Administration - Role of a PR Flashcards
What is the primary role of a personal representative (PR)?
To collect and get in the deceased’s real and personal estate and administer it according to law
What are the key duties of a PR in administering an estate?
- Collect assets
- Pay debts and estate expenses
- Meet tax liabilities
- Distribute the estate to the correct beneficiaries under the will or intestacy
Who appoints a PR and what is their title?
- If appointed under a will, they are called an executor
- If appointed under the Non-Contentious Probate Rules 1987 (NCPR), they are an administrator
Where does an executor’s authority to act come from?
From the will itself, confirmed by the grant of representation.
Where does an administrator’s authority to act come from?
From the grant of representation issued under the NCPR.
Who holds legal title to the estate assets?
The PRs, by virtue of their appointment. They may also transfer title into their own names before distributing.
Is a grant of representation always needed?
No. Some assets may be administered without it, but most institutions (and the Land Registry) will require it.
Are PRs automatically trustees of the estate?
Not necessarily. However, PRs are trustees:
- When a will expressly appoints them as such
- On intestacy
- For statutory trusts
What is the fiduciary nature of the PR’s role?
PRs must act with due diligence and in good faith, performing their duties with care based on the complexity of the estate.
In what capacities might a solicitor be involved in estate administration?
- Instructed by the PRs to assist with administration
- Appointed as an executor under the will
- Acting in a contentious probate matter
Who is the solicitor’s client when instructed by lay PRs?
The PRs, not the beneficiaries.
How are the solicitor’s fees paid when advising PRs?
Legal fees are an administration expense and are usually paid from the estate.
What duties does a solicitor owe if acting as executor?
A professional PR must act in the best interests of the estate creditors and beneficiaries and may charge for their services.
