I've Been Named As Executor of a Will - What Do I Do?

Make no mistake, the Executor of a Will has an extremely important part to play in the probate process.

If you've been named Executor of a Will, then it is up to you to ensure that the instructions contained within the document are carried out and that the Estate is distributed accurately.

To help you, there are a number of tasks which must be carried out in the correct manner:

Once you're notified of the death of the individual, obtain copies of the Death Certificate and send copies to the deceased's banks, creditors and any other organisation which is either holding funds or to whom funds are owed. Locate the original Will and make copies. Find out if the deceased made any provision for their funeral, and organise the event in accordance with their wishes. Arrange with a bank to open a Personal Representative's bank account from which you can pay all fees and Inheritance Tax. Organise a probate valuation of the deceased's Estate, including their house, all of its contents, investments, stocks and shares, life policies and all other personal goods. Use a professional valuer and estate agent if you can. Make sure all the assets are documented. Speak to all those people to whom the deceased owes money and make a formal document of all their outstanding bills. Contact the Inland Revenue so that you can complete all the forms required for them to calculate Inheritance Tax liability, as well as the Probate Office, so you can complete these forms too. The Probate Office will then contact you in a number of weeks, to come in for a meeting with them. Once you have been given an amount of Inheritance Tax to pay, made sure it is paid via the Capital Taxes Office. Distribute copies of the Grant of Probate to anyone who owes money to the Estate. Distribute the proceeds of the Estate according to the Will, keeping copies of all accounts. Publish the sector 27 notices. Make sure all records are stored.

To ensure that you carry out all tasks correctly and in order, it is advisable that you work alongside a qualified, experienced probate practitioner.

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