The Role of An Executor

Given that most deaths are unexpected, it is normal for an executor to be overwhelmed in respect to what to do and where to start, particularly if you have lost a close loved one.

The first role of the executor is to organise the deceased’s funeral.  The deceased may have left some detailed funeral instructions for you in respect to their wishes or perhaps they may even have a prepaid funeral.

To ascertain if the deceased has left any such instructions the executor should look over the deceased’s Will and any personal papers that they have left with their Will

The next step is to advise all relevant parties of the deceased’s death. Again, the deceased may have left a list of people whom they would like to be advised of their passing.

The executor will also need to attend to the cancellation of any services such as cleaning, home help, gardening, newspaper deliveries, telephone, foxtel and other associated services.

Subsequent to this, the executor will need to compile an inventory of all assets and liabilities of the deceased so that a Grant of Probate can be obtained (if the deceased died leaving more than $50,000 of assets in their own name). If the deceased’s died leaving assets of more than $50,000 in their own name then no Grant of Probate is required.

The executor also needs to ensure that all assets of the estate are in a secured place and accounted for. By way of reference, any motor vehicle own by the deceased would need to remain registered, insured and kept in a safe place, and any property would need to remain insured and maintained.

Once the executor has identified the assets and liabilities of the estate the applicable probate documentation would need to be prepared and subsequently executed by the executor and lodged with the Supreme Court. Once a Grant of Probate has been successfully obtained by the Executor, the Executor must administer the assets of the deceased’s estate for a period of at least six months from the date of the Grant of Probate after which time the assets may be distributed to the beneficiaries, subsequent  to the payments of any liabilities, The Executor should seek accounting, financial and legal advice to ensure that all estate requirements are met.

The information contained herein is a condensed narrative of the role of the executor and should be used as a guide only.

Disclaimer: The advice provided in this article is of a general nature only and you should always seek legal advice relevant to your own circumstances.