PROBATE: Role of Executor
As an executor, your primary duty is to gather the deceased’s assets, pay off debts, and distribute the balance according to the Will. This process, known as the “administration of the estate,” can be straightforward or complex depending on the Will. A solicitor will provide advice and guidance throughout.
Typically, there are multiple executors who share responsibilities. All beneficiaries must be located, even if some are harder to find. If you don’t want to serve as an executor, discuss it with the solicitor, and another executor will take over.
The first step is obtaining a Grant of Probate, which is required to access assets, such as bank accounts and property. The solicitor will apply for this on behalf of the executors. A tax form outlining the deceased’s assets and liabilities must be completed, and the application submitted to the Probate Office. Processing usually takes 6-8 weeks but can be expedited if property sale is involved.
Executors may need to manage:
- Jointly owned assets, which pass to the surviving joint tenant
- Pensions, insurance, and overseas assets
- Interactions with the Revenue Commissioners
- Asset insurance until sale or transfer to beneficiaries
- Handling Will challenges or objections
- Keeping records of all transactions
- Settling funeral and testamentary expenses before distributing assets to beneficiaries
If unsure of your role, consult a solicitor for advice.
