Useful Information

Executors

A person or persons will need to be responsible for administering your estate upon your death. If you appoint someone to do this in your Will they are called "executors".

Their main functions will be:

-To ascertain the value of your estate and prepare a schedule of the assets;
-Unless the estate is very small, the executor to obtain "confirmation"; (a similar process in England requires the executor to obtain authority from the Probate Registry to administer the estate)
-To pay any debts due, including inheritance tax;
-To distribute the residue of the estate to those persons entitled, either in terms of a Will or by legal entitlement.

You should appoint those persons whom you feel will be able to cope with the difficult (and sometimes distressing) task of administering your estate and it is important that you check that they are willing to do so. People often appoint close family members or professional advisors such as an accountant or solicitor.