Property and Probate

When someone dies there are many things to consider, especially if you are named as executor in their will. 

As an executor, during the period of administration, you are legally responsible for the deceased’s assets and therefore it is your responsibility to ensure they are protected, adequately insured and taken care of before they are sold or distributed to the beneficiaries. 

This can be particularly important where the deceased owned a property in their sole name, which following their death, is left empty. It will be the job of the executors to look after the property. 

In the first instance, you should consider whether the property is secure. For example:

• Who has the keys and do the locks need to be changed? 
• Have you advised the insurance company of the death and is there adequate insurance in place now the property is empty? 
• Has the water been turned off?
• Does anyone know the alarm code?

Utility bills will still need to be paid, and the providers updated.  Whilst these are expenses of the estate and must be paid by the executors, it is often the case that providers will be prepared to wait until probate is granted before demanding payment. 

Someone’s house will likely be the place that they keep their possessions and paperwork and can thus be a useful place to start when identifying assets owned by the deceased for the purposes of valuing the estate. 

There can be other consideration too, for example:

• Did the deceased own any pets / livestock?
• Have all the perishable items been removed and the fridge / freezer emptied and defrosted?
• Has the post been redirected?
• Is someone able to check on the property weekly to comply with the insurance?

If there is a mortgage on the property, the lender must be notified as quickly as possible. Each lender will have their own policies and procedures in place and will help to guide you through the next steps. They will usually want to see a copy of the death certificate.  

The mortgage must still be paid, and lenders can demand that any outstanding debt is repaid in full. If repayment is not possible from estate funds, the lender can demand that the property is sold to pay off the outstanding debt. Unfortunately, debts do not disappear when you die. 

Location is therefore an important consideration when choosing your Executors.  

Further information

Bishop Fleming’s Estate and Probate team are well equipped to review your personal circumstances, provide you with an estimate of your exposure to inheritance tax and provide advice on mitigating that exposure.

You can find more information on our Estate Planning and Probate Services page.

If you would like to discuss how taxation of the family can impact your decisions, please contact a member of our Estate Planning & Probate team who will be pleased to talk to you.