Help for Executors

At a Glance: The Main Duties of an Executor

As an executor of a Will, your responsibilities typically include:

• Identifying and valuing all assets and liabilities
• Reporting estate values and tax information to HMRC
• Applying for the Grant of Probate
• Paying debts, expenses, and any Inheritance Tax due
• Managing property and other assets
• Dealing with sale or transfer of assets
• Dealing with division or sharing of assets between beneficiaries
• Dealing with personal tax returns of the deceased
• Preparing estate accounts
• Distributing the estate to beneficiaries in line with the Will.

Even straightforward estates can become complex — particularly where tax, property, or overseas assets are involved.

Executor Responsibilities and Duties Explained

As an Executor of a Will, you are responsible for applying for the Grant of Probate, establishing the nature and value of the assets and any liabilities, considering the terms of the Will and distributing the assets as the Will instructs, submitting detailed information to HM Revenue and Customs and reporting any changes in value to assets, dealing with Income Tax, preparing accounts for the estate, and considering the deceased’s domicile or residence for Inheritance tax at the time of death.

Obtaining the Grant of Probate

A Grant of Probate gives the Executors of the Will authority to handle the estate. When someone dies without a Will, the people given authority to deal with the estate are instead called Administrators, and instead of a Grant of Probate, they need a Grant of Letters of Administration.

If there is a mistake with your application, however small, the Probate Registry will query it, delaying your application and preventing you from accessing bank accounts and carrying out other essential tasks. This can be very distressing. Our expert probate solicitors will complete the application correctly and push for a quick turnaround.

Before the probate application can be made a return for Inheritance tax has to be submitted, any relevant tax allowances claimed, and if tax is due the Inheritance tax due on delivery of the account paid.

Establishing the Nature and Value of the Assets

This means fully understanding how many assets there are, where they are, and what they are; for example, property, savings, or valuables. You need to be certain that you have taken everything into account and that everything has been valued correctly. There are penalties for submitting incorrect information to HMRC.

Liabilities

Liabilities are any debts or money owed by the person who has died. You must consider any bills and debts that must be paid from the estate. If you do not settle these debts before you pay money from the estate out to beneficiaries, you might be responsible for paying the debts yourself, so it is vital that you have a firm grip of what needs to be settled.

Interpreting and Carrying Out the Terms of the Will

When someone dies and leaves a Will, it is up to the Executor(s) to ensure that the wishes outlined in the Will are carried out. It will be up to you to arrange the sale or auction of valuables and to divide assets, including any property, as the deceased wished. As specialists in both probate and conveyancing, we help with all aspects of probate, including selling any property, which can be a relief to our clients. We have connections with trusted auctioneers, valuers, and estate agents, and can help you value and sell off any assets.

Sometimes the terms of the Will may cause problems. The Will may be out of date and fail to include recent family members, such as grandchildren, or the inheritance may trigger tax issues for a beneficiary. In certain cases, you may be able to change a Will after death. Our experts can review the deceased’s Will and advise you on any issues it may raise. If the Will can and should be varied, we can create a Deed of Variation.

Considering the Deceased’s Domicile at the Time of Death and Any Overseas Assets

If the person who died lived abroad, was born and had lived in another country, or owned assets such as property abroad, you must consider the deceased’s domicile or residence for Inheritance tax. This can be comcplex and requires careful consideration, and may differ for Income tax residence, be different from where the deceased was born or living at the time of death.  

You may need to deal with foreign laws and taxes to manage the person’s overseas assets. Different countries have different rules around inheritance, property, and tax. Our expert probate team is experienced in handling overseas estates and has managed complex probate cases across multiple countries. If you need our help with an overseas estate, speak to us now.

Distribute Assets to the Beneficiaries

Executors must collect and distribute the assets to the beneficiaries as stated in the Will. This involves gathering information on all beneficiaries, contacting them, obtaining their bank details, and distributing their inheritance. From experience, this can get quite complicated depending on how many beneficiaries there are and where they are.

It can also get heated, with beneficiaries demanding to know where their inheritance is while you are dealing with the sale of property, tax returns, debt payment, and many other aspects of the probate. Many of our clients choose to save time and stress — and keep their relationships with beneficiaries intact — by instructing us to collect and distribute assets to beneficiaries.

Preparing and Submitting a Detailed Account of the Assets for Tax Returns

In addition to valuing and selling assets and dealing with any property, Executors are responsible for submitting the Inheritance Tax Return and Estate Income Tax Return to HMRC. If you make a mistake on your returns, you will be accountable to HMRC and will be liable to penalties.

Many estates have unexpected complications around valuing assets. It is important to ask yourself whether you would know what to do if a house in the estate sold for more than its value at death, or if the value of the shares changed. There are detailed rules, allowances, revenue and statutory concessions, all of which need to be considered if the estate is to avoid paying more tax than necessary.

How We Help Executors

Our probate solicitors can:

• Reduce the risk of personal liability and HMRC penalties
• Ensure probate applications are completed correctly the first time
• Handle complex estates, including property and overseas assets
• Manage beneficiary communication professionally
• Take over the full administration or support you with specific tasks.

You remain in control — we provide as much or as little help as you need.

Managing the Risk

Not only will you face penalties from HMRC if you submit incorrect information, but for every query the Land Registry or Probate Registry makes about property and probate application matters, your applications will be pushed to the back of the queue each time, essentially starting from square one.

If you choose to take on the probate without the help of an expert probate solicitor, you must be sure that you are familiar enough with these processes that you will definitely not make a mistake and can mitigate any risks, and that you are prepared to deal with the stress of these complicated matters that can go on for 12 months and sometimes longer.

Many executors decide it is easier, quicker, and less risky to instruct experienced probate solicitors — particularly where the estate is complex or family relationships are sensitive. We can help take the weight off your shoulders, whether this involves assisting you with specific tasks or taking over the whole case.

One legal service doesn’t fit all — every family and client is unique. Because of that, we tailor our services to what works best for you.

You might want to clear the property, pay the utility bills, and distribute items left to individual beneficiaries. Alternatively, you may find yourself in a position where you need a more hands-on approach from us. We will work with you to achieve the best solution.