The surprise role of executor
Unfortunately, many people often find themselves in the surprising situation of having been named as executor of a Will, after a loved one has passed away.
Although this can sometimes be a difficult task, with executors held personally liable for any mistakes made in the payment of inheritance tax; in most instances, the estate is not exceptionally valuable and probate is relatively straightforward.
A degree of detective work is usually required in the beginning, to uncover the whereabouts of the Will, before ascertaining what bank or savings accounts and assets the deceased owned.
The next step is to outline all outstanding debts and ensure that these are paid before settling the Inheritance Tax bill and distributing the remainder of the estate in accordance with the wishes of the deceased.
If the entire estate is valued under £5000, there may be no need to apply for a Grant of Probate, but a professional probate expert will be able to advise you, every step of the way if required.