If a person dies leaving a Will, they will have nominated executors to administer the estate, collect any debts, pay any tax and distribute the assets as instructed in the Will.
What Specifically Does An Executor Have To Do?
- Register the death (if they are next of kin) and obtain copies of the death certificate.
- Confirm any wishes that are expressed by the deceased or select and commence funeral arrangements (again, particularly where they are the next of kin).
- Locate the original Will and any accompanying instructions or related documents.
- Complete the documentation required by the Inland Revenue to establish the amount of Inheritance Tax due. A Grant of Probate cannot be issued until any tax liability has been discharged.
- Contact all relevant organisations. This might include banks, building societies, insurance
- companies, employers, local authorities, Benefits Agency, creditors debtors, Inland Revenue etc. Copies of the Grant of Probate should be sent to all who owe money to the estate.
- Draw up a full schedule of all the deceased’s assets and arrange their valuation of the house, contents, investments, personal belongings etc.
- Distribute the estate in accordance with the terms of the Will and prepare and sign accounts confirming this.
