What do I have to do as an executor of a will?
Discussion
My father died last week, he told me sometime ago that he had made me and one of his step children executors of his will.
I haven't seen the will yet as I assume it's looked at after the funeral which will be on the 4th Sept, but I'm sure he would not have changed anything.
I've had a Google as to what my responsibility as an executor are but TBH I more confused than informed!
So could anyone give me a list of what I need to do in very simple non legalese way?
Many thanks.
I haven't seen the will yet as I assume it's looked at after the funeral which will be on the 4th Sept, but I'm sure he would not have changed anything.
I've had a Google as to what my responsibility as an executor are but TBH I more confused than informed!
So could anyone give me a list of what I need to do in very simple non legalese way?
Many thanks.
It's a difficult time for you so the first thing to say is don't worry about it.
In simple terms it is the executor's responsibility to identify all the assets of the person who has died and to distribute them in accordance with the will. As well as assets he may have some liabilities that need discharging as well.
First job is to get through the next few days and then to have a proper read of the will. If you have any doubts about the will take advice and don't be railroaded into anything you aren't sure about.
I hope the next few days is as painless as can be expected for you.
In simple terms it is the executor's responsibility to identify all the assets of the person who has died and to distribute them in accordance with the will. As well as assets he may have some liabilities that need discharging as well.
First job is to get through the next few days and then to have a proper read of the will. If you have any doubts about the will take advice and don't be railroaded into anything you aren't sure about.
I hope the next few days is as painless as can be expected for you.
First of all, my condolences for your loss. I am an only child, so was the executor when my Dad died 4 years ago.
Some suggestions. Do you know here the will is? I see no reason why you can't look at it now, although probably not foremost in your mind. I had to pester my Dad to tell me where it was, so that I was prepared, although I didn't look at it before his death.
You need to get a death certificate which you probably know and I would suggest you get more certified copies at the same time, as cheaper to source then, because you might need to send out separate copies to different banks/ building societies depending upon how complicated your Dad's finances were. Also it means you aren't waiting for a bank to send the certificate back, to deal with another.
I found out my Dad had 34 different bank/building society accounts! He liked to dabble, as he worked in the city. Came as a big( but financially) lovely surprise
You may prefer to use a solicitor, but you will have to provide and correlate all the info for them. In my experience with multiple companies, if you have a logical mind and don't forget to breathe at a difficult timer you you should be fine.
I hope that helps.
Some suggestions. Do you know here the will is? I see no reason why you can't look at it now, although probably not foremost in your mind. I had to pester my Dad to tell me where it was, so that I was prepared, although I didn't look at it before his death.
You need to get a death certificate which you probably know and I would suggest you get more certified copies at the same time, as cheaper to source then, because you might need to send out separate copies to different banks/ building societies depending upon how complicated your Dad's finances were. Also it means you aren't waiting for a bank to send the certificate back, to deal with another.
I found out my Dad had 34 different bank/building society accounts! He liked to dabble, as he worked in the city. Came as a big( but financially) lovely surprise
You may prefer to use a solicitor, but you will have to provide and correlate all the info for them. In my experience with multiple companies, if you have a logical mind and don't forget to breathe at a difficult timer you you should be fine.
I hope that helps.
funboxster said:
TooMany2cvs said:
Inheritance tax and probate are your problem, too. They're simple online - it really does take you through everything, step-by-step.
I echo that. I did my Dad's IHT and probate and all info online with guidance from HMRC website.If the estate is big, or complex, or you are at all unsure of what you’re doing, then 2 or 3 thousand spent on a solicitor’s guidance may be the best money you’ve spent in a long time.
In my case, the solicitor saved about £13k of IHT by applying a legitimate 15% reduction in the value of my father’s house. There’s no way I’d have known about that tax relief, and there’s no way HMRC would have mentioned it to me. You can find details of the relief online, but only if you know it exists and you know pretty much exactly what to Google for.
Edited to add: If you have the will, there’s no reason why you can’t look at it now. If you’re fortunate it’ll be written in reasonably plain language (as are my will and Mrs Oxgreen’s). But my parents’ wills were utterly, utterly impenetrable gibberish that seemed to say nothing about what should happen. Without expert legal interpretation the wills were useless.
Edited by Dr Mike Oxgreen on Monday 27th August 21:45
The other thing to add in, especially where there are step families involved, in favour of a solicitor sorting things out, is that it’s very hard to argue that you’ve not been fair and equitable in following the instructions of the will. There are more, and more, contentious wills each year and I’d personally want to avoid that if at all possible.
My deepest sympathies on your loss and good luck in what ever you decide.
My deepest sympathies on your loss and good luck in what ever you decide.
chunder27 said:
You can do this without a solicitor.
In some cases, yes. If there are no complexities involved (like needing to get one or more executors to revoke their executorship, or dealing with any trusts that are created by the will, or any one of countless other potential complexities) then it is just a case of carefully filling in some forms (although you do need to get proper probate valuations for every item of the deceased’s estate).But we don’t know how simple or complex the OP’s father’s estate is (and neither does the OP at this stage).
