Being appointed as an Executor means someone trusted you deeply. It also means stepping into a legal role that carries real responsibility.
Representing clients in Sawbridgeworth and across Hertfordshire and Essex, we regularly meet Executors who say, “I didn’t realise it would be this complicated.” And they are absolutely right, estate administration can quickly become technical, particularly where there are properties, rental portfolios, business interests or inheritance tax to consider.
Many of the Estates we deal with locally involve family homes, investment properties, and long-held assets that have increased significantly in value over time. Even straightforward Estates can become delayed if the process is not handled carefully.
Here are seven of the most common mistakes we see and how they can be avoided:
1. Distributing money too early
This is the most common and potentially the most serious mistake.
Executors are personally liable if they distribute funds before:
- All assets have been identified
- All debts have been settled
- Inheritance Tax has been properly accounted for
- Any potential claims have been considered
Under the Inheritance (Provision for Family and Dependants) Act 1975, certain individuals can bring claims against an Estate. Distributing too quickly can expose an Executor to personal financial risk.
We often see pressure from family members eager to “move things along.” However, careful administration protects everyone involved.
2. Confusion over joint assets
Many people assume everything automatically passes to a spouse. Sometimes it does. Sometimes it doesn’t. Property owned as joint tenants will usually pass by survivorship. Property held as tenants in common does not. Joint bank accounts can also create confusion, particularly where contributions were unequal. In Hertfordshire and Essex, where property values are high and many couples own rental or investment properties, this distinction is especially important.
Understanding what forms part of the Estate and what does not is essential before making any decisions.
3. Forgetting about lifetime gifts
Inheritance Tax is not only calculated on what someone owned when they died. Lifetime gifts made in the seven years before death can affect the Estate’s tax position. Executors must make reasonable enquiries into gifting history before submitting information to HM Revenue & Customs. Failing to do so can cause delays or worse, penalties.
With property values in areas such as Sawbridgeworth, Bishop’s Stortford, Harlow and the surrounding villages often exceeding £500,000 for a family home, inheritance tax exposure is increasingly common.
4. Not securing property properly
Empty properties need attention immediately. Executors should:
- Inform insurers
- Check whether specialist unoccupied insurance is required
- Secure valuables
- Take meter readings
- Maintain the property appropriately
We regularly deal with Estates involving vacant homes across Hertfordshire and Essex, and we have seen avoidable claims arise simply because standard insurance lapsed after 30 days of vacancy.
5. Allowing personal items to be removed too soon
Jewellery, artwork, collections, even furniture these can all have significant value. It is surprisingly common for well-meaning family members to remove items before valuations are carried out. This creates:
- Family disputes
- Valuation complications
- Inheritance Tax reporting issues
Professional valuations should be obtained before distribution, particularly in Estates where overall values may approach or exceed the inheritance tax thresholds.
6. Assuming probate is always required — or never required
Some Estates do not require a Grant of Probate. Others absolutely do. Financial institutions have different thresholds, and property held in a sole name will almost always require a Grant before sale or transfer. Many local Executors come to us unsure whether they need to apply for Probate at all. Taking advice early avoids unnecessary delay and repeated applications.
7. Trying to do everything alone
Executors often feel they should manage the process themselves. Sometimes that works well. However, where there are:
- Multiple properties
- Investment portfolios
- Business interests
- Complex family dynamics
- Inheritance Tax exposure
Professional advice can save considerable time, stress, and personal risk.
Probate support in Sawbridgeworth, Hertfordshire and Essex
Administering an Estate is not simply about collecting funds and distributing them. It is a fiduciary role with legal responsibilities. Being located in Boyletts Law, based in Sawbridgeworth – in between Bishop’s Stortford and Harlow, we support Executors in a way that suits their needs whether that means full estate administration or guiding them through specific stages of the process. Our role is to ensure the Estate is administered correctly, tax is accounted for properly, and families are protected from unnecessary disputes or financial risk.
If you have been appointed as an Executor and would like clarity on your position, we are always happy to have an initial discussion. Getting it right matters. Please call us on 01279 295047 or complete our contact form and we will be in touch.