The following Wills & Probate Q&A provides comprehensive and up to date legal information covering:
Section 25 of the Administration of Estates Act 1925 (AEA 1925) imposes a duty on the personal representative (PR) to collect and get in the real and personal estate of the deceased and administer it according to law. Section 32 of the Act provides that the deceased’s debts are recoverable from any personal or real estate left behind. As set out in our Practice Note: Registering the grant and collecting in the principal estate assets, the PR may have to realise assets as soon as possible on receipt of the grant in order to repay any inheritance tax loan and the funeral expenses and debts. Other sales may be necessary in the course of the administration to meet other liabilities.
Subject to the terms of the Will, the PR can raise funds by borrowing and securing against the deceased’s personal and r
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