The Role & Duties of Executors

The main duties of the executors

The law says an executor of a Will should carry out his or her task ‘with due diligence’. Executors who act wrongly may have to pay compensation to beneficiaries out of their own money. For this reason, it is wise to protect yourself by having the professional help and advice of a solicitor.
The law expects executors:

• to put the interests of the beneficiaries before their own interests
• not make a profit from their position unless authorised
• to scrupulously account to the beneficiaries for all the money passing through their hands
• to act reasonably and prudently in relation to the estate property.

The process of the executors.

• Locate the testators will – as soon as you appoint your executors always let them know where your Will is, because loss of the original deed is not seen as a valid excuse and you will die intestate if this is the case.
• Register the death of the deceased – this will mean obtaining copies of the death certificate. Multiple copies may be required to arrange the funeral and release certain funds such as insurance policies and bank accounts. Only copies obtained from the ‘Registry of Marriage and Death’ will be regarded as original copies and accepted.
• Arrange the funeral – the directions of the testator are usually written within the Will or with an additional ‘Expression of Wishes’. The executors are not legally bound to fulfil these wishes but most will try and uphold them as best as possible. If a pre-paid funeral plan has been purchased then the testator should inform the executors of this and the whereabouts of the relevant documents.
• Open a Personal Representatives Bank Account – this is a specific bank account where all proceeds from the estate and any money used to pay Inheritance Tax will be paid into and from.
• Inform all relevant people – the executor will have to contact all the necessary people and organisations such as building societies, doctors, insurance companies, local authorities and pension schemes.
• Plan for any debts to be paid – this will include organising payment of any outstanding debts such as mortgages, credit cards, Inheritance Tax, loans and overdrafts from the estate proceeds. These debts can be taken care of by insurance policies written into Trust to ensure the full value of the estate is upheld.
• Apply for a Grant of Probate – this can be done by going to the government website www.gov.uk/wills-probate-inheritance. You will have to send off a Grant for Probate form, an Inheritance Tax form, the original copy of the death certificate, the original will deed and two copies plus any codicils, and finally a cheque for £105 to cover the application fee made payable to HM Courts & Tribunals Service. Note: if the estate value is under £5,000 then no application fee is required.
• Swear an Oath – you will need to go to your local probate office and swear an oath that the information you are giving is correct to the best of your knowledge. The probate grant will be sent out to you ten days after you have sworn the oath.
• Divide the estate – when the grant of probate comes through, the executors can then divide the estate as per the instructions in the Will. The executor to should make every beneficiary sign a written acknowledgement of the gift they are receiving to ensure they is no risk of being called up for acting dishonestly. Administering an estate can take between four to six months, sometimes less for simpler estates. When the sale of a property is involved the process can take up to
  two years. When probate comes through, the executors can then divide the estate as per the instructions in the Will. The executor to should make every beneficiary sign a written acknowledgement of the gift they are receiving to ensure there is no risk of being called up for acting dishonestly.