Liverpool Solicitors

PROBATE

Executor of a will checklist

If you are acting as executor then it is likely that your involvement may go on for several months and possibly even years. The task involved but are not limited to :-

• Inform close family and potential beneficiaries of  your role as executor
• Consider whether the will allows you to obtain legal advice to assist you
• Obtain copy of will
• Liaise with family members about  registering the death and dealing with funeral arrangements.
• Start inventory of assets and liabilities, where necessary, making enquiries. List assets and liabilities with appropriate paperwork. Locating importnat documents, house keys and ensure any property is secure.
• Where necessary, advise Local Authority, utility providers, pension providers, insurers of the death
• Gather together vital paperwork, address book of deceased, death certificate and certified copies, cheque books, bank statements, paying in books, credit card details, building society books, mortgage details, life insurance policies, shares, bonds, pension information, household bills, tax records.
• If the deceased person is a business owner you will need all paperwork relating to the business including VAT records and accounts.
• Liaise with any known professional advisers for the deceased, such as accountants and solicitors.
• Check if probate is needed.
• Complete a tax return if needed.
• Begin to assess any inheritance tax issues.
• Pay off any outstanding debts.
• If you believe there may be classes of unnamed beneficiaries or you cannot locate named beneficiaries or any creditors then advertise in local and/ornational papers.
• Distribute the assets in accordance with the will.

What practical steps should an executor take ?

Executors should set up an account solely for the purpose of dealing with the estate so that any money paid to the estate is easy to see. If you have no experience of the preparation of accounts then you have a duty to delegate this task to someone with the requisite experience.

• Advise a funeral director of the death.  If the deceased has a pre-arranged funeral plan then make sure you contact them first.   Visit the funeral director with a death certificate to make funeral arrangements (be aware that once you instruct a funeral company you may become personally liable for the bill).
• The Benefits Agency needs to be advised at the local office in person or in writing. Complete and give them the form supplied by the Register. They may need sight of any birth and marriage certificates. Return any pension book. Complete survivorship forms if there is a widow or widowers pension
• The Local Authority will need to be informed to amend council tax details.  You will also need to apply for a single person reduction if available.
• Possibly contact Social Services including Meals on Wheels
• Inform the Family Doctor and any Local Hospitals the deceased may have attended.
• Contact any utility companies.
• Inform the local authority Housing department if the deceased was a council tenant.
• Redirect post if the deceased’s home is unoccupied
• Advise the buildings insurers of the situation
• Employer – Advise employer of death and enquire about outstanding pay, death in service, share save schemes and pension
• Pension Scheme Trustees – Advise scheme trustees and enquire about widow or widowers pension and cessation of payments
• Contact life assurance policy companies and request claim forms.  Second death life assurance may need additional direct debit set up to continue with payments.
• Season Tickets  & Licenses – Refund of any unused TV Licence, Travel Tickets.
• Ask appropriate questions to try and find out who, if anyone, may owe money to the deceased.

How long does probate take ?

This depends on the complexity of the estate. It is not legally permissible to apply for probate until 1 month after the death. Some straightforward estates can be distributed within 2-3 months of probate being granted, others can take much longer if a property sale is required before distribution or the person owned shares in an ongoing small or family business. If trusts have been set up in the will, the estate administration can go on for years and even decades. It is very important to be organized, and to check carefully and correspond quickly with all organizations holding assets for the deceased and likewise to find out about liabilities.

Other factors which will affect timings can include if a deceased has foreign assets or liabilities.

Is probate required where the deceased left no will ?

If a person dies leaving no Will, they are described in legal terms as “Intestate”. Generally, there is no difference in the requirement for probate, since somebody will still need to heave legal power to deal with the estate. The term given to those dealing with the estate administration with intestacy is administrators rather than executors. In terms of who should deal with the estate, this is provided for in The Administration of Estates Act 1925.

What if the estate is worth less than £15,000.00 ?

In this case, formal probate will not be necessary. In addition, if a person has died without making any plans financially for funeral or with urgent bills that must be paid, many banks and building societies will now deal directly with relatives who can show they are likely to be dealing with probate, on the basis of appropriate personal undertakings from those people, in order to release typically up to £5,000.00 of assets to those relatives a from a deceased’s bank account on an emergency basis.