Undertaking the responsibilities outlined in a will is an honour few understand until it falls on them to do so. This role remains dormant for years and decades until the moment it springs to life when a person least expects it, at a time of great grief and bereavement. Knowing what lies ahead does not make the process any less painful, but it can make it significantly more manageable.
What Executors Need to Do in the First Few Weeks After a Death
The first step is to find the will itself, usually held with a solicitor. This might seem simple, but locating documents held by banks or safe deposit boxes, for example, can take some time.
Also, it’s important to obtain multiple certified copies of the death certificate, as banks, financial institutions, insurance companies, pension providers, government departments, and so on require an original or certified copy to progress claims, rather than a photocopy. This might cause delays if executors do not have sufficient copies. For Probate Leicester, visit beesandco.com/our-services/probate/leicester
Executors will also need to compile a complete inventory of the estate’s assets and liabilities. This typically includes a list of all accounts, property, investments, outstanding debts, and so on. This inventory becomes the foundation upon which the probate process builds.
In the first instance, it’s important to contact institutions such as banks, HMRC, the Department for Work and Pensions, and pension providers to prevent payments going to the deceased and to prevent fraud.
Even though these first weeks will necessarily be complex and difficult, knowing what these requirements are allows you to take the correct initial direction rather than learning requirements and rules one at a time as you progress.