If you are an executor of a will, you need to understand your legal obligations to the beneficiaries. Our specialist estates team know the legal requirements and can guide you through the process with empathy and skill. The executor’s role is to realise the assets of the estate and pay estate debts before the balance is distributed to the beneficiaries.
Usually, where there is a will, a grant of administration from the High Court to the executor or executors is required. This involves applying for a grant of probate or letters of administration with the will annexed.
Some people put off making a will, thinking they are not old enough, or have few assets, or that their estate passes to family members even without a will. Unfortunately, the unexpected can happen and circumstances change. That may be through an untimely death, separation or divorce.
Without a will, on death, the estate is intestate. Administration is more complex and usually more costly. The people who benefit in an intestate estate are prescribed by law which may not reflect your wishes.
If you need advice on anything related to estates or estate planning and wish to speak to one of our specialist lawyers, give us a call.