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Executors appointed by the deceasedís Will are personally responsible for the proper administration of the estate: liabilities must be paid, assets gathered in and beneficiariesí legacies satisfied. Efficiency and planning can help to avoid difficulties which may otherwise plague the estate.
Executors may disagree with one another or find themselves facing claims from disappointed beneficiaries alleging the will does not leave them enough money or is being misinterpreted or is simply not valid. Effective advice at an early stage can prevent the administration being delayed and minimise the ill feeling which may otherwise arise.
Beneficiaries who find themselves inheriting significant assets may benefit from family tax planning to protect those assets from spendthrift relatives and to minimise any tax liabilities.