Beware: executors are liable for inheritance tax

Make sure you’re up to date on the responsibilities that come with being an executor before you agree to take on the role.

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At some point in our lives many of us will be asked to be an executor for a friend or relative's estate. This can seem like an honour, but before you say yes, make sure you understand exactly what you are agreeing to.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.