Being an Executor: The Duties, Risks and Changes You Need to Know

Being appointed as an executor is often seen as a sign of trust. However, administering someone’s estate can involve much more work and responsibility than many people expect.

An executor may need to identify and value assets, deal with banks and pension providers, settle debts and taxes, apply for probate, sell property, prepare estate accounts and distribute the inheritance correctly.

The role can become particularly demanding where an estate includes property, business interests, trusts, overseas assets, several pension arrangements or disagreements between family members.

The rules affecting estates are also changing. From 6 April 2027, most unused pension funds and pension death benefits will be brought within a deceased person’s estate for Inheritance Tax purposes. This is likely to add another layer of responsibility for many executors.

Key Takeaways

• An executor is legally responsible for administering the deceased’s estate.
• Executors must act in the interests of the estate and its beneficiaries.
• Assets should not be distributed until debts, taxes and potential claims have been properly considered.
• Executors can potentially be personally liable where an estate is administered incorrectly.
• The current probate application fee is £526 where the estate is worth more than £5,000.
• From 6 April 2027, most unused pension funds and pension death benefits will be considered for Inheritance Tax purposes.
• An executor can obtain professional advice or instruct a solicitor to deal with some or all of the administration.

What Is an Executor?

An executor is a person appointed in a Will to deal with the estate of someone who has died.

The estate may include:

• Property and land
• Money in bank or building society accounts
• Investments and shares
• Personal belongings
• Business interests
• Digital assets
• Money owed to the deceased
• Certain trusts and overseas assets
• Pension funds and death benefits, depending on the applicable rules

If there is no valid Will, the person entitled to deal with the estate is generally called an administrator. Executors and administrators are collectively known as personal representatives.

What Are the Main Duties of an Executor?

Every estate is different, but an executor may need to undertake the following work.

1. Locate the Will

The original Will and any codicils must be found and checked. The executor should establish that the Will is the deceased’s last valid Will and identify all the executors, beneficiaries and specific gifts.

Concerns about the validity or interpretation of a Will should be addressed before an application for probate is made or assets are distributed.

2. Identify and Protect the Estate

The executor must identify the deceased’s assets and take reasonable steps to protect them.

This may include securing and insuring an empty property, arranging valuations, notifying financial institutions and safeguarding important documents and possessions.

3. Identify Debts and Liabilities

The executor should establish what the deceased and the estate owe. This may include mortgages, loans, credit cards, household bills, funeral expenses and tax liabilities.

Where appropriate, notices may be placed under section 27 of the Trustee Act 1925. Properly placed notices can provide an executor with protection against certain unknown creditors before the estate is distributed. They do not remove the underlying debt or necessarily prevent a creditor pursuing a beneficiary who has received estate assets.

4. Value the Estate

The executor must obtain appropriate valuations for the deceased’s assets and liabilities as at the date of death.

Professional valuations may be required for property, valuable possessions, private company shares or other unusual assets. Inaccurate valuations can result in additional tax, interest or penalties.

5. Deal with Inheritance Tax

The executor must establish whether a full Inheritance Tax account is required and calculate any tax payable.

Inheritance Tax will usually need to be paid by the end of the sixth month after the month in which the death occurred. Interest may be charged on late payment.

Some or all of the tax will normally have to be paid before a grant of representation can be obtained, although payment by instalments may be available for qualifying assets such as certain property.

The standard Inheritance Tax rate is generally 40% on the part of the taxable estate above the available thresholds. The actual calculation may be affected by exemptions, reliefs, lifetime gifts and transferable allowances.

6. Apply for Probate When Required

If the deceased left a valid Will, the executors may need to apply for a Grant of Probate. Where there is no Will, an eligible person may need to apply for Letters of Administration.

A grant is not required in every estate. Whether one is necessary will depend on the assets involved and the requirements of the organisations holding them.

As at August 2026, the probate application fee is £526 where the estate is worth more than £5,000. There is no application fee where the estate is worth £5,000 or less.

7. Collect or Sell the Assets

Once the necessary authority has been obtained, the executor can collect money, close accounts and, where appropriate, sell or transfer property and investments.

Executors should take reasonable care when deciding whether and when to sell an asset. They must not favour themselves or one beneficiary over another.

8. Pay Debts, Expenses and Taxes

Estate liabilities should be settled before the remaining estate is distributed.

The executor may also need to deal with Income Tax arising before or after the death and Capital Gains Tax if estate assets increase in value before they are sold.

9. Prepare Estate Accounts

Clear estate accounts should record:

• The assets and liabilities at the date of death
• Money received and payments made
• Tax and administration expenses
• Any income or gains arising during the administration
• Interim distributions
• The final amount due to each beneficiary

Beneficiaries who are entitled to the residuary estate will usually be entitled to see the estate accounts.

10. Distribute the Estate Correctly

The executor must distribute the estate in accordance with the Will or, where there is no valid Will, the intestacy rules.

Distribution should not take place prematurely. Executors should consider outstanding liabilities, possible claims against the estate and whether sufficient money should be retained.

Although often described as the “executor’s year”, the first year after death is not a universal deadline by which every estate must be completed. Some straightforward estates finish sooner, while complex estates can take considerably longer.

Can an Executor Be Personally Liable?

Potentially, yes.

