Executor - expenses
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baby_boomer
Posts: 3,883 Forumite
As executor, what expenses am I able to claim from the estate and what evidence do I need to establish a claim?
Travel to the property is 250 miles by car so that's one aspect that concerns me. Is this allowable? Should I record mileage and / or keep petrol receipts?
Stamps? (A list of correspondance or a receipt for stamps?)
Phone calls?
Death notice in the Times?
Flat management charge (it's a leasehold property).
Utility bills for the property.
Insurance for property contents.
Funeral.
Anything else I've missed?
I know I need to open an "Estate account". Is it OK to put a sum of my money into this from my own finances, to be paid back when I distribute the estate? Should I bother charging interest on such a loan?
This is my first time. Do let me know if I ought to be in another forum.
Thanks in advance.
Travel to the property is 250 miles by car so that's one aspect that concerns me. Is this allowable? Should I record mileage and / or keep petrol receipts?
Stamps? (A list of correspondance or a receipt for stamps?)
Phone calls?
Death notice in the Times?
Flat management charge (it's a leasehold property).
Utility bills for the property.
Insurance for property contents.
Funeral.
Anything else I've missed?
I know I need to open an "Estate account". Is it OK to put a sum of my money into this from my own finances, to be paid back when I distribute the estate? Should I bother charging interest on such a loan?
This is my first time. Do let me know if I ought to be in another forum.
Thanks in advance.
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Comments
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baby_boomer wrote: »As executor, what expenses am I able to claim from the estate and what evidence do I need to establish a claim?
Travel to the property is 250 miles by car so that's one aspect that concerns me. Is this allowable? Should I record mileage and / or keep petrol receipts?
Stamps? (A list of correspondance or a receipt for stamps?)
Phone calls?Death notice in the Times?
Flat management charge (it's a leasehold property).
Utility bills for the property.
Insurance for property contents.
FuneralI know I need to open an "Estate account". Is it OK to put a sum of my money into this from my own finances, to be paid back when I distribute the estate? Should I bother charging interest on such a loan?0 -
I know I need to open an "Estate account". Is it OK to put a sum of my money into this from my own finances, to be paid back when I distribute the estate? Should I bother charging interest on such a loan?
You can open an executors account with £1. Using this account for your own money will cause problems.0 -
If you are concerned about liquid funds to pay funeral expenses etc. the bank should release these funds from the bank accounts on production of an invoice.0
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Would the HMRC official mileage rate be an acceptable allowance for travel?0
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My solicitor told me to charge 30p a mile for travel back and fore to South Wales when looking after my father's house prior to sale.
Truly, what I really wanted to claim for was my time in writing letters. I was so busy, teaching mostly exam classes, and found that I had to continually write to the council and other places.
In the end I decided the mileage allowance was a trade off.Member #14 of SKI-ers club
Words, words, they're all we have to go by!.
(Pity they are mangled by this autocorrect!)0 -
If you are concerned about liquid funds to pay funeral expenses etc. the bank should release these funds from the bank accounts on production of an invoice.
Once probate has been granted you will have access to any avaliable funds.0 -
No, but 40p a mile for a long journey I just felt was a bit exhorbitant.
I don't. I'm an executor of an estate and as you don't get anything for your time it seems entirely reasonable.
I'm lucky in that my relative had put some cash under the matress to pay for expenses etc.
I'm not keeping a list of where I've used the stamps I bought but I am keeping copies of all letters sent and received in a couple of ring binders.0
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