Executor or Guardian – Next Steps | Xwills

Executor or Guardian: what happens next?

You have been chosen as a trusted person in someone’s Will. This page explains your duties and how Xwills can support you.

Executor duties — step by step

  • 1. Secure the Will: Locate the original document and ensure assets (jewelry, vehicles, property) are safe.
  • 2. Register the death: Obtain the death certificate and coordinate with the funeral director.
  • 3. Value the estate: Calculate all assets and outstanding debts to find the "Net Value."
  • 4. Tax & Paperwork: File HMRC forms to assess Inheritance Tax (IHT) and pay any due amounts.
  • 5. Apply for Probate: Obtain the legal Grant of Probate to manage the deceased’s bank accounts and property.
  • 6. Distribute assets: Settle all debts and pass on gifts to beneficiaries exactly as stated.

Guardian duties — step by step

  • 1. Immediate Care: Step in to provide a safe home if both parents have passed away.
  • 2. Legal Responsibility: You take on "Parental Responsibility" for major life decisions.
  • 3. Education & Healthcare: Choosing schools, approving medical treatments, and welfare.
  • 4. Financial Coordination: Liaising with Trustees to release funds for the child's maintenance.
  • 5. Emotional Support: Guiding the child through grief and their long-term upbringing.
  • 6. Long-term Commitment: Acting in this role until the child reaches the age of 18.

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Detailed Frequently Asked Questions

For Executors

1. Can I be sued by a beneficiary? Yes, if you fail to follow the Will or cause the estate financial loss through negligence. Following professional advice from Xwills helps protect you from personal liability.
2. What if there are more debts than assets? This is an "Insolvent Estate." You must pay debts in a specific legal order. If you pay the wrong person first, you could be held personally liable.
3. How long do I have to keep records? You should keep all accounts, receipts, and tax records for at least 12 years after the estate is closed, in case of future HMRC queries or legal claims.
4. Can I buy assets from the estate? This is a conflict of interest. While possible, it must be done at full market value and usually requires the written consent of all beneficiaries to avoid "self-dealing" claims.
5. What if the beneficiaries are fighting? You must remain neutral. If family disputes prevent you from acting, you may need to apply to the court for directions or appoint a professional mediator.
6. Is a "Grant of Probate" always needed? Not always for very small estates (usually under £5k-£15k) or assets held in joint names. However, most banks and the Land Registry will require it for property or significant funds.

For Guardians

1. Can I change the child's surname? No. You cannot change a child's surname or take them out of the UK for more than 28 days without the written consent of everyone else with Parental Responsibility or a court order.
2. What if the other parent is still alive? Usually, your role only activates if both parents have died. If one parent is alive, they retain custody unless a specific court order states otherwise.
3. Am I responsible for their future inheritance? No. That is the role of the "Trustee" (often the same person as the Executor). Your job is the child's physical care; the Trustee's job is to protect their money.
4. Can I be replaced if my circumstances change? Yes. If you become ill or can no longer cope, you can apply to the court to have a new guardian appointed. It is always wise to have a "Substitute Guardian" named in the Will.
5. Do I get a "salary" from the estate? No, but the Will usually allows you to use the children’s inheritance for their "maintenance, education, and benefit," which covers housing, food, and clothes.
6. What happens when they turn 18? The legal Guardianship ends. The child becomes a legal adult and, depending on the Will, may receive their full inheritance or continue to receive it in stages.