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.
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, the onus of administering their estate does not simply fall on their family. An Executor, or Executors, are normally appointed under a Will, and they are responsible for the distribution of the estate of the deceased. Whilst it is common for family members to be appointed as Executors, it is not always the norm.
An Executor can be appointed as Executor-nominate or Executor-dative. An Executor-nominate is appointed by the deceased under their Will to make good on the terms of the Will. An Executor-dative is appointed by a Sheriff if the deceased did not leave a Will.
In Scotland, an Executor is ‘eadem persona cum defuncto’, which translates to ‘the same person as the deceased’.
An Executor is responsible for administering the deceased’s estate and is required to work out the extent and nature of it. This involves investigating what assets were held at the date of death. The individual value of the assets, e.g. cash, property, land holdings and investments at the date of death must be obtained and it is paramount that the Executor also considers any debts owed to or by the deceased.
By fully reviewing the deceased’s assets, the Executor can calculate the net value of the estate. By calculating the net value, the Executor will be able to determine whether there is an Inheritance Tax liability. Once any Inheritance Tax due has been paid, or if there is none due, then the Executor must apply for Confirmation before the estate can be distributed.
Confirmation is a Court order, which provides the Executor with the legal authority to begin distribution of the deceased’s estate. Once Confirmation has been granted, the Executor gains the authority to handle and administer the assets forming part of the estate.
You can theoretically appoint anyone as your Executor, provided they have legal capacity, but ultimately it should be someone whom you believe will be able to deal with winding up your estate efficiently. Depending on the nature of your estate, this may be simple or could be more complex, so choosing the right Executor for your own personal circumstances is important.
It is always recommended that you appoint more than one Executor. This could simply just be a backup in case anything should happen to your principal Executor, or a more personalised structure to suit your needs. Whilst you may believe your family members would be the right choice to deal with your estate, it may be that a professional Executor, such as a Solicitor, or their firm’s trustee company, may be more appropriate.
However, it should be noted that Executors do not have to tackle this work alone and can appoint an agent, such as a law firm, to assist them with the administration. Murray Beith Murray have a wealth of experience in dealing with Wills and Estates and can help guide you through the administration process.
Michael Carlin is a solicitor within our Asset Protection Group. He specialises in Estate Planning and Wills. If this article has raised any questions or you would like to discuss any issues covered here, then please complete our contact form, or call us on 0131 225 1200 to speak to one of our specialist estate planning lawyers.
Murray Beith Murray was established in 1849 as advisors for generations of clients, committed to our values of integrity, expertise and trust. This aim and these values continue to this day, as does our commitment to be
