Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
When someone dies their executors must ascertain the value of the estate before an application for Confirmation (the Scottish equivalent of Probate) can be made. Confirmation is the document granted by the court which gives the executors the legal authority to ingather and distribute the deceased’s estate. Valuing an estate may appear to be straightforward but there are some important factors to consider.
Many of you will have watched a TV show or film where the family or friends of a deceased meet in the lawyer’s office for “the reading of the Will”, often with dramatic revelations and surprises about the nature of the estate and who inherits it. In Scotland it is usually the executors named in the Will who have the initial meeting with the lawyers. Often, but not always, they are also beneficiaries of the estate. The meeting is usually much less dramatic as, in the majority of cases, the deceased is likely to have discussed the Will with his or her family during their lifetime.
It is a privilege to be appointed executor of a loved one’s Will. It is an indication of the trust they have in you to deal with their affairs following their death. However, being an executor can be challenging. Sometimes, an executor may not even know they have been appointed and only find out when the deceased’s Will is found. Where there is no Will, a family member is normally appointed by the court to deal with the estate. However, for most people appointed as an executor in a Will, their awareness of the appointment comes many years before their loved one dies.
Dealing with the estate of a loved one can be a very challenging time. Emotions are running high and this can make it easy for tensions to arise. The executors may disagree about how the estate should be managed or distributed and it can seem impossible for the conflict to be resolved. Failure to agree can lead to delays in the administration and distribution of the estate. The law provides several ways to deal with disagreements between executors. If you are finding it challenging to come to a decision as a group of executors this article may help.
We understand that dealing with the executry process following the death of a relative or friend can seem confusing and overwhelming. In this article, we look at the stages of the executry process and how long you can expect each to take.
