Distributing an Estate
Obtaining the Grant of Probate is not the end of the process. Once the grant has been issued, the estate still needs to be administered and this phase carries its own legal responsibilities.
Administration involves collecting all assets belonging to the estate, settling outstanding debts and tax liabilities, and then distributing what remains to the beneficiaries. The order matters. Executors must not distribute the estate until all known liabilities have been resolved.
In practice, distributing an estate too early can expose executors to personal liability, particularly if unknown creditors come forward after distributions have been made. Publishing a notice in The London Gazette, and where appropriate in a local newspaper, is a recognised step that can provide executors with some protection against this risk, provided they then wait the required period before distributing.
Each stage of the administration must be handled carefully, and accurate records should be maintained throughout.
At MJV Solicitors, we guide executors through the final stages of the administration to ensure the estate is distributed properly and executors are appropriately protected.