Kept Assets https://keptassets.com Being Connected Tue, 29 Sep 2026 08:10:05 +0000 en-GB hourly 1 If I don’t want to be an executor what should I do? https://keptassets.com/if-i-dont-want-to-be-an-executor-what-should-i-do/ Tue, 22 Sep 2026 08:13:40 +0000 https://keptassets.com/?p=6873 If I decide being an Executor is not for me?

It is of course possible for you to change your mind about being an Executor. The best time to do this is of course when you are asked to accept the role as the role can then more simply be allocated to another. If the Will is in place, then of course it can be amended to remove you and place another in the role but there is likely to be a cost. If the person has passed and you have not yet started your role as Executor, then you can complete a renunciation form to get yourself removed from the role. Once you have started the role then there is a high expectation placed on you to finish the role unless your health fails you. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> When I distribute the estate is there anything I should look out for? https://keptassets.com/when-i-distribute-the-estate-is-there-anything-i-should-look-out-for/ Mon, 21 Sep 2026 12:50:28 +0000 https://keptassets.com/?p=6868 You should have published a notice of the passing of the deceased in the London Gazette and set a timeframe for potential beneficiaries of the estate to make you aware of their claim on the estate, if this time has lapsed and no claims have been received you can proceed with the distribution of the estate. After taxes and debts, the first thing that is distributed is the specific named gifts. You need to be aware that bankrupt beneficiaries are not entitled to inherit so check as you will be responsible for retrieving any funds they get. You can then distribute the remainder of the estate in accordance with the Will, recording exactly what each person received with your co – executors. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> As an executor does it matter how long it takes to do my job? https://keptassets.com/as-an-executor-does-it-matter-how-long-it-takes-to-do-my-job/ Wed, 16 Sep 2026 12:38:08 +0000 https://keptassets.com/?p=6863 There are no firm timescales on when the funeral should take place but until it is done you will find everything else is much harder to do so normally this is the first significant act you need to do. Inheritance tax on the estate has to be paid within 6 months of the end of the month in which the deceased passed or HMRC will start to apply interest to the debt. Depending on the estate there may also be income tax and capital gains to pay, and these have independent timescales triggered by different events. The properties and assets will need to wait until probate is received, then after that the timeframes are probably linked to the needs of the beneficiaries. To get a more detailed understanding, download our Executor Training course.

If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

]]> As Executor do I need a bank account? https://keptassets.com/as-executor-do-i-need-a-bank-account/ Wed, 09 Sep 2026 11:42:27 +0000 https://keptassets.com/?p=6856 The deceased bank account will be frozen so is no longer an option for paying bills or collecting money so you may need one. The account will be opened in your name, and you will be responsible for all transactions going through the account. The temptation for many is to use their own personal account as it exists and there are no costs in setting it up, however, you are expected to close the estate by producing accounts of all the transactions that have taken place while you have been in charge. If you use your own account, then the work of separating your transactions from the estate transactions can become much more challenging. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> Once I get probate what do I do? https://keptassets.com/once-i-get-probate-what-do-i-do/ Tue, 01 Sep 2026 09:22:27 +0000 https://keptassets.com/?p=6848 The Grant of Probate document allows you to move forward with your role as Executor and start to arrange for the distribution of the estate to the beneficiaries. First thing to pay is any taxes that are due then any debts. It may be that you need to sell assets to get the cash to pay these bills and now you have the Grant of Probate you are able to do this. After that you are able to distribute the remaining funds to the beneficiaries. To get a more detailed understanding, download our Executor Training course.  If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> Do I need to complete many forms to do probate? https://keptassets.com/do-i-complete-many-forms-to-get-probate/ Mon, 24 Aug 2026 13:44:51 +0000 https://keptassets.com/?p=6837 In order to get the Grant of Probate the Executor does need to fill out some forms depending on the size of the estate and it’s complexity. The more complex the estate the more forms, in fact you have a selection of 21 different forms depending on the estate and the assets within the estate. The main one that tends to be filled out on a lot of estates is IHT400 which is 16 pages, but it does often link you to other forms to cover specific things, most of which add another 2-4 pages depending on what the asset is. In general, the questions to be answered are not complex and if you have the information in advance it doesn’t take long to do them. To get a more detailed understanding, download our Executor Training course.

If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

]]> As Executor am I going to do probate? https://keptassets.com/as-executor-am-i-going-to-do-probate/ Wed, 19 Aug 2026 08:04:46 +0000 https://keptassets.com/?p=6832 As Executor why am I going to do Probate?

If you are an Executor then it means that the deceased had a Will, otherwise you would be an administrator and would have volunteered for the role. Executors are expected to complete the probate process for any estate that has an asset value of more than £5,000. There is a common assumption which generally holds true that if a person has gone to the trouble of creating a Will and appointing an Executor then they at least expected that they had some value to pass on making probate likely for most Wills. The reason anyone does probate is because the government wants to know if you owe them any taxes and the probate process is their last chance to get those taxes from your estate before your estate is distributed to new owners who have no liability for the debts. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

]]> Anything that I have to look out for when collecting debts? https://keptassets.com/anything-that-i-have-to-look-out-for-when-collecting-debts/ Wed, 12 Aug 2026 09:35:42 +0000 https://keptassets.com/?p=6816 Death doesn’t make an invoice or a loan void they are transferred into the estate of the deceased and the estate via the Executor is responsible for collecting those debts. It is interesting to hear the reaction of people who owe the estate money as for some reason they often feel they don’t have to pay anymore and that they can just take as long as they like to pay. The terms under which the debt was created still apply and if there is an interest clause for late payment then you would be wise to make the debtors aware of this because the beneficiaries of the estate will be expecting the Executor to apply and collect these. To get a more detailed understanding, download our Executor Training course.

If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> Do all of their debts die with them? https://keptassets.com/do-all-of-their-debts-die-with-them/ Tue, 04 Aug 2026 09:22:45 +0000 https://keptassets.com/?p=6811 This is one of those commonly believed myths that is only partly true.

The part that is true is that the deceased will not be paying the debt. The bit that isn’t true is that the debt does not disappear, it just becomes owned by the deceased estate and the estate via the Executor has to pay the debt on their behalf. Starts with any tax that is due then banks and financial debts and flows from there, so long as there are funds to pay everyone all is good if there aren’t then the debt can become the responsibility of the Executor. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

 

]]> Distributing Inheritance https://keptassets.com/distributing-inheritance/ Wed, 29 Jul 2026 08:00:16 +0000 https://keptassets.com/?p=6796 I guess giving away the stuff people are left in the Will is easy.

In the majority of cases, it is fairly straight forward and obvious who gets what but unfortunately you still have to follow processes to make sure that the right people get the right amount of what they are expecting. In most cases assets such as houses, cars, boats, shares are turned into money before they are distributed.  It is this process that if rushed can sometimes reduce the funds achieved, there is a pre assumption in the market that everyone dealing with probate sales is under pressure to get the cash so buyers bid low hoping the seller will agree to save time. To get a more detailed understanding, download our Executor Training course. If you are an Executor and want to know more follow me for more insights or just get in touch for a one to one.

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