What is an Executor's role?
An executor is an individual appointed by a Will, to be responsible for the administration of the deceased estate. A person’s estate is everything they own including money, property and any personal possessions of monetary value.
The main roles of an executor are to safeguard the deceased property, ensuring it is secure as soon as possible after their death. In this, it is important to collect any assets and money due to the estate and remove these from the property. Further to this, executors will need to pay any outstanding taxes and debts out of the estate, meaning they are not just responsible for the assets but the liabilities too! Arguably an executor’s main role is distributing the estate to the people who are named as beneficiaries in the Will.
Depending on factors such as the size of estate, ultimately probate is not a quick process, as it requires time and precision. It is due to this that many people choose to instruct a Solicitor to act on their behalf, and deal with matters accordingly.
To make contact with our Private Client (Wills, Lasting Powers of Attorney and Probate) department, please call on 01243 532777 or email info@owenkenny.co.uk