Assuming sufficient assets in the estate is the executor personally responsible for the estates liabilities?
A personal representative can publish a statutory notice to creditors. If he does so when the notice expires he can distribute the estate having regard only to the claims of which he has notice at the time of distribution. Note that "the time of distribution" may be well after the expiry of the notice. Examples will illustrate the principle:
A. The notice expires on 30 May 2015. The estate is distributed on 25 September 2015. No claims are received after 30 May 2015 up to 25 September 2015. A claim is made on 1 October 2015. The PR incurs no liability.
B. The notice expires on 30 May 2015. A claim is notified on 2 June 2015 and there are sufficient funds undistributed to meet the claim. The PR is liable to meet the claim even though the notice has expired.
The notice only protects the PR, not the beneficiaries. A claimant who submits a claim after the notice has expired and after the estate has been distributed can still claim against a beneficiary up to the amount the beneficiary has received but not after any time limit imposed by the Limitation Act 1980 has expired. For the record, the PR's liabilty is not restricted to claims of which he has been given notice following the publishing of the statutory notice, but to all claims which have come to his attention or which he is deemed to have notice by virtue of some registration.