Hi, some help please with being an executor

[Cross999]

I have been asked to be an executor, but am concerned about my responsibilities and liabilities. I suspect the friend in question who, some years ago, inherited shares from the USA has never paid income tax on the dividends or capital gains if any were sold. When I have to list/declare all the assets, will HMRC in seeing this person has only ever paid tax through PAYE become suspicious and investigate? I would have no means of ascertaining (this person is not the type to keep financial records) when shares/dividends were received, costs, values etc. to be able to determine past income or capital gains tax liability. If the shares were inherited, would that person receive the shares free of culpability/past indiscretions, or would I still have to sort out the past liability to HMRC and would the "debt" come from the general estate or would shares have to be sold (bringing further capital gains headaches for me)?

I would hate to disappoint this friend, but really don't want to be put in such a difficult and probably protracted position with HMRC et al and would have to decline. Your thoughts appreciated.

[des8]

Re: Hi, some help please with being an executor

If you are uncertain,now is the time to decline the "offer".
If HMRC start to investigate it is the executor(s) who have to find the paperwork.
HMRC take their time, and then you may find yourself being hassled by expectant beneficiaries who were counting on uncle's money and don't understand why they should be
kept waiting!