An executor (otherwise known as the legal personal representative of the deceased) has certain duties, some of which are regarded as basic, but others which can be complex.
For example, the executor must ascertain the value of assets and liabilities of the deceased person, obtain a Grant of Probate (or Letters of Administration if the deceased died without a Will), call in the assets of the estate (and if necessary, take proceedings to recover the assets), pay the funeral and testamentary expenses, pay liabilities and then distribute the estate in accordance with the terms of the deceased’s Will.
There are many other matters that an executor may be responsible to do. For example, paying money to beneficiaries (where specific bequests are given), calculating how the residuary estate is to be divided between beneficiaries, overseeing any trusts which are set out in the Will, paying any claims which are made against the estate and investing money for minor beneficiaries.
The role of the executor in respect of the administration of the estate is to remain neutral, even if there are disputes between beneficiaries and/or other persons and the estate. White Berman Ryder are able to provide guidance, assistance and advice to executors in discharging their obligations. Contact us now to make a no obligation appointment.