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In the UK:

The caveat stops the probate court from issuing probate, generally speaking the caveat is in place to prevent the estate from being distributed. Of course whilst the caveat is in place the estate could not be collected. However there is much work to be done prior to the submission of the probate application, for example if there was a property the executor would still be responsible for ensuring the property was maintained correctly, insurance would still need to be in place, utilities would need to be contacted. In addition the liquid assets would still not be collated. There is still lots to be done even though the caveat is in place. Of course eventually the executor would reach a point where they could go no further.

However, the filing of a caveat holds the appointment or grant of probate in abeyance until the issue of the caveat is settled. Therefore the executor does not have the legal "power" or authority to act in place of the person who has died until Letters Testamentary have been issued.

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