An executor may face personal liability if, for example, they:

• Distribute the estate before settling debts or taxes
• Pay the wrong beneficiary
• Fail to identify or protect an asset
• Sell an asset at an improper value
• Miscalculate or underpay tax
• Prefer one beneficiary unfairly
• Act despite a conflict of interest
• Fail to follow the Will or the intestacy rules
• Distribute funds without properly considering a known or reasonably foreseeable claim

Personal liability does not arise simply because an estate takes time to administer. However, executors must act honestly, reasonably and with appropriate care.

Keeping detailed records and obtaining advice when an issue falls outside the executor’s experience can significantly reduce the risk of mistakes.

What Is Changing for Pensions from April 2027?

For deaths occurring on or after 6 April 2027, most unused pension funds and pension death benefits will be brought within the value of the estate for Inheritance Tax purposes.

This change was enacted by the Finance Act 2026.

Personal representatives will be responsible for identifying the deceased’s relevant pension arrangements, obtaining information from pension providers, reporting the relevant values and paying any Inheritance Tax due.

Pension beneficiaries may also become jointly and severally liable for the tax attributable to pension benefits once those benefits become vested in them.

The changes will not apply where the pension scheme member dies before 6 April 2027, even if the benefits are paid after that date. Certain benefits are excluded, including death-in-service benefits payable from registered pension schemes.

The detailed process will involve information passing between personal representatives, pension scheme administrators, beneficiaries and HMRC. Further HMRC guidance and supporting materials are expected before the rules take effect.

Executors dealing with deaths on or after 6 April 2027 should therefore ensure that all possible pension arrangements are investigated at an early stage.

Can an Executor Charge for Their Time?

A non-professional executor is generally entitled to recover reasonable expenses properly incurred while administering the estate. However, they are not automatically entitled to charge for their own time.

Payment for an executor’s work may be possible where:

• The Will contains an appropriate charging clause
• The beneficiaries properly agree to payment
• The court authorises remuneration
• A professional executor is entitled to charge under the Will or another lawful arrangement

An executor should not take payment from an estate without first confirming that they have legal authority to do so.

Reasonable legal and professional costs properly incurred in administering the estate can generally be paid from the estate.

What If You Do Not Want to Act as an Executor?

An executor who has not started dealing with the estate may be able to renounce their right to probate formally.

Alternatively, an executor may have “power reserved”. This means another executor obtains the grant while the non-proving executor retains the possibility of applying later if necessary.

Renunciation should be considered carefully. Once an executor has intermeddled in the estate, it may no longer be possible to renounce without the court’s involvement.

Legal advice should therefore be obtained before signing documents, collecting assets or making substantive decisions if you are unsure whether you want to act.

When Should an Executor Obtain Legal Advice?

Professional advice is particularly valuable where:

• The estate may be liable for Inheritance Tax
• The Will is unclear, damaged or potentially invalid
• A beneficiary cannot be located
• There are disputes between executors or beneficiaries
• Someone may bring a claim against the estate
• The estate is insolvent
• There are trusts, businesses or overseas assets
• The deceased made substantial lifetime gifts
• Property needs to be sold or transferred
• The deceased had several pension arrangements
• The executor is concerned about personal liability

An executor can ask a solicitor to handle the entire administration or provide advice on particular stages.

Frequently Asked Questions

How Long Does Probate Take?

There is no single timescale. The time required depends on the complexity of the estate, the tax position, how quickly organisations provide information and whether any dispute or claim arises.

Obtaining the grant is only one stage. The executor may still need to sell property, settle taxes and liabilities, prepare accounts and distribute the estate afterwards.

Can an Executor Also Be a Beneficiary?

Yes. It is common for an executor also to be a beneficiary. However, the executor must still act impartially and comply with their legal duties.

Do All Executors Have to Apply for Probate?

Not necessarily. Up to four executors may be named on the grant. An executor who does not apply may have power reserved or, where appropriate, formally renounce.

The executors should agree who will make the application and obtain advice if there is a disagreement.

Can Beneficiaries Force an Executor to Distribute the Estate Immediately?

Generally, personal representatives cannot be compelled to distribute the estate during the first year following the death. However, this does not permit unnecessary delay.

Executors should keep beneficiaries appropriately informed and progress the administration within a reasonable time.

Can an Executor Instruct a Solicitor?

Yes. Being named as an executor does not mean that you must complete every part of the administration personally.

A solicitor can advise on the executor’s duties, prepare the probate application, deal with tax and estate accounts, handle property matters and help protect the executor from avoidable errors.

How The Legal Practice Solicitors Can Help

Administering an estate can be demanding, particularly while coping with bereavement.

Our Private Client Team can assist with:

• Interpreting the Will
• Advising executors and administrators
• Valuing and administering the estate
• Preparing probate applications
• Inheritance Tax forms and estate accounts
• Property sales and transfers
• Trust and beneficiary issues
• Potential claims and probate disputes
• Full or limited-scope estate administration

Whether you need advice on a particular issue or would like us to handle the entire estate administration, we can provide clear and practical support.

Call The Legal Practice Solicitors on [020 8903 7017] or complete our [CONTACT FORM] to speak to our Private Client Team.

One Client. One Firm. A Lifetime of Trusted Legal Advice.

Disclaimer

This article is intended for general information only and does not constitute legal advice. Every individual’s circumstances and every estate are different. Specific legal advice should always be obtained before making decisions regarding probate, estate administration, Inheritance Tax or the duties of an executor.