As an executor of a will, your main responsibilities are to: Locate and secure the assets You will need to locate and secure the assets of the deceased, including property, bank accounts, investments, and personal possessions. Pay debts and taxes You are responsible for paying any debts and taxes that the deceased owed, including any outstanding mortgages, credit card balances, […]
What is my job as the executor of a will?
Personal risks in being an executor
The executor to an estate has the job of winding up someone’s affairs after their death. It is a job that involves both responsibility and personal financial risk. After someone has died, their executor, named in their Will, has the role of administering their estate and ensuring that the beneficiaries receive everything to which they are entitled. It is important […]
What to do if an executor is not taking steps to administer an estate
After a death, the estate’s executor or administrator has the job of winding up the deceased’s affairs. We take a look at what happens if they fail to carry out their role. The task of administering an estate can be time-consuming and is often complex. Where an executor or administrator is not coping with the job or is simply not […]
What are the duties of the personal representatives?
The administrator can be held financially liable for any loss resulting from a breach of duty, even if a mistake is made in good faith. Being named as Executor in a Will or being appointed on intestacy can involve complicated, difficult and time-consuming duties which often take up to a year to complete. It is crucial to get everything right […]
Do I Have To Act As An Executor If Named In a Will?
Administering a relative’s will can be a traumatic experience, but it’s not a role you are forced to do, even if you have been appointed to take on the task by the deceased relative in his or her will. There is a process available if you want to withdraw your rights to take on this task. It’s called renunciation and […]