Initial Duties
1. Register the death of the Testator. Obtain copies of the
death certificate - several may be required not only before
the funeral takes place but also for each of the funds that
may have to be released or transferred e.g. bank accounts, insurance
policies, shares and other equities. Try to gauge how many copies
are needed. Many organisations will need sight of an original
Death Certificate before releasing funds. Copies obtained from
the Registry of Births Deaths and Marriages are regarded as
'originals' as opposed to a photocopy of the certificate.
2. Arrange the funeral. The cost will usually be the first
expense paid for from the deceased's estate. Make enquiries
about the existence of a prepaid funeral plan - these are becoming
increasingly popular amongst retired people wishing to guard
against the effects of inflation. If a Testator does decide
to purchase a funeral plan Executors should be informed immediately
and given the location of the relevant documents.
3. Apply for a Grant of Probate via the nearest Probate Registry.
4. Arrange to open a Personal Representative's bank account.
This will be used for the receipt of money due to the Estate
and any loan arranged to pay an Inheritance Tax bill and/or
probate fees.
5. Inform all relevant persons and organisations - banks, building
societies, life assurance companies, employers, local authorities,
Inland Revenue, benefit agencies etc.
6. Arrange for a valuation of the Estate. This will include
the house and its contents, other personal effects, investments
in savings plans, equities, life policies, building societies
etc. Draw up a detailed schedule of all the Testator's assets.
7. Draw up a full schedule of debts that must be paid from
the proceeds of the Estate. These will include mortgages, income
and capital gains taxes, bills, credit cards, loans and overdrafts.
8. Complete the forms required by the Inland Revenue Capital
Taxes Office so that it can be established whether any Inheritance
Tax is due.
9. Complete the probate forms and send or take them to the
Probate Office along with the original Will, the death certificate
and the Inland Revenue account.
Subsequent Duties
1. Provided that the case is fairly straightforward, an appointment
will be made for the personal representative to 'swear the papers'
within about 5 - 6 weeks of receipt at the Probate Office
2. When Inheritance Tax is due the Executor's account of the
Estate is passed to the Inland Revenue and the Grant of Probate
cannot be issued until the tax is paid. There will be circumstances
where part of the Estate has to be sold to pay Inheritance Tax
and if this is the case banks can arrange loan facilities to
pay the tax straight away.
3. Copies of the Grant of Probate should be sent to everyone
who owes money to the Estate. The Executors now have a legal
authority to pursue any debts owing to the Estate.
4. When the Grant of Probate is received, the Estate can be
divided according to the terms of the Will. The Executor must
prepare and sign accounts showing who has received what from
the distribution. They must be able to show that they acted
in accordance with the terms of the Will in case there is any
dissent from the family of the deceased.
5. All papers, including the Grant of Probate and the accounts
must be stored safely for a period of 12 years.
Please note that the duties of an executor may vary depending
on individual circumstances.
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