One of the most important aspects of a Will is the executor. The executor is responsible for handling your affairs when you die. Their role is important as they have to distribute your estate according to the wishes of your Will.
The role of the executor is to handle your estate when you die. They have many responsibilities. These responsibilities include:
- Paying all your outstanding debts
- Notifying banks and utility providers about your death
- Closing all your accounts
- Pay inheritance tax
- Collating your possessions
- Contacting beneficiaries
- Distributing your estate
The executor also has to apply for the Grant of Probate before they can do all this. This is to ensure that they have the legal right to do all of the above.
Appointing an Executor
In England and Wales you can appoint anyone you want as an executor. People generally choose family members, friends, solicitors or accountants. When someone dies, it can be a distressing time and emotions can be heightened. This can be a disadvantage of having a family member or friend as an executor. An advantage of choosing a family member or friend is that you can have someone close to you fill out your wishes with more of a personal touch.
There are benefits of using a professional such as a solicitor as your executor. Some of the benefits include: it can reduce family disputes that can arise in inheritance cases, they can diffuse tension between beneficiaries, they have expert advice and knowledge of inheritance cases, and they can deal with paperwork without it impacting them emotionally.
If you are concerned that the executor of an estate is not acting correctly, contact The Inheritance Experts. We work with leading solicitors who specialise in handling executor disputes to resolve issues swiftly and fairly.
An Executor has a duty to carry out the wishes of the Testator fairly and without prejudice. Yet there are still instances of appointing an Administrator when there is no will. Accordingly, that administrator is still responsible for legally paying creditors and distributing assets of an estate to the rightful beneficiaries.
There are also times when Executors and Administrators allow their interests to interfere with their legal obligations. For instance, they may:
- Display prejudice against a rightful heir, or;
- Handle the estate in a lazy, inept or otherwise corrupt manner.
In contrast, we provide legal advice and guidance to concerned parties. Because it’s our intention to resolve disputes without going to court where possible. Talk to The Inheritance Experts today if you believe an Executor or Administrator is acting in a biased or fraudulent manner.
How We Can Help
Here at The Inheritance Experts we work with solicitors who have years of experience in all manner of inheritance cases. This includes executor services and disputes. Contact us today by filling in our contact form or by calling us on 01614138763 to speak to one of our friendly knowledgeable advisors.