Duties of executors
1. Register the death
2. Arrange the funeral
Most banks and building societies will pay the funeral bill before probate is granted. When you ask us to deal with the legal process we can usually get the funeral paid from the deceased own bank or building society, avoiding relatives having to pay from their own funds.
3. Apply for a Grant of Probate
This will usually involve a visit to a solicitor where you will be required to swear an oath. If we deal with the legal process this will not be necessary.
4. Valuation of the estate
This will include the house and its contents, other personal effects, investments in savings plans, equities, life policies, building societies etc. Draw up a detailed schedule of all the deceased’s assets. Draw up a full schedule of all debts, these will include mortgages, income and capital gains taxes, bills, credit cards, loans and overdrafts.
5. Complete all legal and probate forms
This includes forms required by the Inland Revenue Capital Taxes Office so that it can be established whether any Inheritance Tax is due.