An executor is the person responsible for carrying out the wishes in someone's will after they die. It's a significant responsibility that includes applying for probate, paying debts and taxes, and distributing assets to beneficiaries.
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The Main Duties of an Executor
1. Registering the Death
While often done by family, the executor may need to help arrange this. You'll need the death certificate for most tasks.
2. Finding and Securing the Will
- Locate the original will
- Check it's the most recent version
- Store it safely until probate
3. Valuing the Estate
You must identify and value all assets:
- Property
- Bank accounts and savings
- Investments and shares
- Personal possessions
- Pensions and life insurance
- Business interests
And all debts:
- Mortgages
- Loans and credit cards
- Utility bills
- Outstanding taxes
4. Applying for Probate
Submit the probate application to the Probate Registry. This gives you legal authority to deal with the estate.
5. Reporting to HMRC
Complete inheritance tax forms, even if no tax is due. Pay any IHT within 6 months of death.
6. Collecting Assets
Once you have probate:
- Close bank accounts and collect funds
- Sell investments if needed
- Claim life insurance and pensions
- Sell property if required
7. Paying Debts and Expenses
Pay in this order:
- Funeral expenses
- Administration expenses
- Secured debts (mortgages)
- HMRC (taxes owed)
- Unsecured debts (credit cards, loans)
8. Distributing the Estate
Once all debts are paid, distribute assets according to the will. Get receipts from beneficiaries.
9. Preparing Estate Accounts
Keep detailed records of everything received and paid out. Beneficiaries can request to see these.
How Long Does It Take?
| Task | Typical Time |
|---|---|
| Getting grant of probate | 8-12 weeks |
| Simple estate (total) | 6-9 months |
| Complex estate (total) | 1-2 years |
| Property sale involved | 12-18 months |
Can Executors Be Paid?
Executors can claim reasonable out-of-pocket expenses:
- Travel costs
- Postage and phone calls
- Valuation fees
- Professional advice
Executors typically DON'T get paid for their time unless:
- The will specifically allows payment
- All beneficiaries agree
- They're a professional executor (solicitor, bank)
What Happens If You Don't Want to Be Executor?
Being named in a will doesn't force you to act. You can:
Renounce
Formally give up the role before taking any action on the estate. You can't renounce after you've started acting.
Appoint Power Reserved
Let other executors act for now but reserve your right to join later.
Executor Liability
Executors can be personally liable for mistakes:
- Distributing too early: If you pay beneficiaries before all debts are identified, you may have to pay the difference
- Missing beneficiaries: You could be liable if you don't find all rightful beneficiaries
- Tax errors: HMRC can pursue you for unpaid tax
- Poor investment: If you manage estate assets negligently
Multiple Executors
If there's more than one executor:
- You must all agree on major decisions
- All must sign the probate application
- One can act alone for routine tasks (with others' consent)
- Up to 4 executors can apply for probate
Getting Professional Help
Executors can instruct solicitors or probate specialists to do the work. The estate pays for this. Consider professional help if:
- The estate is complex
- There's property to sell
- There might be inheritance tax
- Beneficiaries are difficult
- You don't have time
- You're not confident in the role
Frequently Asked Questions
Can an executor also be a beneficiary?
Yes, this is very common. Many people name their spouse or children as both executor and main beneficiary.
What if the executor dies before the person who made the will?
If there's a replacement executor named, they take over. If not, the remaining executors act, or the court appoints an administrator.
Can an executor be removed?
Yes, but only by the court for serious reasons - fraud, incapacity, or complete failure to act.
Do I have to use a solicitor?
No, you can do probate yourself. But for anything complex, professional help is advisable.