Duties of executors and administrators

 

What does an Executor or Administrator do?

Below is a list of the main duties the executors or administrators have to perform:

  1. Collect and secure the assets of the deceased
  2. Apply for the grant of probate.
  3. Ensure the wishes of the deceased as expressed in the will are carried out.
  4. Obtain market valuations of the assets of the deceased.
  5. Pay and settle all outstanding taxes and debts of the deceased.
  6. Draw up tax returns for inheritance tax and other taxes and claim all allowances, reliefs and write downs.
  7. Obtain permission from the Inland Revenue tax to distribute the estate to the beneficiaries.
  8. Distribute the estate.
  9. Prepare estate accounts for beneficiaries.

 

For more on probate click on the drop down or revisit derby probate solicitors.