Executors are people who are named on a Will as those in charge of sorting out the deceased person’s estate. The estate includes things like property, assets, investments, savings, and possessions. When someone makes a Will, they will name a person who they trust to be responsible for reviewing the Will, collecting the assets included in the Will, and distributing them to the beneficiaries named in the Will. The executors will also need to pay off any debts or liabilities such as Inheritance Tax.
The executor of a Will has a legal obligation to handle the estate and follow the instructions within the Will. If they fail to do so or they make mistakes, they could be held personally liable for any losses caused. Therefore, it is important that the executor takes on their role seriously and according to the law. Executors can seek help from legal probate professionals to ensure that they are doing their job correctly and not missing any important steps that could mean that they are held liable, such as missing off any debts or not distributing all the assets to the correct beneficiaries.