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 both make Wills to ensure a fair division of assets if one of you dies shortly after the …
Read more Wills & ProbateUp to 4 executors can act at a time. At least two executors are needed if their might be a …
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 & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
Read more Wills & ProbateThe Court has to give permission for a Statutory will. Statutory wills can be made by Deputies appointed by the …
Read more Wills & ProbateThere are several options for protecting your children’s inheritance if you die before your spouse/civil partner/partner. The choice can depend …
Read more Wills & ProbateAn executor is responsible for looking after your money, property and other assets after your death and carrying out the …
Read more Wills & ProbateYou need to make a statement saying why you think the Will should be written as you suggest. The Court …
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