Are Executors of Wills responsible for the debts of the person who died?

Question

tax debts

Answer 1

No

Answer 2

Yes, executors in the UK are liable for all the debts of the deceased, including tax, but only up to the extent of the assets of the estate. .They don't have to make up any shortfall out of their own money, or anything like that.

The debts must be paid before any legacies etc are distributed to the beneficiaries. If it looks as though the estate might be insolvent, advice from an insolvency practitioner should be sought, because there are rules about which creditors take precedence, and breaking the rules might leave the executors personally liable.

Answer 3

I recently lost my husband and when we did a joint will we appointed our local bank to be executors of the will. My husband's estate was under £5000 so it did not need to go to probate so the bank renounced the estate over to myself. Now if the decease's estate has gone to probate and there is more than £5000, then whoever has been appointed as executor will be responsible for paying any remaining debts the deceased had.
Once the debts have been paid off to the creditors then the remaining monies within the estate will be handed down to the beneficiary i.e spouse. Good luck

Answer 4

Not personally but as someone else said, they are responsible for ensuring all outstanding debts are paid from the estate of the deceased. The only time an executor is personally liable is if they are found to be in breach of trust/duty as an executor, ie, if you were mishandling funds or didn't follow the wishes of the deceased as outlined in their Will.
That's how I was taught about 15 yrs ago BUT things have changed so may be worth seeking legal advice on this.
I'm chief executor on my mother's Will....she's still alive thankfully BUT it's never a position you should accept unless you fully understand what you're getting yourself in to!

Good luck!

Answer 5

2. Executors

A person or persons will need to be responsible for administering your estate upon your death. If you appoint someone to do this in your Will they are called "executors". Their main functions will be:

-To ascertain the value of your estate and prepare a schedule of the assets;
-Unless the estate is very small, to obtain authority from the Probate Registry to administer the estate; (a similar process in Scotland requires the executor to obtain "confirmation")
-To pay any debts due, including inheritance tax;
-To distribute the residue of the estate to those persons entitled, either in terms of a Will or by legal entitlement.

You should appoint those persons whom you feel will be able to cope with the difficult (and sometimes distressing) task of administering your estate and it is important that you check that they are willing to do so. People often appoint close family members or professional advisors such as an accountant or solicitor.


You are responsible for paying the deceased debts out of the deceased's assets NOT out of your own pocket

Answer 6

The executor is not personally responsible to pay from out of pocket the debts. The executor is responsible for paying the debts from the proceeds of the sale of the estate after the estate has come out of probate.

Answer 7

Yes. The executor needs to draw up an account and pay all the debts before the estate can be distributed. However, the executor is not personally liable if the estate isn't enough to meet all of the debts.

Answer 8

If there's enough money in the estate to pay them, the executor is supposed to do that before any distributions are made to heirs.

The executor is not personally responsible, from his/her personal funds, for debts of the deceased.

Answer 9

An executor is not responsible for these debts. Jim

Answer 10

No, but they are responsible for ensuring that any debts are payed from the estate of the deceased.

Answer 11

No, their only responsibility is to ensure that the conditions of the will are met.