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Am I Legally Responsible If Things Go Wrong As Executor?

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.