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 & ProbateThe intestacy rules would apply to your estate and your partner would receive nothing under these.
Read more Wills & ProbateYes, an executor may be a beneficiary in your Will and it is often appropriate that the main beneficiary is …
Read more Wills & ProbateYou are responsible for taking charge of the property, money and belongings. You will be held personally and financially responsible …
Read more Wills & ProbateMarriage will cancel your Will unless it was prepared in expectation of the event. Getting divorced will not cancel your …
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 responsible for looking after your money, property and other assets after your death and carrying out 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 …
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