An Executry is the process of dealing with someone’s assets and liabilities when they die. In England they call this process Probate. Someone has to take responsibility to find out the extent of the deceased’s estate when they have passed away. That person is called the Executor. There has to be an executor in every Executry. The Executor will deal with the administration of the assets and liabilities (we call this the Estate).
When there’s a Will, it will set out who should receive what. The law sets out the distribution of the estate when there’s no Will. That’s why it’s important to make a Will. You can read our Wills page to find out more – just click here. The Executor needs to know about Prior Rights and Legal Rights. Prior Rights in an estate apply when there’s no Will and Legal Rights to an estate apply whether there’s a Will or not.
Appointing an Executor
If there’s a Will, it will contain the details of who should be the Executor. Otherwise, you need to make an application to the court to appoint an Executor if there’s no Will. The Executor is usually a family member when there’s no Will.
You might need a Bond of Caution. This is a type of insurance policy to protect the beneficiaries’ interests in the estate.
You can’t proceed to the next stage in the process if there isn’t a Will. You need to have an executor named in the Will or appointed before you can apply for Confirmation.
Obtaining Confirmation (Probate)
When the extent of the estate is known, an application is made for Confirmation (for Probate in England) . The Confirmation contains details of the deceased’s estate. It also lists any debts to be paid. The Court checks the application and grants a Certificate of Confirmation.
Ingathering and Distributing the Estate
The Confirmation is used to then uplift all of the estate. When funds arrive, the debts are paid. The final stage is to arrange the distribution. A set of accounts known as an Account of Charge and Discharge are prepared. These list all of the estate in the application for Confirmation. They also list what has been recovered, the debts and expenses paid and to whom the estate will be distributed.
Executry Solicitors in North East Scotland
The Executry process can be complicated – particularly if there’s no Will. Our Executry solicitors regularly guide Executors through the entire process.