Article of Interest on Wills & Estates

WHAT DO EXECUTORS DO?

If you attend a Solicitor to make a Will, one of the first questions you will be asked is “Who will you appoint as your Executor or Executors? ” So- what do they do? An executor is the person appointed by a Will to administer your estate. More than one executor can be appointed by a Will.

They should be adults, who don’t have any impairment which would prevent them from administering the estate. You can appoint who you wish to be your executor. It places serious obligations upon that executor to comply with the requirements of the law in the administration of your estate. The executor actually stands in your place and disposes of property as directed by you.

If more than one executor is to be appointed, then it is essential that those executors are not likely to be hostile to one another. This can result in difficulties in the administration of the estate. Adult children who don’t speak to one another are not good choices. More complex estates may require professional expertise in the role of executor. In this situation there can be both the family/friend person and the professional so that the executors have a mix of the personal and the professional combined in the management of the estate.

An inexperienced Lawyer will simply accept who you say is to be your executor without asking any questions about their capacity or expertise. The experienced Estate Lawyer will assist you to appoint the appropriate executor for you and your estate.

More Articles of Interest on Wills and Estates.

Binding Death Benefit Nominations
Giving it away before you die
Is probate necessary?
Planning for death
Specific Gifts (Be Careful)
What is Probate?
Choosing the right executor
Can't agree on the price
Remember The Taxman
"What If" - The process of Will making
Worried about your will?
Beware The Superannuation Fund
Will or No Will?
Wills and Testamentary Trusts
Administration of the estate
Failure to plan
Helping out the kids
I just need a simple will
Life Interests
Providing for the severely disabled
What do executors do?
Manage the fund
Wills, Planning and Security
The Simple Request
Your will and the disabled child
Left out of a Will
Helping The Children
The Black Hole
Enduring Power of Attorney
The De Facto Spouse
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