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Executor of a will duties |
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- Firstly you need to establish the location of the will and also inform close family, next of kins and any potential heirs of the death. You should also inform them that you have been appointed the executor of will.
- Check to make sure their property is secure, vehicles are secure and parked correctly, ensure mains services are safe, cancel any deliveries such as the milkman, newspapers and redirect an post if necessary. Also check that items such as the car and properties remain insured for the immediate future.
- The death must be registered within five days if no post mortem or inquiry is required. Make sure you register the death with the appropriate registrar for the are where the death occurred and obtain the death certificates and also the required number of certified copies of the death certificate (further details about certified copies are mentioned further below).
- If necessary, assist with the arrangement of the funeral (in accordance within the will if set out) unless there is already a pre paid funeral plan in place.
- Gather any vital possessions and paperwork such as wallet, purse, deceased address book, passport, driving license.
- Gather all financial documentation such as mortgage details, cheque book, paying in books, bank & credit card statements, loan agreements, car finance agreements and any cash.
- Locate all household bills and calculate any outstanding death-to-date liabilities such as gas / electric, insurance premiums, bank loans etc. You should then send each creditor a certified copy of the death certificate. Creditors may include utility suppliers, finance house etc and you should also send certified copies of the death certificate to any potential creditors such as the bank, life insurance company.
- Ensure any wages or salary are stopped as well as any pensions and insurance premiums. You should also inform the relevant authorities of items such as a driving license, passport, credit/debit cards, tv license, council tax.
- Be sure to gather any tax records or payslips etc and if the deceased ran a business or was self employed then gather all the business related paperwork and tax records together.
- Contact the deceased local tax office to pay any outstanding tax up to the date of death.
- Inform the beneficiaries of their entitlement and provide certified copies of the will if required.
- Calculate the amount of inheritance tax and seek advice if applicable. If you are unsure of this matter then you should seek independent financial advice.
- Check if ‘Probate’ is needed. If any of the estates assets are over a certain value then you must obtain a legal document known as the ‘Grant of Representation’ from the probate registry. This is to certify that you can carry out the role of dispensing the allocated assets, gifts, legacies etc.
- Pay any outstanding administration charges and fees as well as any outstanding debts.
- Complete a final tax return if applicable.
- The contents of the will can now be distributed amongst the beneficiaries.
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