The death of a loved one is something that sadly most of us will experience at some point in our lives.
If you are either the next of kin or a close member of the family you may find that the many practicalities involved in dealing with the estate fall to you as a personal representative.
This will either be because you have been named as an executor in the Will or, where no Will exists, you have been appointed by the court as an Administrator.
But what are your duties? To help explain what is involved, Helen Jago, a Director with Palmers Solicitors, who specialises in Wills and estate administration, has recorded a new video which is free to download and watch here.
In the video, Helen sets out the duties of a personal representative including:
- Obtaining a grant An executor’s key duties
- Taking responsibility for property
- Valuing the estate
- Sorting out finances
- Dealing with any assets
- Paying any Inheritance Tax
- Applying for probate
- Distributing the estate
Helen Jago said: “Administering an estate and acting as a personal representative is something many people will not have been called upon to do before and when someone dies it can often feel like an overwhelming task.
“We have made this video to hopefully demystify the process and clearly explain what is involved.
“It is also important to know that it is perfectly acceptable to decline to act as a personal representative. Provided you have not started to administer the estate you can renounce your position.
“Many people who need to act as a personal representative can ask their solicitor to act on their behalf and the team at Palmers provide a service where we can take on all or as much of the administration as an individual wishes, thereby removing some or all of the burden at such an emotionally difficult time.”
For further information and support on estate administration and your duties as a personal representative, please get in touch with us.