Collect and reconcile assets, settle debts and tax, use creditor notices, prepare estate accounts and distribute with a reasoned reserve.
This guide is part of ProbateHelp's Probate Process guide cluster. Estimated reading time: 16 min.
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No. Section 44 of the Administration of Estates Act says personal representatives are not bound to distribute before one year from death. It is a protection while proper administration continues, not a mandatory waiting period or a promise that distribution is safe on the first anniversary.
Possibly, if the estate is clearly solvent and a sufficient estate-specific reserve remains for tax, debts, costs, claims and unresolved entitlements. There is no official 10% or 20% safe figure. Record the calculation and obtain advice where liabilities or beneficiaries are uncertain.
After the required notices and claim period, section 27 can protect personal representatives who distribute without notice of an unknown claim. It does not extinguish the claimant's rights against recipients, protect against a known claim or correct a distribution to the wrong beneficiary.
HMRC's informal route is available only if the estate was valued at less than £2.5 million at death, total Income Tax and CGT due is less than £10,000, and no more than £500,000 of assets were sold in any one tax year. If the estate does not meet every condition, it must register for Self Assessment. Once registered, it cannot switch back to informal reporting during the same administration period.
For disposals on or after 30 October 2024, HS282 says personal representatives pay CGT at 24% on taxable gains. A taxable disposal of UK residential property normally also needs a report and payment within 60 days of completion.
A lay executor should not assume they can charge for time. A charging clause, agreement of affected beneficiaries or court authority may be needed. Proper out-of-pocket administration expenses can usually be reimbursed if recorded and supported.