will. A beneficiary or a spouse or civil …
Read more Wills & ProbateThe Court has to give permission for a Statutory will. Statutory wills can be made by Deputies appointed by the …
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