And the point above about making sure your actions are seen to be fair and proper is a good point.
Ball park figure for a solicitor to guide you is maybe £1,000 to £3,000 depending on complexity. My advice is not to underestimate the potential benefit of that, both in terms of one’s own stress and also in financial terms. As I’ve pointed out, my solicitor paid for his fee many times over - it was a net saving of many thousands of pounds.
chunder27 said:
it is not horrendous
You are saying that without knowing anything about the estate or the will. Perhaps you’ve done probate for a simple estate and you’re basing your advice on that limited experience. But the probate I did most definitely would have been utterly horrendous without legal assistance.Edited to add: The fact that there are step-children means that the family structure isn’t entirely straightforward. That is one complexity for starters.
Edited by Dr Mike Oxgreen on Monday 27th August 22:40
I have just finalised my fathers estate after a year.
I am familiar with the task and it was an extensive estate although not that complex per se.
The role has a number of parts. The largest and most expensive part if you sub it to professionals is the paperwork behind
- finding all assets / liabilities
- writing to them all with death certificates
- chasing and monitoring replies
To end up with an asset list as at the date of death.
You then summarise the estate for tax and probate and the complexity of this depends on the size of the estate as the rules and forms change.
You need to complete a personal tax return as at the date of Death. This could be a big job depending on how complex their affairs are.
Hmrc Took 6 months to reply with a tax cacluation. You can’t do it online as the date of death will be in the middle of a tax year. ( father dies sept, you can’t file on line until April for example ) but the rules also require a paper return anyway
Finally the paper chase starts again when you have probate and you write to all asset holders again asking then to distribute the estate with copy of probate and the will ( if they ask )
I did all land transfers without a lawyer ( it is not complex just follow the instructions but again it’s more work )
And finally account to all beneficiaries as to what they get and why.
This is all process and there are things you may need to ask professionals along the way.
Difficult ? Depend on how good you are with these things and how complex / extensive / financially large the estate is.
The bill had I got somone else to do it would have been huge.
So it depends !
I am familiar with the task and it was an extensive estate although not that complex per se.
The role has a number of parts. The largest and most expensive part if you sub it to professionals is the paperwork behind
- finding all assets / liabilities
- writing to them all with death certificates
- chasing and monitoring replies
To end up with an asset list as at the date of death.
You then summarise the estate for tax and probate and the complexity of this depends on the size of the estate as the rules and forms change.
You need to complete a personal tax return as at the date of Death. This could be a big job depending on how complex their affairs are.
Hmrc Took 6 months to reply with a tax cacluation. You can’t do it online as the date of death will be in the middle of a tax year. ( father dies sept, you can’t file on line until April for example ) but the rules also require a paper return anyway
Finally the paper chase starts again when you have probate and you write to all asset holders again asking then to distribute the estate with copy of probate and the will ( if they ask )
I did all land transfers without a lawyer ( it is not complex just follow the instructions but again it’s more work )
And finally account to all beneficiaries as to what they get and why.
This is all process and there are things you may need to ask professionals along the way.
Difficult ? Depend on how good you are with these things and how complex / extensive / financially large the estate is.
The bill had I got somone else to do it would have been huge.
So it depends !
Jeremy-75qq8 said:
I have just finalised my fathers estate after a year.
I am familiar with the task and it was an extensive estate although not that complex per se.
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So it depends !
Firstly commiserations on your loss.I am familiar with the task and it was an extensive estate although not that complex per se.
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So it depends !
Jeremy's summary is good but implies no surviving spouse so that can be a much bigger fish. Surviving spouses tend to get everything (will dependent) which makes things FAR simpler but often 50% of property may be assigned to the children on the first passing.
How easy it is all depends on the person doing it - many can cope but many would find it beyond them and a headache.
Some people I know got a solicitor to deal and they took 1% of house value which was a very large sum and wholly not commensurate with the effort and time involved in sorting out the affairs. You need to make this value/cost judgment yourself and be aware of such practice UPFRONT.
I did it myself and got fellow executors to be 'power reserved'. One was delighted and the other was a solicitor so wasn't too keen, but I had the facts and it made sense!
If you do DIY take it step by step and be diligent - don't wing it. Lots of info out there, and like anything new you don't know how to till you give it a go and learn...
While you could "look at it after the funeral" it's really your responsibility to immediately locate it and check its contents. It could, for example, specify some arrangements in respect of the funeral. It could also "disappear" in short order depending on who happens to come across it before the executors do. If it's lost or destroyed than the estate could end up being distributed in a very different way than your father intended.
I'm just coming to the end of sorting out my Dad's. It's a fair bit of work, but all the info is online - its pretty similar to filling out a tax return.
The executors named on the will were now retired solicitors, and their firm wanted £10k to do the fairly straight forward probate - a large fee per hour plus a big percentage of everything in the pot too. So we got them to renounce and handled it ourselves. It was actually quite satisfying to be fully involved in sorting everything out.
The executors named on the will were now retired solicitors, and their firm wanted £10k to do the fairly straight forward probate - a large fee per hour plus a big percentage of everything in the pot too. So we got them to renounce and handled it ourselves. It was actually quite satisfying to be fully involved in sorting everything out.
