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Executor Duties

Becoming an executor of a will is both an honour and a significant responsibility. Your executor duties mean you are entrusted with managing and distributing a loved one's estate, which can be overwhelming, emotional, and complex.

From navigating legal requirements to handling financial matters, the role of an executor demands time, attention to detail, and a clear understanding of the law.

At Lawhive, our network of wills, trust, and probate lawyers is on hand to guide you through every step of the executor process, helping you to understand your duties and comply with all legal obligations.

Contact our Legal Assessment Team today for a free case evaluation, guidance, and a no-obligation quote for the services of an expert probate lawyer.

• What is an executor?
• What are the main duties of an executor?
• Do I need a solicitor to act as an executor?
• Can an executor also be a beneficiary?
• How do I value the estate?
• What taxes need to be paid by the executor?
• What if the estate can't pay its debts?
• How do I distribute assets as an executor?
• What if a beneficiary can't be found?
• How long does the executor process take?
• What if there is a dispute among beneficiaries?
• Can I renounce my role as executor?
• What documents do I need to manage an estate?
• How should executors handle digital assets?
• Can I get help with my executor duties?
• What is an executor's year?
• Can I charge for my services as an executor?

What is an executor?

An executor of a will is the person, or people, responsible for distributing the deceased's assets according to their will.

The primary responsibility of an executor is to the beneficiaries – those named in the will.

When someone dies without a will the person responsible for distributing the estate is known as the administrator. Despite the difference in naming conventions, the role is the same.

What are the main duties of an executor?

The primary duty of an executor is to distribute the funds, property, and belongings of the estate as laid out in the will. 

An executor has the legal authority to do this and can be held accountable for any mistakes they make. 

Their main duties include:

• Keeping the estate’s accounts.
• Paying debts owed by the estate.
• Calculating if inheritance tax is due, competing and sending inheritance tax forms to HMRC, and paying it.
• Paying any other taxes including income tax and capital gains tax.
• Applying for a grant of probate.
• Notifying banks and other financial institutions about the death.
• Valuing and distributing the estate according to the will.
• Making court appearances if required.

Executors can also be responsible for locating the original will, registering the death, informing relatives and beneficiaries, and funeral arrangements. 

Do I need a solicitor to act as an executor?

As an executor of a will, you are not legally required to hire a solicitor. However, there are several reasons why having a solicitor can be beneficial, especially given the responsibilities involved in administering an estate.

Firstly, they can provide expert guidance to ensure all legal requirements are met and minimise the risks of delays to the probate process by making sure that all paperwork is correctly completed and filed.

Secondly, should family conflicts or disagreements among beneficiaries arise during the probate process, a solicitor can act as a neutral third party and make sure the estate is administered fairly and according to the deceased's wishes.

At Lawhive, our network of experienced solicitors is here to help with executor duties.

Contact us today to learn more about how we can assist you in your role as an executor.

Can an executor also be a beneficiary?

Yes, an executor can also be a beneficiary of a will. This arrangement is common and can work well, provided the executor manages conflicts of interest and acts impartially.

That being said, in the event of a will dispute, seeking professional advice from a solicitor can provide clarity and guidance to ensure the estate is administered according to the deceased's wishes and legal requirements.

How do I value the estate?

To value the estate you need to add up the value of all assets (bank accounts, property, investments, etc) and liabilities (mortgages, loans, credit card balances, unpaid bills). Then, subtract the total liabilities from the total assets.

Depending on the estate, you may need a professional valuation from estate agents, chartered surveyors, or other specialists.

What taxes need to be paid by the executor?

Executors are responsible for paying Inheritance Tax, Income Tax, and Capital Gains Tax on behalf of the estate.

While certain thresholds and allowances may mean no tax is due from the estate, executors must make sure taxes are calculated accurately, filed on time, and paid promptly to avoid penalties or delays.

What if the estate can't pay its debts?

If the estate can't pay its debts, it is considered insolvent.

Executors must follow the legal order of priority and pay each category in full before moving on to the next. Further, they must not distribute any assets to beneficiaries until all debts and liabilities have been settled.

Distributing assets prematurely can make the executor personally liable for any outstanding debts.

Generally, the order or priority is as follows:

• Secured debts (e.g. mortgages)
• Funeral expenses
• Testamentary administration expenses (e.g. probate fees)
• Taxes
• Unsecured debts (e.g. credit cards, personal loans)

If there aren't enough funds to fully pay a category, available funds must be distributed proportionately among those creditors.

Further, if the estate is insolvent, executors can apply for an Insolvency Administration Order. This process, similar to bankruptcy for individuals, ensures that the estate is managed and distributed according to insolvency rules.

How do I distribute assets as an executor?

Before you can distribute assets, you need to obtain a Grant of Probate, which gives you the authority to manage and distribute the estate.

Then, after all debts, taxes, and liabilities are paid, you can distribute specific gifts and bequestes to named beneficiaries. This can include personal possessions, amounts of money, or particular assets.

After gifts have been distributed, the remaining assets (the residual estate) should be allocated according to the will or intestacy rules.

This may involve selling assets and distributing the proceeds or transferring assets directly to beneficiaries.

What if a beneficiary can't be found?

