What are the Duties of an Executor ?

I am named as an executor – what do I need to do?

 

You will need to find out if the death has been registered and if a death certificate has been issued.

The probate forms need to be filled out, inheritance tax calculated and the paperwork as described above gathered. You should also check on the deceased’s property to ensure it is being taken care of and secured.

The property needs to be valued and all interested parties need to be contacted – for example banks who the deceased had accounts with. Inheritance tax needs to be paid. Once Probate is granted, contact all interested parties to inform them you are authorised to deal with the deceased’s property. You need to find out if the deceased owned any debts or owed any tax (HM Revenue & Customs can tell you this). You will need to apply for a Clearance Certificate which will certify that any inheritance tax owed has been paid. Find out whether anyone has made a claim under the Inheritance (Provision for Family and Dependants) Act 1975, as this may affect the dispositions of property to beneficiaries. You can then distribute the property from the estate and its residue. R185 forms need to be given to residual beneficiaries. When all of the estate dispositions have settled, you can close the deceased’s accounts.