Probate and Executor Services
What does an Executor do?
An Executor is a person named in a Will who is responsible for ensuring that the instructions contained within it are carried out. While this should fairly straightforward, it can be extremely challenging, stressful and time consuming. Redstone Will can provide professional Executor and Probate services.
An Executor’s duties include:
- Registration of Death, notification of relatives/friends
- Organisation of the funeral
- Collation of information in order to ascertain interests, values and liabilities of the deceased (including tax liabilities etc.)
- Obtaining a Grant of Probate
- Investigating and resolving all outstanding aspects of the Estate
- Negotiation of valuations for all assets (property, shares etc.)
- Complying with all legal and fiscal requirements (completing Affidavits, various Probate Registry and Inland Revenue forms)
- Payment of outstanding inheritance Tax liability
- Application for Probate
- Identifying a securing all assets such as property
- Administration of assets (sale or transfer of property, shares, bank/savings account)
- Payment of all outstanding bills
- Distribution of the Estate as per the Will
- Preparation and submission of accounts
Why appoint a professional?
For many people, a close friend or relative is their natural choice as the Executor of their Will. However, they often overlook some key considerations:
- Do they have a time consuming job?
- Do they have a family which will limit their time?
- Is your Executor the same age as you? Are they in good health?
- Do they have the ability to complete the tasks of an Executor?