Act as an executor and settle an estate step by step

This guide is for anyone named as an executor in a will, or applying to deal with an estate when there is no will, in England or Wales. It picks up once the death has been registered and the funeral arranged, and takes you through valuing the estate, Inheritance Tax, probate, debts, tax and finally paying out. Executors can be personally liable if they pay the wrong people or miss tax, so the order matters. By the end you will have a working estate spreadsheet, the letters you need and a clear point at which to bring in a professional. Scotland (confirmation) and Northern Ireland have different procedures.

What is inside

• Full step-by-step method9 detailed steps with decision points
• Ready-to-use templatesLetter asking a bank for the date-of-death balance · Estate valuation and accounts table · Update email to beneficiaries
• Timed action plan8 stages from “Weeks 1–2” to “After final payment”
• Costly mistakes to avoid4 traps and what to do instead
• Complete checklist12 items to tick off
• Insider tips and fixes4 tips and 4 common problems solved

Step by step

1. Decide whether to act, then secure the estate

   Find the original signed will, not a copy, and check whether there is a later will or codicil with the deceased's solicitor or bank. If you do not want the job, you can renounce or have power reserved, but only if you have not already started dealing with the assets, so decide before you act. Do not give away belongings, pay legacies or let anyone move into the home yet. Tell the home insurer the property is unoccupied, because many policies restrict cover after a set number of days, and ask what conditions apply, such as draining down water or regular inspections. Redirect post through Royal Mail and keep every letter in date order; post is how you will find accounts, debts and pensions you did not know about.