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Old 03-11-08, 09:19 PM   #1
Gene genie
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Default will and testament.

a quicky people, mum just ask me to be an executer to her will. i've agreed to obviousley but what exactley does this mean?
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Old 03-11-08, 09:21 PM   #2
Demonz
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Default Re: will and testament.

Coordinate with the legal and family is what i understood the role to be.
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Old 03-11-08, 09:25 PM   #3
Gene genie
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Default Re: will and testament.

to act as a mediater? bugger, what have i done. with my family it was like the outbreak of WW2 when my dad died.
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Old 03-11-08, 10:26 PM   #4
Dangerous Dave
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Default Re: will and testament.

Have a look here.
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Old 03-11-08, 11:39 PM   #5
Ed
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Default Re: will and testament.

It all depends on the size of the estate. Many banks and building societies will accept an indemnity in place of a Grant of Probate. In other words, if you promise to indemnify them against a claim from a third party, they will pay you out without you having to obtain a Grant. The limits vary, some will go as high as £15K. Getting a Grant isn't difficult, just process and fees - £90 for the Probate Registry and a personal interview so that the Registrar can be sure that (a) you're a fit and proper person to act and (b) you understand the responsibilities you're taking on. If there's land then you will have to get a Grant, no question.

Once you've got in all the £££ then you have to pay all the debts (like the funeral bill, and overpayment of pension or benefits or underpayment of tax, that sort of thing) and then distribute it in accordance with the will.

Lots of other rules involved. Like, if you're a beneficiary, DO NOT ACT AS A WITNESS because if you do your gift will be automatically void. If in any doubt, get professional help.
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