Should I be an Executor?

What are the risks of financial liability?

An Executor or Administrator owes a duty of care to the Beneficiaries of the Estate. They can be held personally financially liable for any loss resulting from a breach of their duty, even if the mistake was made in good faith, such as:

• Failure to pay the debts and liabilities of the deceased.
• Failure to pay all Inheritance Tax, Income Tax & Capital Gains Tax due.
• Failure to distribute funds to an individual who is successful in their claim against the Estate.
• Failure to identify, and correctly distribute funds to the beneficiaries; including those initially not known about.

Do I need to act as an Executor?

Whilst you might have been named as an Executor in a Will, provided you have not taken any steps which would amount to intermeddling with the Estate (such as paying bills on behalf of the Estate, gathering in Assets on behalf of the Estate or making any representations as acting on behalf of the Estate etc.) then you can renounce your Executorship role.

Do I need to appoint a Solicitor to deal with the Administration of the Estate?

No. Although being named as Executor in a Will or applying to be an Administrator can bring with it complicated, difficult, and time-consuming duties. It is important to get the administration right as failure to so could prove costly. Appointing RMNJ Solicitors to assist you with the Administration will reassure and ensure the due administration is completed as smoothly as possible.

What are the benefits of using RMNJ Solicitors?

Probate Estate Administration in England and Wales is not a reserved legal activity which means that unregulated providers can offer Probate Estate Administration services regardless of whether they are insured, experienced or qualified to provide a full Probate service.

RMNJ Solicitors is authorised and regulated by the Solicitors Regulation Authority and carries full professional indemnity cover giving you peace of mind knowing that your Probate matter is being handled by a regulated organisation and by a practice you can trust.

RMNJ are always glad to discuss any questions you have without obligation and at first instance entirely free of charge.