basic questions on being an executor

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8till8

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Can someone help me with some basic questions;

  • How does an executor trace all of a deceased persons assets? So after a search through the deceased persons paperwork, how do you ensure that you've found everything? Is there a standard form sent to all banks along the lines of 'do you have any accounts in this persons name?'
  • What happens if assets are discovered after probate?
  • What does a grant of probate look like?
 
8till8 said:
Can someone help me with some basic questions;

  • How does an executor trace all of a deceased persons assets? So after a search through the deceased persons paperwork, how do you ensure that you've found everything? Is there a standard form sent to all banks along the lines of 'do you have any accounts in this persons name?'
  • What happens if assets are discovered after probate?
  • What does a grant of probate look like?
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Solicitor will normally do most of the heavy lifting in terms of tracing assets. A lot will be known but they can contact the banks if needed as well.

In terms of assets found after probate, it can get messy from a tax perspective, but in essence they are gathered in and redistributed from there. I'm aware of one case in my own family where 20k was found in a dormant account 6 months after probate was done and it took a while for the solicitor to resolve.
 
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