This short guide aims to give you a very brief overview of the type of issues involved.
If you have been asked to be an Executor, you will be named as such in the deceased’s Will. Where there is no Will, the position of Administrator is determined in accordance with a strict legal order of priority, commonly referred to as the Rules of Intestacy/Intestate Succession Rules. These rules also set out how the estate will be distributed.
The role of an Executor/Administrator is an onerous one and In England and Wales an Executor, Personal Representative or Administrator can be held personally financially liable for any loss resulting from a breach of duty, even if a mistake is made in good faith. Therefore, it is always important to get professional advice.
The duties of an Executor/Administrator can include, though are not necessarily limited to:
An Executor/Administrator can be held personally liable for any loss resulting from a breach of their duty, even if the mistake was made in good faith. Furthermore, disappointed family members or dependants have up to 6 months to make a claim after the Grant of Representation has been issued while the deceased’s creditors can potentially make a claim against the Personal Representative for up to 12 years after the death.
This is why we would always recommend instructing a professional to handle the administration of the estate. If you require any help with a Probate/Estate matter, please call our offices on 01695 574 201 or email us.