executor duties

I am executor of my late Mother’s estate. I understand I have to provide an account of how it is made up and is to be distributed. Has anybody on here already done this?

I am wondering where to start. Presumably from the date of her death and covering all money in/money out since that date. or do I have to go back further? We had to sell her house to pay care home fees long before she died and I know for certain that one family member will be querying this but I have copies of all care home bills paid which amount to a huge chunk of money.

thanks

Re: executor duties

You will have to carry out her wishes as she has put them in her will and divide her estates accordingly . You have done well, to keep all accounts in order to satisfy any queries of relatives .

Re: executor duties

Hi

If you are organised it is easy and you will be fireproof.

There is always one awkward member of the family.

Re: executor duties

Here's a good guide;

https://www.ageuk.org.uk/globalasset...ecutor_inf.pdf

Re: executor duties

I was Executor to my mother's estate, not too difficult to sort out as the only property involved was just a small flat so with little other savings etc. was outside of Inheritance Tax. I found it very useful to make a list of what had to be done and who had to be notified, in order of importance.

One tip I did find invaluable was to get legal copies of the Death Certificate from the Register Office as big organisations will not accept photocopies. If you only have the original then you will be waiting for that to be returned before you can notify the next organisation or company. I had six copies which seemed enough to keep things moving.

Your first responsibility would usually be to notify various organisations. Next would be to get anything to do with what will be left in the Estate organised as this, depending on the amount, may attract Inheritance Tax so all monies involved, savings, investments etc. have to be ascertained.

Then comes dealing with any wishes left in a Will, these usually depend on what is eventually left in the Estate so this has to be sorted out first.

There often can be one or more family members who can cause problems, I had one of those who was very difficult. Depending on the relative and the particular problem in your case, but I found it very useful to engage the services of a solicitor to deal with this. I already had a solicitor who was doing the property conveyancing so used him. That way it avoided personal involvement, the last thing that's wanted at a time like this.

Everything when I was Executor seemed to take forever, although it probably did not but this is where a comprehensive list comes in very useful. There is a lot to do but just tick things off as they are done.

There is useful information on the link below:

https://www.ageuk.org.uk/information...-executors-do/

Re: executor duties

I was my Mum’s executor (which I didn’t know about till we found her Will!)

I have three siblings, but they happily left everything to me. Fortunately Mum had had the foresight to add me to her two bank accounts, and as the money wasn’t a great fortune, I didn’t bother with probate. I treated it as my money, being named on the accounts.

She lived in a council flat so no property sale was necessary.

Being an organised ex secretary I too made detailed lists of who to contact. When brother and I registered the death, we paid for extra copies of the death certificate so I was able to send originals off when needed. And yes, tick off when done, and when acknowledged.

Me and the siblings were beneficiaries so distributing the small wealth was relatively easy. It wasn’t a complicated estate.

I was slightly annoyed that nobody wanted to help, but I got through it. I had no choice. (My brother even muttered ‘good luck with that’) Because of the nature of her death, and then having to deal with the Will, I had never had time to grieve, and I don’t think I ever did.

Just to add, I took a long time to make my own Will as I couldn’t ask family members to be Executors, but now my older sister and her eldest daughter have agreed, so now my own Will is done. I made the decision to sell the shared ownership flat 18 months ago, and now own a FH house. I am hoping this will make dealing with my own estate, whoever will be Executors at the time, easy. No rent or service charges to pay, no urgency to part with the property.

My brother was determined we wouldn’t continue to pay un-necessary rent on mum’s flat, that he and I almost fell out. As Executor I had the right to say to him, slow down, what’s the rush? But he insisted ‘we don’t want to keep paying rent!’ FHS, it wasn’t a fortune! I guess he felt, as the eldest, he too had the right to make such an important decision. But we still had furniture to sell or dispose of, and all her belongings. Most of which went to charity. We all took something to remember her by.

Re: executor duties

Hi, Flowerpower. I was the executrix for my father's estate. My parents did a good job of organizing their will and trust beforehand, but it is still quite a bit of work.

Yes, I would go back a year or two and look at tax filings just to make sure you haven't missed accounts, life insurance policies, or other assets that might be out there. Doing so will give you a better sense of the big picture moving forward.

The key to success is good communication. If you have siblings, I highly recommend using Google Drive where you can share documents like spreadsheets, letters, and other statements that you can share with your siblings or other stakeholders. That function allows people to see what is going on and ask questions along the way without having to send out emails and texts for updates.. All you need is a Google email address for everyone.

Re: executor duties

Thanks so much everyone for your advice.

Mum’s estate was very straightforward just one bank account and some premium bonds. House had already been sold a few years ago to pay her care home fees. Mum was not a taxpayer and had no shares, investments or any other income apart from her state pension and attendance allowance.

The question I am really asking is when I start doing some basic accounts how far back do I have to go? I am guessing it is from the date of her death. Thanks.

Re: executor duties

ino, i yer or inome, yer or t n ineritne t.it rey i quite impe.

Re: executor duties

Are you OK, Swimmy?