The person appointed to administer the estate when someone dies is either determined by their Will (in which Executors are appointed) or by next of kin.  There may be one or more persons involved in this process and they are known as the Personal Representatives (PRs) of the Estate.

Part of their role is to account for the entirety of the estate: to value assets, pay off liabilities, and distribute the remainder in accordance with the Will or, where there is no Will, the Rules of Intestacy.

• Identifying, listing, obtaining valuations for the assets of the estate;
• Completing and submitting the Probate and Inheritance Tax paperwork;
• Maintaining a capital account to record details of changes to the initial valuations (eg. property may sell for more than the valuation);
• Maintaining an income account to record details of income generated/received by the estate post death (eg. on shares);
• Maintaining an administration account listing any expenses incurred in the administration of the estate (eg. Probate fees, professional fees);
• Gathering in the assets and providing receipts;
• Identifying, listing and discharging the debts owed by the estate;
• Calculating and accounting for any Capital Gains Tax;
• Calculating and accounting for any Income Tax;
• Calculating and accounting for any Inheritance Tax;
• Maintaining a beneficiary account and obtaining receipts for all gifts paid out under the terms of the Will or the Rules of Intestacy.