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.
Ideally any independent who is not related to the maker of the Will. A beneficiary or a spouse or civil …
Read more Wills & ProbateYes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
Read more Wills & ProbateAn executor is the person who has to deal with the deceased’s estate. Responsibilities include: paying of the deceased’s debts …
Read more Wills & ProbateIf the estate is valued at more than the nil rate band then the estate will usually have to pay …
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 & ProbatePartners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint …
Read more Wills & ProbateTypically there are three stages to the process: Collecting the information and preparing the detailed list of assets, liabilities and …
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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