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What is an executor?

Family playing in park

When you make your Will, you need to appoint a person or organisation to administer your estate.

This person is known as the executor and their role is to carry out the instructions in your Will.

The executor role becomes effective when you pass away. 

Who should I choose to be my executor? 

Many people see it as a compliment to appoint a relative or close friend as their executor, but finalising your affairs while they’re grieving can be overwhelming and challenging.

In addition, sorting out your affairs can be a very lengthy process if your estate: 

  • is complex  

  • is contested 

  • contains on-going trusts (that need to be maintained over time).

It is important to choose an executor who understands the legal, financial and taxation implications and can maintain independence if there are disputes. 

Responsibilities of an executor

Administration

  • locating the Will

  • making funeral arrangements (depending on family situation)

  • keeping beneficiaries up to date

  • notifying government agencies, utilities, financial institutions etc. 
Probate and distribution

  • preparing all necessary documents required to apply to the Supreme Court for a grant of probate

  • distributing the estate assets and funds (this includes first ensuring all liabilities and expenses have been accounted for, paying legacies, transferring specific gifts, establishing any ongoing trusts and transferring or paying any remaining assets to the residuary beneficiaries).
Financial

  • finding out about assets and debts by contacting financial institutions, service providers and government agencies

  • making an inventory of personal and household effects, cash, business interests, real estate and securities (including property outside of NSW)

  • after probate, preparing account and tax information for beneficiaries and paying liabilities (including income tax that relates to periods both before and after the death)

  • providing an accounting report of all administration activities to the beneficiaries. 

How to appoint us as your executor

Request an appointment to make or update your Will to appoint us as your executor