They are a person or persons (up to a maximum of four) who are chosen by you in your will to deal with your Estate following your death.

An Executor has various responsibilities during the Estate administration period, which include:

• identifying and notifying asset holders (such as banks or building societies)
• obtaining values of the assets
• finding out the value of any debts
• organising funeral arrangements if these have not been done by family members
• depending on the size of the Estate, they will pay any inheritance tax that might be due
• applying for a Grant of Probate

A Trustee has other supplementary responsibilities, which could include managing any trusts that have formed under the Will or investing funds after obtaining advice from suitably qualified persons.

Once a Grant has been received, your Executors will collect in assets, settle any liabilities and ensure that all administration expenses have been met. Following this, if there are any specific legacies in your Will they will pay these.

The ‘residue’ of your Estate will then be distributed to your chosen residuary beneficiaries in the proportions set out in your Will.

It is important to note that your Executors & Trustees have significant responsibilities: if an action by them causes a loss to your Estate, then they could find themselves personally liable.

Appointing Kiteleys Solicitors

Due to the responsibility in acting as an Executor or Trustee, or the fact that specialist knowledge may be required, many people decide to nominate us to act in this capacity.

Our staff have vast experience in acting in these capacities and would be pleased to assist in taking the burden from your family members at a time when many wish to be able to mourn without the pressure of this position.