An Executry is what we call administering the estate of a deceased, either in accordance with the Will they have in place or in accordance with the rules of intestate succession (where someone dies without having a Will).
It is a significant and daunting administrative responsibility given to the nominated Executors under the Will or appointed through a necessary court process if no Will exists and we are there to assist the Executors in discharging that responsibility efficiently and sensitively from the moment we are instructed to the winding up of the estate and distribution of the assets to the Beneficiaries.
The essential responsibilities of an Executor are:
- To investigate the nature and extent of the estate and to account for all assets passing on death.
- To draft correctly and fully and submit to the court the Inventory of Estate and associated documentation and to obtain Confirmation (the Executors’ authority to uplift funds, sell heritable estate, realise the assets etc).
- To settle all debts and liabilities, including, if applicable, calculating and settling Inheritance Tax.
- Making payment of any specific legacies to individual nominated beneficiaries and distributing the residue (remainder) of the estate to those entitled to it, thus winding up the estate fully.
It is, of course, possible for an Executor to carry out the administration of an estate without solicitor involvement but the rather onerous duties and responsibilities imposed on an Executor usually determine that professional advice and assistance are obtained.REQUEST A FEE QUOTECONTACT US
“Nothing was ever too much trouble making the process as stress free as possible. ”MR & MRS MCEWEN