Dealing with someone’s estate after their death can be an emotional and complicated process. Alongside handling personal matters, there may be property, savings, investments, debts and other assets that need to be dealt with correctly. This is where an executor plays an important role.
An executor is responsible for administering an estate in accordance with the deceased person’s will. If the estate includes a house or other property, the executor may need to arrange valuations, deal with outstanding bills, communicate with beneficiaries and ultimately sell or transfer the property.
Whether you are named as an executor yourself or are buying or selling a property from an estate, understanding the role can make the process easier to navigate.
What Is an Executor?
An executor is a person appointed in a will to deal with the deceased person’s estate after their death.
An executor’s responsibilities can include identifying assets, paying debts and taxes, applying for a Grant of Probate where required, and distributing the remaining estate to the beneficiaries named in the will.
A person can appoint more than one executor. They may choose a family member, friend or professional such as a solicitor.
It is important to distinguish an executor from an administrator. Where someone dies without a valid will, an administrator is generally appointed to deal with the estate instead.
Executor Myth 1: Being Named in a Will Means You Automatically Have to Take the Role
Not necessarily.
Being named as an executor does not mean you are automatically required to administer the estate. Someone who does not want to take on the responsibility may be able to renounce the role, provided they meet the relevant requirements and have not already taken steps that amount to administering the estate.
If you are unsure whether to accept the role, obtaining legal advice before taking action can be sensible. Once you begin dealing with estate assets, stepping away may become more complicated.
Executor Myth 2: An Executor Becomes the Owner of the Deceased’s Property
An executor does not personally inherit the estate simply because they are responsible for administering it.
Their role is to manage the deceased’s assets and distribute them according to the will and applicable law.
For example, if the deceased owned a house that was left to a particular beneficiary, the executor may need to deal with the property before it can be transferred. Alternatively, if the will requires or permits the property to be sold, the executor may arrange the sale and ensure the proceeds are dealt with appropriately.
The executor is therefore acting in an administrative and legal capacity rather than treating the estate’s assets as their own.
Executor Myth 3: Executors Only Deal With Property
Property is only one part of an estate.
An executor may need to identify a wide range of assets, including:
- Bank and building society accounts
- Shares and investments
- Vehicles
- Personal possessions
- Life insurance policies
- Business interests
- Property and land
- Money owed to the deceased
They must also identify liabilities, which could include mortgages, loans, credit cards, household bills and other debts.
The exact responsibilities depend on the circumstances of the estate.
Executor Myth 4: The Executor Can Immediately Sell the Property
Selling an inherited property can involve several steps.
Before putting a property on the market, the executor may need to establish their legal authority to deal with the estate and determine whether probate is required.
A Grant of Probate is the legal document that confirms an executor has authority to administer an estate in England and Wales where probate is required. The process and requirements can vary depending on the circumstances.
The executor may then need to arrange a property valuation, prepare the property for sale, appoint an estate agent and instruct a conveyancer.
If the property is in the London Borough of Bexley, for example, someone researching estate agents in Sidcup may encounter properties being sold on behalf of an estate. In such circumstances, buyers should remember that the seller may be acting as an executor rather than as the property’s former owner.
Executor Myth 5: The Executor Can Distribute Everything Immediately
There may be significant work to complete before beneficiaries receive their inheritance.
The executor needs to establish what assets and liabilities exist, deal with relevant taxes and settle debts before distributing the estate.
Inheritance Tax may be payable in certain circumstances, depending on the value and nature of the estate and available exemptions or reliefs. The executor is responsible for making sure the appropriate information is provided to HM Revenue & Customs and that any tax due is dealt with correctly.
The executor should also ensure that legitimate debts and expenses are settled before distributing the estate.
Executor Myth 6: Executors Can Do Whatever They Want With Estate Assets
Executors have legal duties and cannot simply deal with assets however they choose.
They must administer the estate according to the will and applicable legal requirements. They also have responsibilities towards beneficiaries.
For example, an executor should not simply sell an estate property to themselves or transfer valuable assets to another person without considering the legal and financial implications.
Where difficult decisions arise, professional advice can help the executor understand their responsibilities and reduce the risk of disputes.
What Happens When an Executor Sells a Property?
Selling a property as part of an estate can be similar to a conventional property sale, but there may be additional considerations.
The executor may first need to establish the property’s market value. This can be important for estate administration and, depending on the circumstances, tax calculations.
The property may then be marketed for sale. Once a buyer is found, the executor will usually work with a conveyancer or solicitor to provide the necessary documentation and progress the transaction.
The buyer’s solicitor may ask questions about probate, ownership and the executor’s authority to sell. This can sometimes make the process feel more complicated than an ordinary sale.
Buyers should not necessarily view this as a problem. However, it is sensible to understand that an executor sale can involve additional legal steps.
What Should Buyers Know About Probate Property Sales?
If you are buying a property being sold by an executor, ask your conveyancer whether probate has been granted or whether there are outstanding issues that could affect the transaction.
You should also establish:
- Who has legal authority to sell the property.
- Whether the appropriate probate documentation is available.
- Whether there are multiple executors.
- Whether all necessary parties need to sign the paperwork.
- Whether there are restrictions or issues affecting the property’s title.
- Whether the property is being sold in accordance with the will and estate administration requirements.
Your estate agent can help with the practical aspects of the transaction, but legal questions should be directed to your conveyancer or solicitor.
What If the Property Is Empty?
Inherited properties are often vacant while the estate is being administered. This creates practical responsibilities for the executor.
The property may need to be secured, insured, maintained and cleared of belongings. Utilities and council tax arrangements may also need to be considered.
If the property is being prepared for sale, the executor may need to arrange repairs, cleaning or gardening work. However, spending money from the estate should be approached carefully and appropriately documented.
Where a property is empty for an extended period, the executor should also consider security and insurance requirements, as standard home insurance may have different conditions for unoccupied properties.
What If There Is a Tenant?
An estate property may already be occupied by a tenant when its owner dies. In this situation, the executor should not assume that the tenancy simply ends because of the owner’s death.
The tenancy agreement, the circumstances of the tenancy and relevant housing law will determine what happens next. The executor may need to continue dealing with rent, repairs and other landlord responsibilities until the property is lawfully transferred or the tenancy ends.
Professional advice is particularly important where possession proceedings or other legal issues are involved.
How Can Executors Make the Process Easier?
Administering an estate can involve considerable paperwork, particularly where property is involved. Executors can make the process more manageable by keeping detailed records of:
- Estate assets and their valuations
- Outstanding debts and expenses
- Property-related costs
- Correspondence with beneficiaries
- Tax payments
- Property sale documentation
- Legal and professional fees
It can also be useful to create a clear timeline of key events. Keeping organised records helps demonstrate how the estate has been administered and can reduce misunderstandings between beneficiaries.
Final Thoughts
The role of an executor carries significant responsibility. From identifying assets and dealing with debts to managing property and distributing inheritance, an executor may have to handle numerous financial, legal and practical matters.
Property can make estate administration particularly complex. A house may need to be valued, maintained, marketed and sold before the proceeds can be distributed. If the property is rented, the executor may also need to deal with ongoing landlord responsibilities.
If you have been appointed as an executor, do not feel that you have to navigate complicated matters alone. A solicitor, conveyancer, tax adviser or other appropriate professional can help you understand your obligations.
For buyers and sellers, understanding the executor’s role can also provide useful context when dealing with a probate property transaction. With the right preparation and professional guidance, the process can be handled in an organised and legally appropriate way.
