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Will writing
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Trusts
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Probate
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Lasting power of attorney
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Inheritance tax
Duties of an Executor
What is the executor of a will?
The executor is the person named by the will writer who is responsible for dealing with the estate. If no executor is named, or they are unwilling or unable to act, an administrator will take on this role. The identity of the administrator is determined by a fixed order of priority.
What duties do they have?
Applying for probate: a Grant of Probate is a legal document that gives you permission to administer the estate
Announcing the death: you’ll need to let asset holders know about the deceased
Paying debts and taxes: any outstanding debts or payments must be paid from the estate before it’s distributed
Distributing the estate: sharing out the assets as per the will’s wishes
Can I claim expenses from the estate?
You’re not entitled to payment for your time, but you can claim expenses for what you needed to fulfil your requirements as an executor.
These include:
Travel expenses
Legal fees
Telephone costs
Postage costs
Can I be held liable for any mistakes?
Yes, you will be held personally liable for any mistakes you make or any losses you cause the estate. This is why it’s advised to work with a legal body.