As an executor, you must locate all beneficiaries named in the will or identified under the rules of intestacy. However, sometimes a beneficiary cannot be found despite your best efforts.

If initial search efforts, like contacting known relatives and friends, using professional services (like tracing agents), or placing advertisements in local newspapers don't prove fruitful, you may need to apply to the court for guidance.

The court can provide directions on how to proceed, which may include distributing the estate without the missing beneficiary.

In some cases, the missing beneficiary's share can be held in a statutory trust until they can be found.

In the long term, if the beneficiary remains unlocated, their share may be passed to the government’s Bona Vacantia division, which deals with unclaimed estates. This usually happens if no contact is made for a significant period (often many years).

How long does the executor process take?

The executor process typically takes between 6 and 12 months but can take longer depending on various factors such as the complexity of the estate, disputes, and administrative delays.

What if there is a dispute among beneficiaries?

Disputes among beneficiaries can complicate the executor process and delay the administration of the estate.

As an executor, you must act impartially and fairly to all beneficiaries.

If there is a dispute among beneficiaries, stay neutral and seek mediation or legal advice to resolve disagreements over asset distribution or interpretations of the will.

In some cases, beneficiaries may challenge an executor’s actions and seek to have them removed or replaced. In these cases, you should consult a solicitor specialising in probate and estate disputes. They can provide expert advice and help you protect yourself from potential liability.

Can I renounce my role as executor?

Yes, executors can renounce their role by signing a Deed of Renunciation.

There are many reasons why someone may want to renounce their role from illness, to not having enough time to dedicate to this complex and time-consuming process.

A solicitor can assist in drawing up a Deed of Renunciation or Letter of Renunciation.

If there is only one executor and they renounce their role a beneficiary can apply to become an executor of an estate by applying for a grant of Letters of Administration with will annexed.

What documents do I need to manage an estate?

Executors need access to various documents to manage an estate including:

• The original will.
• The death certificate.
• Their national insurance number.
• Contact details for the deceased’s banks, lawyers, accountants, and financial advisors.
• Title deeds for the person who died’s house.
• Account details for online banking, email, and utility services.
• Passwords for digital devices to track down important documents.
• Any documents required by the Probate Registry and HMRC, such as inheritance tax forms and personal identification.

How should executors handle digital assets?

Digital assets are increasingly becoming a significant part of an individual's estate. These assets can include online accounts, digital currencies, social media profiles, and more. As an executor, it’s important to manage these assets properly.

First, make a list of the deceased's digital assets, then find any documentation of usernames, passwords, and access codes.

In some circumstances, you may need to contact service providers to notify them of the account holder's death and request access or closure of the accounts. You'll need a copy of the death certificate and proof of your authority as executor to do this.

As with any other assets, you should follow the will's instructions regarding digital content. To do this, you may need to get valuations for digital currencies and manage their transfer or liquidation.

Can I get help with my executor duties?

Yes, you can get help with your executor duties. Being an executor can be a complex and demanding role, and seeking professional assistance can ensure that you fulfill your responsibilities effectively and following the law.

Solicitors can provide expert guidance on all aspects of estate administration, from obtaining probate to distributing assets. They can help you complete and file the necessary legal documents, reducing the risk of errors and delays. Furthermore, if disputes arise among beneficiaries or other parties, solicitors can provide mediation and legal representation.

Accountants can also help with valuing the estate's assets, handling self-assessment, and advising on inheritance tax, capital gains tax, and other tax obligations.

At Lawhive, we offer a comprehensive range of legal services to assist you with your executor duties. Our team of experienced solicitors and probate specialists are here to provide the support and guidance you need.

Contact us today for a free case evaluation and quote for the services of an expert solicitor.

What is an executor's year?

An executor’s year is a 12-month period starting from the date of death, during which the executor is expected to gather assets, pay debts, settle taxes, and prepare for the distribution of the estate.

This period provides the executor with the necessary time to handle the estate’s affairs without pressure from beneficiaries or creditors.

If the administration is not completed within this year, beneficiaries can start demanding their inheritance and specific legacies may accrue interest.

That being said, for particularly large or complex estates, it might not be possible to complete all tasks within the executor’s year. Disputes or legal claims on the estate can extend the administration process beyond the executor’s year.

Can I charge for my services as an executor?

If the will explicitly states that the executor can be paid for their services, then you are entitled to charge the estate for your time and efforts.

Professional executors (e.g. solicitors and accountants) are also typically allowed to charge for their services at a rate agreed upon with the beneficiaries.

Non-professional executors are typically entitled to reimbursement for reasonable expenses incurred during the administration process.

However, you should keep detailed records of the time spent on executor duties and any expenses incurred as beneficiaries may dispute the fees if they believe they are unreasonable or unjustified.

Get expert help with executor duties

At Lawhive, we understand that acting as an executor can be stressful, complex, and daunting.

Our network of experienced solicitors specialises in probate and estate administration, providing you with the expert advice and support you need to fulfill your executor duties efficiently.

From obtaining probate and valuing assets to managing debts and distributing the estate, we offer a full range of affordable, accessible services tailored to your needs.

To get started, contact us today and speak with one of our Legal Assessment Specialists. They can provide the expert support you need alongside a free, no-obligation quote for the services of a specialist probate lawyer.

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