provides accurate and expert guidance, it is …

1 IiExclusion of liability and disclaimerWhile every effort has been made to ensure that this Lawpack publicationprovides accurate and expert guidance , it is impossible to predict all thecircumstances in which it may be used. Accordingly, neither the publisher, author,retailer, approving solicitors, nor any other suppliers shall be liable to any personor entity with respect to any loss or damage caused or alleged to be caused by theinformation contained in or omitted from this Lawpack Publishing Limited76 89 Alscot RoadLondon SE1 rights reservedebook ISBN 9781907765506 2011 Lawpack Publishing LimitedThis Lawpack Guide may not be reproduced in whole or in part in anyform without written permission from the publisherApproved for use in England, Wales and Scotland by Irwin MitchellSolicitors and in Northern Ireland by Tughans SolicitorsNotes.

2 Since 2005, it has been possible for same-sex partners to register theirrelationships, so becoming registered civil partners . For manypurposes, and for most of the rules related to Wills and intestacy,registered civil partners are treated in the same way as this guide, for spouse read spouse or civil partner . The law is stated as at 1 January 2011; figures quoted are for the taxyear 2010/2011. For convenience (and for no other reason) him , he and his havebeen used throughout and should be read to include her , she and her . Third party website links in this guide are correct at the time ofpublication, but Lawpack Publishing is not responsible for theircurrency or What is an executor?

3 1 Grant of probate or confirmation2 More than one executor2 Other personal representatives3 Should a solicitor be instructed?82. When death occurs10 Registering the death10 The death certificate13 The Will133. Duties of an executor18Is a grant of probate or confirmationnecessary?19 Probate registries23 Financial records23 Paying Inheritance Tax24 Identifying beneficiaries244. Taking stock27 Valuing debts28 Asset checklist29 House or flat29 Bank account31 Stocks and shares32 Businesses34 Car34 Jewellery34 Works of art34iiiOther possessions35 National Savings35 Premium Bonds36 Outstanding salary or pension payments36 Life insurance and pension policies37 Taxes and bills37 Social Security payments38 Foreign property385.

4 Applying for a grant39 Excepted/exempt estates39 The forms England and Wales41 Form PA1 Probate Application Form 44 Form IHT205 Short Form of Return ofestate information45 The forms Northern Ireland45 The forms Scotland46 Form C1 Confirmation46 Form C5 (SE) Information about Small Estates46 Form C5 Short Form of Return of estate information47 Bond of caution 48 The forms England, Wales, Northern Ireland & Scotland48 Form IHT400 Full Inheritance Tax Return48 Schedules Form IHT411 & Form IHT 412 Stocks and Shares49 Schedule IHT405 Houses, land, buildingsand interests in land 50At the Probate Registry in England & Wales50 Application for confirmation in Scotland52 Inheritance Tax54 Changes to the amount of Inheritance Tax55ivRaising money to pay Inheritance Tax and the probate fee or confirmation dues566.

5 Administering an estate 59 Distribution of gifts and legacies59 Transfer of assets59 Final accounts62 Taxation of the estate64 Succession on intestacy 65 The rules of intestacy in England and Wales66 The rules of intestacy in Northern Ireland71 The rules of intestacy in Scotland737. An overview of probate/confirmation81vThis is an excerpt from Lawpack s Executor s find out more about obtaining grant of probate andadministering an estate,click is an executor?When someone is named the executor of a Will, he is beingasked to take responsibility for administering the estate of theperson who made the Will, called the testator, upon thetestator s as an executor should not be undertaken following the death, the executors are expected tobegin their administrative duties; long after other mourners lives have returned to normal, the executors will still beadministering the estate.

6 This entails corresponding with otherparties, keeping meticulous records, filling out forms and beinganswerable to creditors, beneficiaries and the intentions of thedeceased, as recorded in the t be put off by the term estate . This simply refers to all theproperty a person leaves behind, whether its value be hundredsor millions of pounds. One person s assets may include homes,yachts and a Swiss bank account, while another leaves awedding ring, some changes of clothes and a shoe box full ofcostume jewellery. Both have left estates to be accounted forand duties can be summed up as.

7 Taking an inventory ofthe deceased s possessions and debts, collecting the assets,paying the bills and distributing the legacies (whether specificitems, cash sums or residue) following the testator s wishes asclosely as 's Guide2 Grant of probate or confirmationExecutors have the power to deal with the deceased s assetsfrom the date of death, but not until they receive what is calledin England, Wales and Northern Ireland a grant of probate , or inScotland confirmation , can they prove their authority to thoseinstitutions and authorities that hold assets in the deceased sname.

8 In England, Wales and Northern Ireland, grants of probateare issued by the High Court through Probate , confirmation is issued by the Commissary Departmentof the Sheriff Courtin the area where the deceased had beendomiciled at than one executorIf the Will appoints only one executor, or if only one person isable and willing to act, a grant of probate or confirmation can beissued to one person. In England, Wales and Northern Ireland, ifthe Will appoints more than four executors, only four of themwill be allowed to apply for the grant of probate. The others mayrenounce their right to apply for probate; or they may decide notto apply for the time being but to reserve their right to apply inthe future so that if, for example, one of the acting executors diesbefore the estate has been fully administered, the executor withpower reserved may take his England, Wales and Northern Ireland, if only one executor istaking out the grant of probate, it may be prudent for the otherexecutor(s) to sign what s called a power reserved letter, even ifit s not anticipated that he will want to apply at any stage.

9 Byreserving the right to apply in this way, a non-acting executorcan step in if the acting executor becomes incapacitated beforethe administration of the estate is complete. The ProbateRegistry provides a form necessary to renounce or reserve theright to apply for Scotland, there is no limit on the number of executors whomay be appointed under a Will, but for practical reasons, it isprobably not desirable to have more than four. Confirmation isalways issued in favour of all surviving executors who have beennominated and who haven t predeceased the deceased ordeclined office.

10 There is no Scottish equivalent to the English andWelsh power reserved option and any executor named in theWill but not wishing to have confirmation issued in his favour,must sign a declinature to be submitted to the Sheriff Courtwith the application for matter how many executors are named, for practical purposesit s usually easier if one of the executors undertakes theadministrative tasks on behalf of them all (he is referred to in thisguide as the first applicant ). The executors should meet to discussthe practical side of carrying out their duties. Whatever is agreedshould be put in writing and signed by them all.