Being an executor can be of benefit when you are suffering the loss of a close loved one.
You are performing the final act for your father. You have the responsibility but it can help that you are thinking of something and this can obscure the mourning to an extent.
My experience with a few such roles is that you'll find out all sorts of things about your father and about those who loved him, and others who professed to doing so. I've had my eyes opened when looking into the life of an uncle.
It's something that might well, odd though it sounds at such a time, closer to your father.
I've always been pleased that I've performed this last rite for relatives and once a friend. I've learned so much about them. I've also had my doubts about some relatives confirmed. Don't be upset by the latter. Just record everything you do, and have reasons for doing so.
I printed out all the details of a somewhat valuable estate and gave the details to someone I admired. He just asked how much and tore the spreadsheet up without taking it from the envelope. Nice compliment.
It can be aggro but normally reassuring.
You are performing the final act for your father. You have the responsibility but it can help that you are thinking of something and this can obscure the mourning to an extent.
My experience with a few such roles is that you'll find out all sorts of things about your father and about those who loved him, and others who professed to doing so. I've had my eyes opened when looking into the life of an uncle.
It's something that might well, odd though it sounds at such a time, closer to your father.
I've always been pleased that I've performed this last rite for relatives and once a friend. I've learned so much about them. I've also had my doubts about some relatives confirmed. Don't be upset by the latter. Just record everything you do, and have reasons for doing so.
I printed out all the details of a somewhat valuable estate and gave the details to someone I admired. He just asked how much and tore the spreadsheet up without taking it from the envelope. Nice compliment.
It can be aggro but normally reassuring.
There’s a lot of good info on the which website:
https://www.which.co.uk/money/what-to-do-when-some...
https://www.which.co.uk/money/what-to-do-when-some...
skeggysteve said:
My father died last week, he told me sometime ago that he had made me and one of his step children executors of his will.
I haven't seen the will yet as I assume it's looked at after the funeral which will be on the 4th Sept, but I'm sure he would not have changed anything.
I've had a Google as to what my responsibility as an executor are but TBH I more confused than informed!
So could anyone give me a list of what I need to do in very simple non legalese way?
Many thanks.
Hi OP,I haven't seen the will yet as I assume it's looked at after the funeral which will be on the 4th Sept, but I'm sure he would not have changed anything.
I've had a Google as to what my responsibility as an executor are but TBH I more confused than informed!
So could anyone give me a list of what I need to do in very simple non legalese way?
Many thanks.
My advice would be to find a solicitor who is an "expert" in such matters. What has been said on here is correct, you can do it yourself but it is not as easy as people are making out. Furthermore, no one on this forum, as helpful as it is/they are, know the intricacies and details of the Will/estate/family situation that you have inherited; excuse the pun!
A solicitor that specialises in Wills will bring structure and understanding to the whole process.
My "qualifications" are I have been the Executor for three family members and all three were completely different scenarios and needed specialist input that I did not have the time or the understanding to manage (i.e.money in a Dubai bank account, ongoing legal case and monies stuck in a house in France mid-court case, Pensions needed splitting between current/ ex-wife, outstanding loans to family members...etc,...a real PITA).
Do not worry all is a well-followed process and although slow at times, the big wheels do turn slowly but methodically.
Many thanks for all the replies it is much appreciated.
The estate will not be complex, house worth under 200k and some savings.
We know what he wanted for his funeral as he made it clear a few years ago it has also been paid for.
He told me that he wanted us to let my step mum live in the property until she dies and them everything to be split 3 ways.
Unfortunately I can see her causing problems as she is not a nice person, few years ago she rang and told me my dad was in hospital but wouldn't tell me why or where she just said she had done her duty. I'm not sure what her son and daughter will be like as I don't know them well enough.
Once again many thanks for all the replies.
The estate will not be complex, house worth under 200k and some savings.
We know what he wanted for his funeral as he made it clear a few years ago it has also been paid for.
He told me that he wanted us to let my step mum live in the property until she dies and them everything to be split 3 ways.
Unfortunately I can see her causing problems as she is not a nice person, few years ago she rang and told me my dad was in hospital but wouldn't tell me why or where she just said she had done her duty. I'm not sure what her son and daughter will be like as I don't know them well enough.
Once again many thanks for all the replies.
skeggysteve said:
Unfortunately I can see (step-mother) causing problems as she is not a nice person, few years ago she rang and told me my dad was in hospital but wouldn't tell me why or where she just said she had done her duty. I'm not sure what her son and daughter will be like as I don't know them well enough.
And that's exactly why you need to get hold of the will asap.Were they married? If so, then any previous will would probably have been voided on their wedding. If you can't find a post-marriage will, or one "made in contemplation of marriage", then he'll have died intestate, which means the spouse gets everything up to £250k plus half of everything above that.
Well worth it getting "lost"... There is no Agatha Christie-style "grand reveal" of a will as soon as the box is planted.
Edited by TooMany2cvs on Tuesday 28th August 15:51
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