What is Executry in Scotland?
Executry is the legal term used to describe a deceased’s Estate once it has passed to the executor for distribution. In Scotland, an executor must be appointed before they can take over and administer the deceased’s estate.
Appointing an Executor in Scotland
This appointment can be made in the deceased’s will or by the court. The executor can be a family member, or an executry solicitor. If the executor is not a solicitor, they normally instruct a solicitor to assist with collecting together the deceased’s estates.
This is known as ‘ingathering’. Before doing this, ‘confirmation’ must be acquired. Confirmation takes the form of a court document which confirms that the executor has legal authority to ingather the deceased’s estate. There are a number of things to take into account when winding up an estate: Inheritance tax (IHT), acquiring confirmation, sorting unpaid bills (including expenses), paying legacies such as gifts, or cash sums left to individuals and making the necessary arrangements for cashing in investments and assets.