The burden of responsibility put on the executor’s shoulders is very high and the job can be time consuming and sometimes complicated. An executor is under personal financial risk if:
- Mistakes are made with income, inheritance or capital gains tax
- If they don’t properly identify and pay all creditors
- If someone challenges the will after they distribute the estate (unless they follow the statutory protection date)
- If they distribute to a beneficiary who is bankrupt
In addition, an executor is also responsible for keeping to deadlines, paying tax and legacies, establishing the identity of all beneficiaries, issuing tax certificates and mediating between family members who disagree. We understand that the legality of probate can be daunting and our team has the experience and the expertise to handle the job for you and remove the financial risks and burdens. However, if you feel up to the task, please contact us for information about our 70-page probate pack which gives you all the information and documents you need to tackle a simple estate.