Executor responsibilites

Hughes7996

With the sale of my late mothers house, my role of executor of her will is coming to an end. All funeral expenses have been paid, all legal bills have been settled, etc.

I know I have the last duty of dispersing monies in the estate to the beneficiaries, but is there anything to do after this? The estate does not qualify for inheritance tax as it is under £200,000, but do I still need to send any kind of account to the tax office to prove this?

Also would I be within my rights to ask for some recompense for out of pocket expenses I.e. postage, phone calls, time out for visits to bank, building societies, solicitors, etc from the other beneficiaries of the will - to be taken from the estate prior to the dispersion of funds!

Any advice gratefully received.

Abbafan1972

OP, sorry I can't offer you any advice, but just want to offer my condolences on the loss of your mother. x

Hope you get everything to a satisfactory conclusion.

Mojisola

As I understand it, a non-professional executor can be recompensed for expenses but can't charge for their time.

SmlSave

Have you sent a r27 to the tax office? The estate might owe or be owed tax and this is the form to check. We always send a r27 before finalising an estate. (im a legal sec)

Tiddlywinks

Notice posted in daily newspaper asking for creditors to make themselves known so that all liabilitities can be accounted for.

getmore4less

The initial probate application included the IHT205/IHT400 that covers the capital side of things.

Income you need to do the r27 and a return for period of administation, this can be a letter with the details of the income and tax paid if any.

You can ask HMRC if they are happy

detail your expences and check the benifitiaries are happy, you can add a mileage claim for car use.