Duties of PRs

Question 1

Preservation and Realisation of Estate

Answer 1

PRs must take reasonable steps to preserve the deceased’s estate and realize any investments that are not appropriate to retain.

Question 2

Preservation and Realisation of Estate

Answer 2

They must pay off the estate’s debts from estate funds and distribute assets as per the will or intestacy rules.

Question 3

Acting in the Best Interests of Beneficiaries

Answer 3

PRs must act in the best interests of the beneficiaries.

Question 4

Acting in the Best Interests of Beneficiaries

Answer 4

They must exercise reasonable care and skill, considering any specialist knowledge they possess.

Question 5

Acting in the Best Interests of Beneficiaries

Answer 5

PRs may be liable for losses resulting from a breach of duty.

Question 6

Liability for Breach of Duty

Answer 6

PRs are not liable for breaches of duty by other PRs unless they were negligent in preventing such breaches.