Probate

It is the responsibility of the Executors appointed in a Will to administer the estate, but there is more to the role than many people realise. The moment the Testator (the person who has made the Will or given a legacy) dies, the role of the Executor(s) (person or institution appointed by a Testator to carry out the terms of their Will) begins and there are some very important initial duties:

• Securing      the assets – they are now legally responsible for the assets of the      Testator and may need to secure the property and belongings e.g. change      the locks on the property, switch off utilities etc.
• Insure      the assets – they must ensure that the house and contents are insured
• Arrange      the funeral – this is an Executor duty, but normally involves the family
• Assess      the death estate assets and liabilities
• Calculate      whether there is an Inheritance Tax liability, complete the relevant      forms, agree with HMRC and arrange to pay HMRC
• Arrange      for the Grant of Probate, which gives legal authority to the Executors to      deal with the Estate
• Call      in assets
• Pay      debts and liabilities
• Complete      estate accounts
• Distribute      the estate according to the Will

Sadly, many family members are appointed as Executors in Wills, but have no idea of the responsibility and often do not know they have been appointed in the Will until the Testator dies. The great news is that where Executors do not feel able to complete the role, we can assist you with the estate administration taking away the burden when many are grieving.