I am the Executor of a Will, What Steps do I need to Take and What am I Legally Responsible For?

When someone appoints you as an executor of their will, you are the person that they have chosen to administer their estate and carry out the wishes that they have included in their will. You could be one of up to four named executors of their will, but people most commonly only name two, just in case one isn’t able to or doesn’t want to act as an executor when required.

As experts in wills, trusts, tax and probate, here is some advice on what you are responsible for and what your next steps should be if you’ve been named as an executor of a will of someone who has recently passed away.

What are the Main Responsibilities of an Executor?

The main responsibility of an executor of a will is to carry out the wishes of the person who has passed away, as set out in their will. There are many duties and responsibilities involved in this, which include the following.

• Registration of the death
• Locating the original will
• The arrangement and payment of the funeral
• Responsibility for property
• Resolution of finances
• Valuation of the estate
• Arranging payment of Inheritance Tax
• Application for a grant of probate
• Arranging payment for any debts of the estate
• Identification of all assets of the estate
• Distribution of the estate in accordance with the will

What Do I Do if I Don’t Want to be an Executor?

It is possible that although you have been named as an executor in someone’s will, you do not want to be an executor. Perhaps you have not been asked or are not in a position to be held responsible for the job. For example, you may have willingly accepted the role in the past but have since changed your mind due to your own personal circumstances or a change in relationship between yourself and the deceased. If you do find yourself in this position, there are steps you can take. It is advisable to either speak to the principal probate registry, or seek legal advice, straight after the death.

At this point you may be able to fill in a renunciation form in order to give up your right to apply for probate (“renunciation”) and send it to the probate registry or appoint an attorney to act on your behalf in the administration of the estate. Bear in mind that if you have already taken steps to deal with the estate after the person has died, you will need a valid reason to step down, such as a family emergency or ill health.

Can Executors be Liable for Anything in the Future?

It is possible for claims to be made against an executor of a will (or indeed, an administrator) for up to 12 years after the death. This is only if there should be an allegation that any of the executor’s responsibilities were not carried out correctly.

Whether you need immediate help or long-term planning for peace of mind, our team is on hand to provide professional, friendly advice. If you’re the executor of a will and need further advice and support on what actions to take, we’re happy to help. Call us today on Bingley 01274 723858, Ilkley 01943 601173 or Bradford 01274 735511.