Dealing with the loss of a loved one is never easy. As an executor, being tasked with dealing with the administration of winding up an estate can add confusion at such a difficult time and can feel like an overwhelming administrative burden.
This is where our team at Dallas McMillan come in. We are experts in Private Client law, familiar with dealing with the day to day administration of an executry. We can take responsibility for managing the process, keeping you informed every step of the way.
Below is a guide to the executry process in Scotland. However, if you have any questions, please do not hesitate to ask. Our team are on hand to guide you through this challenging time. Contact us on 0141 465 5410 or complete our online contact form and we will be in touch.
Experienced Executry Lawyers in Glasgow
The executry process in Scotland varies depending on whether the deceased left a Will.
If there is a Will, the estate is known as a “testate estate.” In a testate estate, an executor will be appointed within the Will.
If there is no Will, the estate is known as an “intestate estate.” The Court will appoint the executor by following a set procedure.
Responsibilities of The Executors
Regardless of whether the executor is appointed in the Will or is appointed by the court, they have certain responsibilities.
Obtain Confirmation
The first responsibility of the executor is to obtain ‘Confirmation.’
In simple terms, Confirmation is the authority to administer the estate of the deceased. Once granted, the executor must distribute the estate in accordance with the Will.
Obtaining Confirmation can seem like a complicated process. However, our solicitors are highly experienced in this area of law.
Create an Inventory
Obtaining Confirmation requires the executor, or their representative, to obtain valuations of the deceased's property. This can be simple for bank accounts and shareholdings, but can be more complicated where houses and high-value personal possessions are involved. An inventory must then be prepared, outlining the values of these items for the court. This process will also help you understand whether tax will be due and how much tax should be paid.
“Ingather” the Estate
Once Confirmation is obtained from the court, the executors can ingather the Estate. This involves writing to banks and building societies, insurers and other interested parties to take control of the deceased's assets. These third parties will need to see proof that the executor can act – and the Certificate of Confirmation can be produced to assist in this process.
Distribute the Estate
Once the Estate has been fully gathered in and debts and taxes have been dealt with, the executor can distribute the Estate. If there is a Will, distribution will be in accordance with the Will. If there is no Will, then the law of intestate succession will apply. This involves applying a series of rules on how the estate should be distributed.
In an intestate estate, if there is a surviving spouse, then they are the first people entitled to a share in the estate through a system known as prior rights. Prior rights entitle the surviving spouse, in most cases, to the house they shared with their partner, along with the furniture in the house (up to a certain value). The surviving spouse is also entitled to the first payments out of the estate set at a particular value – the amount of which depends on whether the deceased had children.
The next stage in sharing out an intestate estate involves the application of legal rights, which are rights that apply to moveable assets of the deceased (like money). The surviving spouse is entitled to one-third of the moveable estate if there are children, and one half if there are not. If there are children, and there is a living spouse, they are entitled to a third of the estate and one half if there is no surviving spouse.
The rest of the estate in an intestate estate is shared according to the law set out in the Succession (Scotland) Act 1964.
Contact Our Executry Solicitors Glasgow
At Dallas McMillan, we have an extensive understanding of the executry process. We have experience in dealing with testate and intestate estates; simple estates; high net worth individuals; and everything in between. We can guide executors through these processes from start to finish. Our private client team can ensure that the executry process is as straightforward as possible by providing clear and accessible advice.
We put our clients at the centre of our work and will keep you informed every step of the way. If you have recently lost someone and are unsure of the next steps, contact Joyce Marshall or Rosslyn Milligan on 0141 465 5410 or complete our online contact form.
