An Executor must carry out certain tasks to legally fulfil the obligations of the task. An Executor should therefore:

• Obtain a copy of the medical certificate indicating cause of death and a formal notice from the Doctor if the family members to not wish to do so.
• Register the death at the local Registry of Births, Deaths and Marriages, if there are no family members wishing to do so. The death must be registered to obtain the Death Certificate. N.B. It is advisable to get more than one copy, as it will be needed when dealing with Insurance companies, pension providers, etc.
• Could be responsible for making sure any last wishes, such as organ or body donations are carried out. The job might also include planning for the funeral or cremation and arranging for payments for the services provided.
• Make sure you have the last original Will of the deceased. The testator should have notified you as to the location of this.
• Locate all the heirs. This might seem like an easy task and if there are just a couple of children and they are the only ones named in the Will, it is easy. If there are numerous heirs and they are named in the Will, either collectively or individually, the Executor must locate each and every one.
• Make and exhaustive list of all the assets of the Estate, from personal to real property, to bank accounts, investments, etc, and all debts including credit cards, utility bills, loans, etc.
• It is advisable to open a separate account into which money paid into the Estate can be credited. This will prevent Estate monies being confused with personal finances.
• Notify all businesses of the death e.g. utility companies, credit card companies, banks, council tax offices, social security, etc.
• Make sure that all the deceased’s debts are settled before the Estate is distributed to the Beneficiaries.
• If there are minor or dependent children, the Executor could be responsible for arranging for their care and placement. The deceased might have stated their wishes in the Will, but if not, the Courts might need to be involved in the placement. If there are pets, the Executor will need to care for them and plan for their continued care.
• Pay any IHT necessary.
• You must declare the value of the Estate to HMRC on an IHT return, within 12 months of death.
• Payments of the deceased’s tax is your personal responsibility. Failure to submit an accurate account to HMRC may leave you open to personal liability or penalty.
• Contact the local Probate Registry to either obtain the Grant of Probate or the Grant of Administration.
• Distribute the contents of the Will, making sure that if anything is to be left to minors, a Trustee has been named.
• After you have completed all your tasks, you will need to produce a full set of accounts for the Beneficiaries, showing the Estate assets and liabilities, administration income and expenses and how the Estate has been distributed.

A key consideration for you will be the extent to which you wish to involve Professionals to help and support you in this role.

Frog Wealth Management can deal with the administration of the Estate for the later circulation to the Beneficiaries if you so desire.

In addition, we have a clear professional duty of care to explain clearly in advance, the basis of our charges, so you know what to expect.

If you are considering asking someone to serve as the Executor of your Estate, be sure they understand the duties and responsibilities of being an Executor. Being the Executor of an Estate is not really an honour, it’s a difficult, time consuming job that carries some legal liability. An Executor will probably work long, hard hours for at least a year or two getting your Estate settled and they could quite possibly be a very unpopular person to your heirs.