At Garden Stirling Burnet, our executry solicitors are highly experienced in effective estate administration, whether we are appointed as your executor or are providing professional advice to your chosen representative.
From our offices in East Lothian, let our empathetic executry team ensure that at a highly emotive and stressful time, your wishes are met, and your loved ones taken care of.
What is Executry?
Executry is the process of administering and winding up a deceased person’s estate (all the assets belonging to the person who died) whether there is or is not a Will in place.
The person or institution responsible for doing this is referred to as the executor, and they can be a trusted friend, relative or a professional such as a solicitor. There can be more than one executor, but they must be over 16.
What are the duties and responsibilities of an Executor?
The responsibility for administering the property, finances, and possessions of the deceased in line with their Will (or under intestacy) falls to the named executor.
These duties can be incredibly daunting, and an executor can be held financially responsible for any errors such as failing to settle debts or a failure to settle tax affairs.
As appointed executors, we at Garden Stirling Burnet, can carry these duties out correctly or advise and guide your chosen executor through the process.
Some of the duties and responsibilities are as follows:
Investigating the estate
The executor should check within the deceased person’s papers for the Will or contact their solicitor to locate this. If Garden Stirling Burnet is your solicitor, or is appointed as the executor, then it is likely we would hold the original Will.
The executor is responsible for locating all the deceased person’s estate including all property, and debts, then compiling a detailed inventory.
If there is no Will, then the laws of intestacy determine how your assets Will be distributed to your next of kin.
Registration and Funeral arrangements
Registration of the death must take place at the Registrar of Births, Deaths, and Marriages within eight days (although this time limit is not usually enforced). Whilst this can be carried out by a friend or relative, an executor is also able to do this if they have possession of the medical certificate of death.
Following on from this, funeral arrangements can be made and the executor if tasked with this duty should check whether there are any instructions left by the deceased, or any funeral plans in place. The Tell Us Once service lets you report a death to most Government organisations such as HMRC, the local council, and the Passport Office.
Applying for confirmation
Confirmation (also known as probate in England and Wales) gives the executor the legal authority to receive payments due to the estate, make payments due by the estate and distribute the net estate to the relevant beneficiaries.
Administering and distributing the estate
An executor is legally responsible for administering and distributing an estate and this can entail; notifying and corresponding with relevant organisations to cash or transfer any assets and settle any debts; preparing and distributing any accounts; and correctly distributing the individual legacies.
This stage will also allow the total estate to be valued and any liability for Inheritance Tax calculated.
The executor must keep all the beneficiaries informed about the progress throughout.
Handling Executry Disputes
Disputes can sometimes occur when executing a Will, such as those which arise with co-executors or with beneficiaries challenging a Will. (Also with contentious intestate estates — disputes about who is entitled, etc)
At Garden Stirling Burnet, we can help manage any resulting conflict and ensure that a suitable resolution is reached.
Executry When There is no Will
If there is no Will in place or no executor named, then an application would have to be made to the Sheriff Court to appoint an executor.
Only certain individuals have the right to be appointed as an executor in this instant, and this includes next of kin or a specific legatee.
In some cases, an executor appointed by the Court can also be required to obtain a Bond of Caution, which is a form of insurance. This is a guarantee that ensures the executor shall distribute the estate in accordance with the rules of intestacy.
All of these issues may cause delays, complications, and further expense, especially in terms of distributing the estate.
Why Choose Garden Stirling Burnet?
Estate administration is not an easy task, our team of trusted private client solicitors have considerable experience acting as executors for clients throughout Edinburgh and East Lothian. We also provide specialist advice and advice to executors and beneficiaries to help them manage the process.
Get in touch with one of our friendly team today.