What does the executor of a will do? Private Wealth
The executor of a will must take responsibility for administering the estate of the person who has passed away, ascertaining the assets and liabilities of the deceased’s estate. It may be necessary for the executor to obtain a grant of probate so that they can deal with certain aspects of administering the estate, such as closing bank accounts and selling or transferring property.
Once the assets have been ascertained the executor will need to submit an inheritance tax return confirming whether any inheritance tax is due from the estate. They will then sign and swear an oath and, once the grant of probate is issued, distribute the estate in accordance with the will. An executor is required to produce a set of estate accounts, which should be made available to beneficiaries and creditors.