Q2. What is an Executor?
A2. An executor fulfils the wishes you have specified in your Will. These are the people who’ll look after the financial process when you die. Try to choose a responsible and trusted friend or relative, who can think clearly in a troubled time. The executor’s duties will include:
- Gathering all the assets of your estate and getting them valued
- Applying for a grant of probate from court which gives them authority to deal with your assets
- Ensuring that all your debts, bills, inheritance taxes and funeral expenses are paid out of money in the estate
- Distributing the remainder of your estate in accordance with your Will
- Fulfilling any other wishes you have specified