What is the first expense that should be paid from an estate's assets?

The first expense that should typically be paid from an estate's assets is funeral expenses. This priority is recognized in many jurisdictions because funeral costs are often seen as necessary for honoring the deceased and can be essential for settling the estate. Funeral expenses are generally paid promptly after death, as they are immediate obligations that need to be addressed to ensure the respectful handling of the deceased’s remains and to provide closure for family and friends.

In many financial frameworks surrounding estate administration, funeral expenses are treated as a high priority to allow for timely arrangements. This can also help in alleviating the emotional burden on the family, which is often significant at the time of loss.

Succeeding expenses, like solicitor's costs, administrator compensation, and tax fees, typically follow in ranking after funeral expenses. While these costs are also important and may be associated with administering the estate, they are not seen as urgent as the need to manage final arrangements for the deceased. Thus, funeral expenses take precedence and are often the first bills settled from the estate's assets.