Difficult role that's riddled with risk and responsibility

THE LOSS of a loved one is difficult enough, but for those tasked with handling their estate, the agonisingly slow probate process can make it even worse. Many people agree to become an executor out of politeness or a sense of duty, only to discover too late the huge workload, legal responsibility and financial risks.

- By Harvey Jones

Carrying out someone’s final wishes is a time-consuming and legally complex process.

Worse, executors can be held personally liable for any mistakes.

And probate is set to become even more complicated and stressful, thanks to Chancellor Rachel Reeves’s pensions inheritance tax raid.

So give the role serious consideration before accepting.

COMPLEX

Being an executor is demanding, said Jenny Walsh, a wills, lasting power of attorney and estates specialist at Osbornes Law: “For complex estates, you may be fulfilling your duties for months or even years after the deceased’s death.”

Duties go far beyond simply reading out a will. Responsibilities include applying for probate, valuing the estate, settling debts, paying funeral costs and inheritance tax.

And that’s before the task of distributing the remaining assets according to the deceased’s wishes.