When the Grant of Probate has been obtained, you, as the Executor, can then administer the estate of your loved one. This process generally has three stages:
- Assessing the value of the estate by obtaining all documents in relation to your loved one’s property, finances, possessions etc;
- Paying any outstanding bills and settling all debts with the money in the estate;
- Distributing the balance of the estate i.e. what is left after the debts have been paid, in accordance with the terms of your loved one’s Will.
If your loved one had specific requests in their Will, for example, that a specific item is to be given to a certain person, it is your responsibility as the Executor to ensure that person receives that item.
As the Executor, you will also need to prepare Estate Accounts to confirm how the estate has been administered. Therefore, you will need to document everything you do, obtain confirmation of payment of bills and debts and obtain receipts for any payments.
