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.
If you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
Read more Wills & ProbateThe intestacy rules would apply to your estate and your partner would receive nothing under these.
Read more Wills & ProbateYou can set aside money for her using a Discretionary trust, which will not affect her entitlement to state benefits.
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 & ProbateThe Court has to give permission for a Statutory will. Statutory wills can be made by Deputies appointed by the …
Read more Wills & ProbateYou can appoint one or more relatives or close friends to act as guardians and assume parental responsibility. Always discuss …
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 & ProbateThis is the term used to cover everything that needs to be done to deal with an estate. It involves …
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